- Cultural industries– Types of media in which a cultural/creative company produces, distributes and exhibits a product
- Production– Making or producing a product
- Distribution– Advertising or marketing the product
- Exhibition / Consumption– Showing the product/releasing it
- Media concentration– Organisations control increasing shares of the mass media
- Conglomerates– When a business owns a massive group of companies
- Globalisation (in terms of media ownership)- Worldwide integration of media/cultural companies
- Cultural imperialism– Western nations dominate the media around the world which has a powerful impact
- Vertical Integration– When a company does all 3 production, distribution and consumption
- Horizontal Integration– When a company only produces
- Mergers– Combining two or more things into one
- Monopolies– When a company owns all the three
- Gatekeepers– When you can only choose through what the company has chosen for you-
- Regulation– A rule/restriction made by government/authority
- Deregulation– When the government restrictions are loosened
- Free market– A system where prices are determined on
- Commodification– turning something into an item that can be bought and sold
- Convergence– Merging platforms through networking
- Diversity– Diversity of options
- Innovation- Inventing new values in the market
Question 05:
- Vertical Integration- A company owns different businesses in the same chain of production and distribution
- Media Conglomerate- A company owns numerous companies in mass media enterprises
- Diversification- A corporate strategy to enter into a new market in which the business doesn’t currently operate