1. Cultural industries – A cultural industry is an economic field concerned with producing, reproducing, storing, and distributing cultural goods and services on industrial and commercial terms.
2. Production – Production is the process of combining various material inputs and immaterial inputs  in order to make something for consumption. It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.
3. Distribution-Content Distribution is the act of promoting content to online audiences in multiple media formats through various channels.
4. Exhibition / Consumption-  consumption is defined as how your content audience reads, views and/or listens to information.
5. Media concentration-  a process whereby progressively fewer individuals or organizations control increasing shares of the mass media.
6. Conglomerates- a company that owns numerous companies involved in mass media enterprises, such as television, radio, publishing, motion pictures, theme parks, or the Internet.
7. Globalisation (in terms of media ownership) -The production, distribution, and consumption of media products on a global scale, facilitating the exchange and diffusion of ideas cross-culturally.
8. Cultural imperialism –  the over-concentration of mass media from larger nations, negatively affecting less powerful nations.
9. Vertical Integration – when a Media Company owns different businesses in the same chain of production and distribution
10. Horizontal Integration – a Media Company’s Ownership of several businesses of the same value
11. Mergers – a merger or acquisition in which 2 or. more of the undertakings involved carry on a media business in the State
12. Monopolies –  concentrated control of major mass communications within a society
13. Gatekeepers – Gatekeeping is the process through which information is filtered for dissemination, whether for publication, broadcasting, the internet, or some other mode of communication
14. Regulation – encouraging competition and an effective media market, or establishing common technical standards to achieve a goal
15. Deregulation – deregulation of the telecommunications industry pertains to relaxing ownership rules regarding such items as the number of stations a single television or radio owner can possess in a market and whether or not a single corporation can own a newspaper, or television and radio station in the same market.
16. Free market –  an economic system based on supply and demand with little or no government control
17. Commodification  – critical view of the media sees the commodities and commodification with two things that connect the object and process.
18. Convergence  –  the interconnection of information and communications technologies, computer networks, and media content.
19. Diversity  – finding ways to make content both physically accessible and visibly diverse. 
20. Innovation – is about change, and media products and services are changing

1. Cultural industries  
   An industrialised culture concerned with producing, reproducing, storing and distributing good
2. Production
   The creation of a piece of media
3. Distribution
   How a piece of media is delivered to masses
4. Exhibition / Consumption
   How media is presented and consumed by the masses of people
5. Media concentration
   The ownership of a piece of media by a number of individuals
6. Conglomerates
   A large company that owns the rights to multiple other company’s that are linked to media
7. Globalisation (in terms of media ownership)
   The worldwide integration of media through the cross-cultural exchange of ideas.
8. Cultural imperialism
   A theory that certain nations have a control over media around the world
9. Vertical Integration
   When media company’s own multiple company’s in the same chain of production
10. Horizontal Integration
    A media company that owns multiple company’s of the same value
11. Mergers
    Acquisitions of a media company by another
12. Monopolies
    When either an individual or a company has complete ownership of a genre or sub-genre of media
13. Gatekeepers
    When people determine who can look at specific pieces of media
14. Regulation
    When certain things are blocked from being published by the media
15. Deregulation
    The idea that there should not be regulations on what media can be posted due to the right of free speech
16. Free market
    A voluntary exchange and the law of supply and demand that provides for the economy
17. Commodification  
    The transformation of the relationship, which is trafficked into things that are free of the commercial nature of the relationship.
18. Convergence  
    The merging of media technologies and platforms through digitalization and computer networking
19. Diversity   
    A diversity of ideas, viewpoints or content opinions on a certain media subject
20. Innovation  
    An invention of a new value or idea for journalism

David Hesmondhalgh stats that the media business is a very “Risky Buisiness”. However company’s work towards minimising the risk of the business.

An example of this would be companies acquiring other smaller company’s that are

David wrote a book called “the culture industries”He argues that major cultural organisations create products for different industries in order to maximise chances of commercial success. His work is about tracing the relationship between media work, workers, and the industry.

‘for every individual who succeeds, there are many who do not. For many, it will be the result of a perfectly reasonable personal decision that the commitment and determination required is not for them’

David is a professor of media, music and culture at the university of Leeds. His research focus and interests are on the media and cultural, creative industries, cultural policy the politics of musical experience, and how ‘cultural platforms’ are transforming media. He joined the University of Leeds in 2007.

production, contribution and reduction

David Hesmondhalgh says about the culture industry:

products exist as a result of their economic context:

* products are made within a commercial context and media is manufactured to create profit.

The media industry is a high risk business

*the impossibility of predicting audience tastes coupled with the high costs of production and the effects of mass competition mean that the business of making commercially successful media is very difficult.

The media industry is reliant on marketing and publicity functions

*Products need the oxygen of publicity if they are to thrive

Media products have limited consumption capacity

*Unlike other businesses, films, television and music – based products tend to be consumed as ‘one off purchases

David Hesmondhalgh is a British sociologist. He is currently Professor of Media, Music and Culture at the University of Leeds. His research focusses on the media and cultural industries, critical approaches to media in the digital age, and the sociology of music.

Hesmondhalgh Theory:

Hesmondhalgh argues that major cultural organisations create products for different industries in order to maximise chances of commercial success.

Most products are consumed when used and have to be bought again, but media products are bought once and continually used – they never wear out. So, companies have to make a lot of money out of their products initially, because they don’t often resell the same product repeatedly.

His books include The Cultural Industries, first published in 2002, described by Herbert et al. He is acknowledged as a key figure in developing the “cultural industries” approach to media, which emphasises the complex and contradictory nature of cultural production under capitalism. He is frequently named as one of the leading analysts of cultural labour, partly based on his book Creative Labour, co-written with Sarah Baker

In his book, he also talks about the relationship between media work, media workers and the media industries.

Hesmondhalgh states that going into the cultural/media industry is a risky business.

“All business is risky” “but the cultural industries constitute a particularly risky business”

Production – Distribution – Consumption

• The media industry is reliant on marketing and publicity functions.
• Media businesses are reliant upon changing audience consumption patterns.
• Media products have limited consumption capacity.

The internet is dominated by a relatively small number of suppliers. Hesmondhalgh points to the dominance of search engines and their ability to point users to a small number of sources.

He wrote a book called Cultural Industries.

He argues that major cultural organisations create products for different industries in order to maximise the chances of commercial success.

His research focuses on the media and cultural industries, critical approaches to media in the digital age, and the sociology of music.

In his book, he also talks about the relationship between media work, media workers and the media industries.

He notes that the most successful creative people are born into the industry. E.g. They’re the son / daughter of a successful creative person.

‘for every individual who succeeds, there are many who do not. For many, it will be the result of a perfectly reasonable personal decision that the commitment and determination required is not for them’

The individualising discourses of ‘talent’ and ‘celebrity’ and the promise of future fame or consecration, have special purchases in creative work and are often instrumental in ensuring compliance with the sometimes invidious demands of managers, organisations and the industry (Banks & Hesmondhalgh, p. 420).