Moreover, technological convergence has seen the rise of social media journalism. Dongfeng Motor is a conglomerate that has a number of subsidiaries that operate in different markets. The whole is often worth less than the sum of its parts. The deal gave Exxon a controlling stake in one of the worlds largest undeveloped natural gas fields. Media conglomerates such as Viacom, represents the historical and present ideas of consolidation and convergence. Media convergence is a transformative process and has had major effects on people's lives and society as a whole. HARM than MERITS. Learn all about media convergence, its definition, and examples, and see the different types of media convergence. Global convergence is the globalizing influence of digital media, which allows cultures to affect one another around the globe through media. Your email address will not be published. Bagdikian writes of the conglomeration effect stating that "the awesome power of the contemporary mass media has in one generation been a major factor in reversing the country's progressive political, social and economic momentum of the twentieth century." (pg. Required fields are marked *. These media conglomerates exist in Europe, Asia and Latin America. Synergy is the creation of value by two or more entities working together that is greater than the sum of the values of the individual entities. 84 lessons. You must have JavaScript enabled to use this form. The working in partnership the key element of multi-agency, therefore the working of the multi-agency is faces variety of changes, however the perspectives and approach of the agency is supported by the government to enhance social condition, education and health facilities (Atkinson, 2005). Excessive commercialization. In essence, owners no longer need to try to appeal to the widest possible audience in a single media format. In short, the effect of mass medias influence is complicated. Print media take advantage of the internet as well. Only a few companies representing the interests of a minority elite control the public airwaves. In the context of Anglo-America, domination could not be possible without the assistance of media which strives to expand its hegemony while fending off challenges and interventions from the very classes and groups it seeks to subjugate," (Split Image, African Americans in the Mass Media). What is Meant by Piercing The Corporate Veil? The research methods that Sobieraj and Berry use within their argument are quantitative and qulalitative. When the media broadcasts negatively charged reactions between political journalists or politicians, their ratings go up. An international conglomerate is a conglomerate that operates in multiple countries through unrelated businesses. Some of the ways through which companies conglomerate are-. Previously researchers have found that all types of electronic media whether its TV or computer or internet or social media have negative impact on children but now researchers are focusing on educational aspect of media and how educational programs can help in developing cognitive thinking among children. lessons in math, English, science, history, and more. A conglomerate can be made up of many businesses within the same industry or from different industries in order to diversify the business and mitigate financial risk. While mass media can create opportunities for anyone to share their story, the vast majority of our mass media is bought. The Uses and Gratifications Approach sees the gathering of people as dynamic, implying that they effectively search out particular media and substance to accomplish certain outcomes or delights that fulfill their own needs. Small operations that compete with large operations often suffer for or go under from a lack of resources. Some positive consequences of media convergence are the simplification of media creation, the acceleration of media distribution, and the democratization of media production. In The Outrage Industry, Berry and Sobieraj argue that the topic of media outrage is very multidimensional. Conglomerates also have access to new markets and technologies. 01English, Database: Ashford, SOCIntroductions to Ethics & Social Responsibility. 12 chapters | Organic convergence refers to the way in which one organism can consume multiple types of digital media at one time. Cameras, microphones, servers, computers and the necessary editing programs have significant costs more easily handled by a corporate entity than an individual owner. A conglomerate can also show the growth of earnings, this is by acquiring companies who have shares that are more discounted then their own. Since 1950 media conglomerate has become a regular feature of the global economic system. English 103: Analyzing and Interpreting Literature, Environmental Science 101: Environment and Humanity, Psychology 105: Research Methods in Psychology, Create an account to start this course today. What is the e Why does economics drive most media companies? Some of the disadvantages are that Culture clashes can destroy the value of the company; the extra layers of management can increase costs. The three C's of media convergence are computing, communication, and content. Diversification can, however, have disadvantages. But in the long run by conglomeration both industries will profit off of it because they will be able to widen the spectrum of their companies which means that they will be able to produce more shows and movies at once. While diversity still clearly exists, there is the risk that mass media might reduce cultural variety, leaving us with less art and fewer inspirations. From the in-depth movie analysis, this essay will be able to show that the media is able to influence the people and their stance towards certain topics by applying these media theories: agenda setting through gatekeeping, dramatization, and two-step flow of communication. Another advantage of this is that what works for the people also works for the media. Some of the advantages include minimal control by the government. It has become a major factor in the society as people are depending on it to accomplish specific tasks. Digitalization facilitates fake news and manipulative media content. An example of economic convergence is the large number of media mergers that occurred in the 1990s and early 2000s (Disney-ABC, Viacom-CBS, NBC-Universal, etc.). Now, readers of these newspapers can comment on an article and express their opinion. From newspapers and radios to televisions and social networks, the various forms of media have provided the public with more knowledge and accessibility to information and connectivity to others than ever before. Media Effects Theory, Beliefs & Influences | What is Media Effect? A conglomerate can show earnings growth, by acquiring companies whose shares are more discounted than its own. As a result, the conglomerate may find it difficult to respond to changes in the market. Those involved in multimedia studies have been answering this question in different ways for many years. Three C's of Media Convergence: Content, Corporations & Computers, Psychological Research & Experimental Design, All Teacher Certification Test Prep Courses, Advantages and Disadvantages of Media Convergence, What Is Mass Media? See also 10+ Advantages and Disadvantages of Technology. Central Broadcasting System created Viacom in an effort to own cable television systems and to syndicate its own programs. Conglomerate (company) - Wikipedia In a conglomerate, it is vital to set up efficient systems to ensure productivity across subsidiaries to maintain productivity and profits. Taking a look at the different Why Does Economics Drive Most Media Companies? Media convergence is not one process but a number of different processes which occur simultaneously and influence one another. Narrowcasting Background, Use & Examples | What is Narrowcasting? Mass Media Research Concept & Examples | What is Mass Media Research? As a member, you'll also get unlimited access to over 88,000 By contrast, conglomerate diversification is the product of two companies that have little in common coming together, which presents a unique set of advantages and disadvantages. This comes at a drawback. The enactment of the Multimedia and Communication Act 1998 strategises the local broadcasting industry for a positive and competitive future. For example, a conglomerate may have a subsidiary that manufactures cars and another subsidiary that manufactures tires. Economic convergence refers to the economic strategies widely adopted in response to technological convergence by media companies. For example, in 2013, General Motors (GM) announced that it would be extending its Chevrolet brand into the bicycle market with the launch of a new line of electric bicycles. What Is A Conglomerate? (With Advantages And Disadvantages) 1. If you want to put yourself in a position to succeed in this large and important field, theres no better choice than earning a BS in Communication. Diversification results when a company expands its business to areas that are outside its core functions. Conglomeration means a few large media companies own a large proportion of various media. There are two types of conglomerate mergers: pure and mixed. Multimedia studies help us understand the benefits and drawbacks of mass media. 2023 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. In this study positive side of media is highlighted as well as negative effects. Diverse media products alternative outlets offered by subsidiaries. There are two parts of the credit agreement, the 8-year term loan and the penny warrants. This can be seen as an insurance policy for the parent company, as the performance of one subsidiary may offset the performance of another. OC disadvantages 1 Devices such as smartphones, tablets, smart TVs, and smart automobiles spur and facilitate this process. They also benefit from synergies between its subsidiaries to gain access to new markets and technologies. - Definition & Overview, Franchisee in Marketing: Definition & Explanation, Influencer in Marketing: Definition & Overview, Intangibility in Marketing: Definition & Overview, Learned Behavior in Marketing: Definition, Types & Examples, Marketing Orientation: Definition & Examples, Schedule Variance: Definition, Formula & Calculation, Working Scholars Bringing Tuition-Free College to the Community, Speeds up and expands possibilities of media content distribution, Users can access multiple types of media on one device, Democratization of media (anyone can produce media on a social media website), Expands access to information (anyone with an internet connection can listen to open courses from American universities, for example). Deregulation refers to government deregulation over these companies' size and functions. Management's attention can be drawn thin due to layers of management to every conglomerate company. People get the latest news in a very short time. In this advance era, mass media plays a significant role towards all of us and we can truly admit that mass media is one of the basic essenssial that used by everyone in their daily life. Through television and radio programs, people get to learn about health matters, environmental conservation, and much more. Technological convergence is also sometimes referred to as digital device convergence. Andersen, R,.Thomas, H., Kominski, & Gerald. Why does economics drive most media companies. However, in recent years the media has, like other agencies, come under the influence of politicians. Monopoly. What are alternative ways the. Copyright 2023 IPL.org All rights reserved. Mass media can be divided into two categories, which is the print media include like newspaper, magazines, and books. Due to these media conglomerates the theory of media imperialism evolved which states that due to over concentration of mass, A media source which ignores or censors important issues and events severely damages freedom of information. In-House Departments | Functions, Pros & Cons, Understanding the Role of Books in Mass Communication, Issue Management Process | Public Relations Issues. Hugh Zimmerbaum is a prospective PhD student in Slavic Languages and Literatures; After earning his BA degree in Literature with a concentration in Russian Studies in 2018, he spent two years as an EFL teacher in Russia. The TV was a mix of the radio and the newspaper and individuals were interested in it. One professional consultant who pioneered these formats justified them by claiming, People who watch television the most are unread, uneducated, untraveled and unable to concentrate on single subjects more than a minute or two. (Lazere 306). Personal Injury: Stunts portrayed in the media have led to severe injuries for some people who do them. Fiat Chrysler is a conglomerate that has a number of subsidiaries that operate in different markets. GE has a number of subsidiaries that operate in different markets. These subsidiaries include GE Aviation, GE Healthcare, GE Capital, and GE Industrial Solutions. This review study shed light on the debate over positive and negative aspects of media. Copyright 2023 IPL.org All rights reserved. In nations described as authoritarian by most international think-tanks and NGOs media ownership is generally something very close to the complete state control over information in direct or indirect ways. There have been a number of negative and very impactful consequences of the restructuring of the media landscape: There are two sides to every coin, and media convergence is no exception. Advantages And Disadvantages Of Media Conglomeration
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