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U of M JOUR 3745 - Business of Popular Culture

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JOUR 3745 1st Edition Lecture 2 Outline of Last Lecture I. Mass Media and Popular Culturea. Mass communicationb. Mass mediac. Mass media industriesII. Characteristics of culturea. Mass media as cultural story tellersb. Mass media as cultural formIII. John Storey’s 6 Definitions of Popular Culturea. Quantitativeb. High culture vs. low culturec. Mass cultured. Folk culturee. Gramsci-hegemony-strugglef. Close modern cultureIV. High culture scholarsa. Popular culture scholarsb. Steven JohnsonV. Popular culture: our approachOutline of Current LectureI. Media Trendsa. Mass Media ConglomeratesII. Stages from creator to consumerIII. Types of Ownershipa. Vertical Integrationb. Horizontal IntegrationIV. SynergyV. Questionsa. Advantages/ Disadvantages of Horizontal/ Vertical integrationThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.b. Profit MindsetVI. Graziana. Main thesisb. Going with what you know c. Secondary Market Current LectureThe Business of Pop Culture5 Media Trends 1. Media Fragmentation2. Concentration of Ownership (within one industry)3. Mass Media Conglomerates4. Cross-Media Ownership5. GlobalizationTop 5 Media Conglomerates 1. Walt Disney Company2. 21st Century Fox3. Time Warner Cable4. CBS5. Viacom- A shrinking number of corporations now own the worlds major media outlets, and therefore increasingly control the kinds of narratives and information people have accesstoo- What Implications does the concentration of ownership of conglomerates?o You can do things the way that you want and control the costStages from create to consumers- Production (studios, publishers, etc.)- Distribution – Involves marketing and making money, this is where the conglomerates come in. - Exhibition- Where you view the media (Movie theater, book store, etc)Two Types of Ownership Vertical Integration- is an arrangement in which the supply chain of a company is owned by that company. Usually each member of the supply chain produces a different productor (market-specific) service, and the products combine to satisfy a common need.Horizontal Integration- is a strategy where a company creates or acquires production units for outputs which are alike - either complementary or competitive. One example would be when a company acquires competitors in the same industry doing the same stage of production for the creation of a monopolyExample: Movie Studios working with Vertical Integration - Talent agencies to acquire scripts and sign actors- Production studios to create films- Distribution companies to market the film and manage its release to theaters- Valuable venues to show the moviesWhat are some advantages/ disadvantages of vertical integration to media companies?Advantages:- Minimize risk with integration - Don’t have to pay for royalties - Easy distributionDisadvantages:- The same thing over and over - People stop purchasing your item (magazines, etc)- Musician with a different soundWhat are some advantages/ disadvantages of Horizontal integration?Advantages-- Book can be made into movie or tv seriesDisadvantages:- If you push the thing to much people will get bored- People might not watch your show- Control of information- Quality and differentiate of contentProfit Oriented Mindset- Sources of revenue- D.V.D- LicensingGrazian Article Creative Talent -> input boundary (1st set of boundary spanners, “agents” – people who decide who makes it in)Output Boundary (2nd set of boundary spanners – publicists) Gatekeepers (surrogate consumers – t.v/ movie critics, minimal risk not quality)Main thesis- Decision making in the media goes with what will be minimal risk – not qualityGoing with what you know- Established Genres- Copy Cat Strategy- Actors, writers, and producersSecondary Market-1. Music in another media format- songs for movies, commercials, TV shows, etc.2. Movies – Global Distribution3. Movies- Straight to home entertainment4. TV Shows – Reruns (syndicated shows)Need For Blockbuster Strategy 1. Mass production of “B” products2. Sequels, prequels, remakes and spin offs3. Global/ international cinema market4. Branding and merchandising 5. Promotional synergyShifting the burden of riskEX: Musicians having to produce their own music and put it out there waiting to be signed by a major


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