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Mizzou JOURN 1100 - 2 Model Market

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Journ 1100 1st Edition Lecture 13 Outline of Last Lecture I II III IV Gate Keeping Levels of gatekeeping Sociology of news Gatekeeping media Outline of Current Lecture I II III IV V Who pays for journalism Dual product model Market Ownership Public Sphere Horizontal integration Vertical Integration Current Lecture Who pays for journalism Dual product model 2 sided market in Econ Market ownership vs public sphere Dual Product Model 2 Sided Market applies to all media Makes content to attract audience Wants to make money so sells audience to the advertisers Media Company These 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 Audience Advertisers Wants to be informed entertained Want to sell products to audience Ex cell phone is a 2 sided market Apple is as well because they must attract developers and manufacturers plus consumers Why do audiences value news Everyone wants to be informed News audience tends to be better educated skews more older than younger has higher income Two sided markets and Network effect facebook Market Ownership Public Sphere Market orientation market model newspaper trying to make profit o Not regulated Advantages promotes efficiency responsiveness more flexible and more innovative than private sector o Market achieves goals through economies of scale cost advantages business obtains due to expansion size can operate efficiently Public sphere public model tax money government o Recognize public sector can t meet all needs Horizontal integration Conglomerate owning number of media outlets across the marketplace Ex radio broadcaster owning 6 different outlets Ex Kelloggs and General Mills own a majority of all cereals Vertical Integration Conglomerate owning companies up and down chain of production distribution of media products own the entire process Ex resources production etc Ex newspaper publisher owns paper mill and presses Cable company owns many channels along with production company of those channels


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