Journ 1100 1st Edition Lecture 13Outline of Last Lecture I. Gate KeepingII. Levels of gatekeepingIII. Sociology of newsIV. Gatekeeping & mediaOutline of Current LectureI. Who pays for journalism?II. Dual product modelIII. Market Ownership & Public SphereIV. Horizontal integrationV. Vertical IntegrationCurrent LectureWho pays for journalism?-Dual product model / 2 sided market in Econ.-Market ownership vs. public sphereDual Product Model / 2 Sided Market(applies to all media)Makes content to attract audienceMedia CompanyWants to make money, so sells audience to the advertisersThese 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.AudienceWants to be informed /entertainedAdvertisersWant to sell products toaudienceEx: 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 informedNews audience tends to be better educated, skews more older than younger, has higher incomeTwo-sided markets and Network effect facebookMarket 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 sectoro 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 needsHorizontal integrationConglomerate owning number of media outlets across the marketplace Ex: radio broadcaster owning 6 different outletsEx: Kelloggs and General Mills own a majority of all cerealsVertical IntegrationConglomerate 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 pressesCable company owns many channels along with production company of those
View Full Document
Unlocking...