The biggest difference between cultural industries or the media and other industries, is that while conventional industries produce goods that are tangible, media industries produce goods that are both tangible as well as intangible.

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The biggest difference between cultural industries or the media and other industries, is that while conventional industries produce goods that are tangible, media industries produce goods that are both tangible as well as intangible. Media industries can be seen as providing food for thought. Many common features are found in both industries. The idea of consumption changes from merely buying goods to choosing goods that gives us identity. The media provides these goods.

Both media as well as conventional industries are primarily concerned with the consumer. Supply and demand is a vital factor in both industries. If there were no demand for a commodity like orange juice, then production of that commodity would diminish. Similarly, if there were no demand for a particular newspaper, the newspapers circulation would diminish and be terminated. Both industries are beginning to see a high level of both vertical, as well as horizontal integration. With regards to vertical integration, Investopedia.com defines it as when a  “company expands its business into areas that are at different points of the same production path”

 An example of this would be a car company like Ferrari manufacturing its own tyres. In media, this can be seen with the daily news in that it has its own printing press. An example of Horizontal integration in the conventional sense would be if Debonairs Pizza started to produce burgers. In the media, this was evident when Calvin and Hobbes, a popular comic strip is transposed on the Internet as a flash file. A lot of money generated by these different industries goes back into advertising.

Media industries like traditional ones also have a largely triangular structure of ownership and power, in that there is usually one person or a few people owning a particular industry. This top-down structure has quite a substantial ripple on media industries. Critics believe that while owners of traditional industries are purely concerned by profit, media owners are also concerned about ideology, and promoting their agenda’s.

In Post Cold War 1990, There was a rise in a global commercial media system which is closely linked to the rise of a significantly and more integrated global capitalist economic system. Critics of Political Economy believe that the media has become an oligopoly, where freedom of speech is inhibited and political, economic and social values are subjective. They believe that media moguls are only in the pursuit of profit, and this is detrimental to objectivity. The lack of plurality can have dire consequences, like the development of a narrow-minded society. In a recent survey conducted in America, more people could identify eight characters from a cartoon South Park, than they could name their founding fathers.

Conglomerates like Sony have various affiliates and smaller companies. These companies have the same ideology as the parent company. Sony has taken a Pro War stance and this is evident in the feature films it produces, its television programmes etc. Sony Pictures have just released the movies ‘Basic’ and ‘Tears of the Sun’, that re-enforce this ideology and to convince society that the war was justified. A movie released soon after the attacks by Sony, Black Hawk Down was also used to drum up patriotism. Sony’s television programmes like Ricki Lake, Just Shoot Me and The Nanny also repeats this ideology. The media usually determines what is deemed popular or not. There is a world wide popular consensus that war in Iraq should have been averted, however, mainstream media outlets like CNN disregard this to further their own objectives and agenda’s. Gurevitch (1982) refers to this as Dissonance theory, which entails that an individual’s attitude is shaped and conforms to that projected by a trusted communication source

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Liberal pluralists believe that the media is constituted by many things and that many factors determine content. Liberal Pluralists believe that the owner is not the only one to determine what is newsworthy or content. They believe that many stakeholders try to combat one singular school of thought. These stakeholders include advertisers and shareholders.  Sanchez- Taberneo (1993) tries to illustrate the power of advertising, and the control that it has on the content of media

“ After having compared the content of various magazines over a period of seven years, drew the conclusion that, ‘in the magazines ...

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