MIGRAIN: Industries - Ownership and control

Media Magazine reading and questions

Media Magazine 52 has a good feature on the changing relationship between audiences and institutions in the digital age. Go to our Media Magazine archive, click on MM52 and scroll to page 9 to read the article 'Two Key Concepts: The Relationship Between Audience and Institution'.

1) Briefly describe the production, promotion and distribution process for media companies.

The production considers audiences want and desires, and should gratify them through the media product. The promotion identifies target audiences and uses marketing to persuade audiences of its value. The distribution makes the accessibility of a media product easy.

2) What are the different funding models for media institutions?

The different funding models are license fee funded, advertiser funded, subscriber funded and readership funded.

3) The article gives a lot of examples of major media brands and companies. Choose three examples from the article and summarise what the writer is saying about each of them.

Disney is recognised for family friendly children's entertainment, animation in the 20th century, merchandise and beloved products that forms the conglomerates reputation. Whilst Marvel is inextricably intertwined in the superhero movie genre, though for an older audience, it supports typical values implemented in the genre, the familiarity of the franchise cultivated a loyal audiences for decades.

4) What examples are provided of the new business models media companies have had to adopt due to changes in technology and distribution?

The movie industry invests in 3D tech to encourage audiences to go to cinemas, companies cannot make money off the sale of the music alone and they now utilise sponsorships, merchandising, live shows and a percentage of the artists personal income.

5) Re-read the section on 'The Future'. What examples are discussed of technology companies becoming major media institutions?

Google owning Youtube and revolutionising how music is accessed, Amazon, Netflix ,Yahoo produce and broadcast TV, Facebook brought virtual reality tech that allows people to attend events digitally.

6) Do you agree with the view that traditional media institutions are struggling to survive?

Yes and traditional media is struggling to adapt as fast with quickly changing world and are slowly being dropped such as the fall of print, magazines and newspapers.

7) How might diversification or vertical integration help companies to survive and thrive in a rapidly changing media landscape? 

Vertical integration allows for a higher profit and reach of products to audiences whilst saving costs, diversification helps companies could reverse years of declining revenue and allow companies to gain traction with newer or younger audiences.

8) How do YOU see the relationship between audience and institution in the future? Will audiences gain increasing power or will the major global media conglomerates maintain their control?

I believe the global media conglomerates will maintain control due to their monopoly over the industry and tehy will continue to grow due to it.