Organic convergence refers to the way in which one organism can consume multiple types of digital media at one time. Consumers' choice & minimal government control. A conglomerate can grow by acquiring companies, whose shares are more discounted, thereby showing growth in earnings. Another essential aspect of cultural convergence is the widespread use of social media. A downturn suffered by one subsidiary, for instance, can be counterbalanced by stability, or even expansion, in another division. After that TV turned into a fundamental source of assets for the mass communications. In the context of Anglo-America, domination could not be possible without the assistance of media which strives to expand its hegemony while fending off challenges and interventions from the very classes and groups it seeks to subjugate," (Split Image, African Americans in the Mass Media). We also have entertaining programs like music program on the radio and on the television. Organic convergence refers to the way in which one organism might use multiple media functions at one time (e.g., watching a movie on the internet while chatting online with a friend and googling a new recipe for dinner). Conglomerates are often composed of companies in different industries that operate in different parts of the world. Generally, mass media is a print and electronic means of communication that spreads messages to the audiences and carries out information to the people in the society. But along with conglomeration come many advantages and disadvantages. Which is to say, mass media simultaneously benefits us and creates new problems. I guess thats a polite way to say. Print media take advantage of the internet as well. Finally to increase learning among children researchers suggests that co-viewing of Parent and children should be promoted in families in Pakistan. Since 1950 media conglomerate has become a regular feature of the global economic system. In essence, owners no longer need to try to appeal to the widest possible audience in a single media format. In 1962, the dispatch of a satellite offered access to overall news. In The Outrage Industry, Berry and Sobieraj argue that the topic of media outrage is very multidimensional. Boeing is a multinational conglomerate that has a number of subsidiaries that operate in different markets. The Walt Disney Company, for example, is a media conglomerate that owns and operates businesses in the entertainment, parks, resorts, and consumer products industries. A conglomerate can show earnings growth, by acquiring companies whose shares are more discounted than its own. One of the most important benefits is that they diversify the risks associated with being in only one market. People get news daily through the media and this keeps them updated on the happenings around the world. These subsidiaries include Sony Electronics, Sony Mobile, and Sony Pictures. The point of view rose in the mid 1970 's as Katz and his two associates, Jay Blumler and Michael Gurevitch kept on extending the thought. English 103: Analyzing and Interpreting Literature, Environmental Science 101: Environment and Humanity, Psychology 105: Research Methods in Psychology, Create an account to start this course today. Diverse media products alternative outlets offered by subsidiaries. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life. OC disadvantages 1 All told, we have more ways to reach more people than weve ever had in the history of humankind. Dongfeng Motor is a conglomerate that has a number of subsidiaries that operate in different markets. Media convergence is driven by the development of computer technology, such as smartphones. Technological convergence is also sometimes referred to as digital device convergence. A newspaper company may begin by acquiring television and radio stations before purchasing book publishers. 3M is a conglomerate that has a number of subsidiaries that operate in different markets. One example of a Conglomerate merger is the combination of Dow Chemical and DuPont, which was announced in December 2015. Definition, Benefits and Techniques. A. The Uses and Gratifications Approach sees the gathering of people as dynamic, implying that they effectively search out particular media and substance to accomplish certain outcomes or delights that fulfill their own needs. Many media corporations have developed cross-media content to adapt to this new technological reality. For example, in 2014, Walmart (WMT) announced that it would be building a new distribution center in Texas that would create more than 500 jobs. Later the radio provided another source to achieve the majority. Mass Media Research Concept & Examples | What is Mass Media Research? Cultural convergence is the way in which cultural output is affected by these developments, such as through trans-media storytelling and social media use. This includes television, radio, advertising, movies, internet, newspapers, and magazines. Smartphones, tablets, and other smart devices offer a plethora of services that used to only be available through various, unconnected technologies. Today, there are many various sorts of more specialized conglomerates, ranging from manufacturing to media to food. Media conglomeration means that several media companies of different purposes combines together to form conglomerates. They also benefit from synergies between its subsidiaries to gain access to new markets and technologies. Synergy is the creation of value by two or more entities working together that is greater than the sum of the values of the individual entities. Increasingly, taking cross-enterprise synergy into account is essential for investors to properly evaluate future prospects has been done by GE effectively. The main disadvantages of the conglomerate model are as follows. In the end, what are your thoughts on Conglomerates? Plus, get practice tests, quizzes, and personalized coaching to help you Another advantage of this is that what works for the people also works for the media. . Monopoly. What is the e Why does economics drive most media companies? . Outrage is defined as avstrong reaction with anger, shock, or rage. San Francisco : Jossey-Bass. A conglomerate merger provides the merging companies with the advantage of diversification of business operations and target markets. The main objective of this research paper is to identify the working process and to recognize the challenges in the working mechanism. At its best, this is unfair. they cannot report what people need and/or want to know, they can only report what the government wants the people to know (Censorship Effects on Society). There are more than 32,000 broadcast radio and TV stations in the U.S.,* along with hundreds of cable TV and satellite radio stations. There are a variety of consequences of media convergence, some positive, such as greater convenience for users, and some negative, such as less regulation of untrue and misleading content. In a May 2003 article appearing on the Heritage Foundation, James Gattuso - a senior research fellow in regulatory policy - reports that the ability to own multiple television stations, for example, allows the owners to provide programming for niche markets on the different stations. A faction is basically a group of people who all agree upon the same thing and their point of view is different from other factions. Only time will tell the true consequences of media convergence and whether the advantages or disadvantages prove more powerful. In this advance era, mass media plays a significant role towards all of us and we can truly admit that mass media is one of the basic essenssial that used by everyone in their daily life. The United States and many other countries see the internet as a threat and a means of control which is why information of the World Wide Web is censored (Bennett). This has made it harder for media companies to control the news narrative, which has led both to expose new, true information to the public and the propagation of fake and manipulative content. Some of the advantages are that there is diversification, which can result in the reduction of investment risk. I am a Digital Marketer and an Entrepreneur with 12 Years of experience in Business and Marketing. Media corporations often employ multiple media formats, such as TV, print and the internet to enhance their offerings. 14. 3. If conglomerates control the mass media, and it is the people who decide what they want to see, then the control of the government is reduced. Advantages and Disadvantages of Media Consolidation Pros of Media Consolidation Media for the Consumers What works for the consumers, works in the media. Series. Central Broadcasting System created Viacom in an effort to own cable television systems and to syndicate its own programs. advantages in society, and have limitations restricting them or their rights. Malaysian has the right to freedom of speech which is guaranteed by Article 10 of the Constitution of Malaysia. Two final aspects of media convergence are organic convergence and global convergence. Due to these media conglomerates the theory of media imperialism evolved which states that due to over concentration of mass, Chris Hedges article, Our Country Is Lost Believing in What It Sees on Screens, and We Are Going to Pay a Nasty Price for It, highlights the negative influence electronic media has on society. For instance, electronic news media typically favours one political party over another and their articles persuade individuals to vote for the particular. Mass Society Theory Examples & Features | What is Mass Society? Why does economics drive most media companies. As much as mass media can connect us with people all over the world, it can disconnect us from the people right in front of us. Media has detrimentally influenced. Sometimes conglomeration can refer to a time period when many conglomerates . Conglomerates also have access to new markets and technologies. Over the years, technologies have been gradually advancing and have played an important role in todays fast growing societies. Global Convergence refers to the influence of media from different cultures spreading across the globe. Potato chips might be the first product offered by a food conglomerate. That is not to say that digitization has been only a beneficial process. Cultural Convergence is the way in which people experience cultural phenomena across a variety of different media platforms. While mass media can create opportunities for anyone to share their story, the vast majority of our mass media is bought. Do you think they are good or bad for the economy? Air India to discontinue Vistara after merger, DS Group Partners with Lderach (Swiss Chocolate Maker), Castrols unveils a New Logo and a Refreshed Brand Identity. Its like a teacher waved a magic wand and did the work for me. Electronic Media is a form of entertainment, knowledge and communication and influences societys conductivity and is deeply censored, biased and manipulative in order to control society. Some positive consequences of media convergence are the simplification of media creation, the acceleration of media distribution, and the democratization of media production. This is because diversity reduces risk, not only for unforeseen events, such as particularly adverse conditions in one sector or unexpected bankruptcy in one company, but also in the differing effects of the business cycle on individual businesses. See also 10+ Advantages and Disadvantages of Technology. He also satirises the. Copyright 2023 IPL.org All rights reserved. The use of multiple formats allows media companies to offer extensive additional information. Philip C. Galanis states in his essay The Fourth Estate of The Bahamas For many decades, there has been historically a tug-o-war between the media and politicians in the Bahamas. Why does economics drive most media Companies? Some of the popular examples of conglomerates around the world are. Other major players are Comcast and Sony. If youre interested in mass media, there are plenty of opportunities to make this field a career. Conglomerates require less manpower than companies that are not conglomerates. Fill out the form and we will contact you to provide information about furthering your education. lessons in math, English, science, history, and more. . Conglomerate diversification is a strategy employed by large corporations to expand their businesses into new and unrelated sectors. Media help to correlate or co-ordinate various parts of the social system by gathering and disseminating valuable information. Any act that against this law may lead to fines or in much extreme cases, prison sentence. Let us have a look at some of the key benefits of conglomeration-. Newspapers such as the NY Times, Denver Post and USA Today maintain websites, as do major magazines such as Time and Newsweek. Nevertheless, the issues will be addressed from the perspective of the media conglomeration in Malaysia. On the other hand, it has allowed fake news to spread, facilitated increased surveillance, and allowed for pirating of copyrighted material. Since 1950 media conglomerate has become a regular feature of the global economic system. In-House Departments | Functions, Pros & Cons, Understanding the Role of Books in Mass Communication, Issue Management Process | Public Relations Issues. Please use our International Form if you live outside of the U.S. Walden University is a member of Adtalem Global Education, Inc. www.adtalem.com, Walden University is certified to operate by SCHEV. Thirdly and finally, it will give . The TV was a mix of the radio and the newspaper and individuals were interested in it. Advantages And Disadvantages Of Cartels 712 Words | 3 Pages. As a result, the risks associated with being in only one market are diversified. Newspapers were still sought after and still utilized frequently. Small media operations often cannot afford to produce programming, hire the talent or the quality of technical staff to compete with larger media companies. This gives the richand those connected to the richa far louder voice than the rest of us. These subsidiaries include Boeing Commercial Airplanes, Boeing Defense, Space & Security, and Jeppesen. The societies rely on mass media for information, entertainments and even communications. 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A smartphone exemplifies the three C's: a computer that allows every user to communicate with others by sharing content. Media convergence and the digital devices that facilitate it are usually divided into various types to describe various phenomena observed as part of the media convergence process. Which of the following is a possible consequence of the growing role of social media sites? For example, smartphones can do the jobs which newspapers, GPS's, and telephones used to accomplish separately. According to Baran (2012) mass communication can be defined as the process of creating shared meaning between the mass media and their audiences. This essay aims to discuss the degree to which we are shaped by our interaction with the media. This is because conglomerates usually have a number of different subsidiaries that operate in different markets. The aforementioned two subsidiaries can help conglomerates to gain access to new markets and technologies. Dongfeng Motor has been able to utilize the synergies between its subsidiaries to create value for shareholders.
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