- Tags:
- Show more
- Pages:
- 3
- Words:
- 825
Media Economics: Students Name: Tutor: Course: Date: Media Economics: The Deadline Meets the Bottom Line Introduction The chapter ‘media economics’ creates insight on the economic realities of the social responsibility of the media. The media regulatory bodies provide several economic and legislative measures to enhance the control of the information in the industry. The chapter also explains how various mediums adjust to the real economic, technological authenticities of the media. Also, the chapter sought to assess the bottom line and value creation to both the stakeholders and stockholders in the theory of economic success. The chapter will answer the big question that most people ask on whether the news is worth paying for. It will elaborate on various ways of how media makes money. Just like in any other perfect competitive market structure, the media industry experiences an ever-increasing competition which results from technological advancement and minimum entry barriers. Various media companies are competing for the largest market share by creating a wide market coverage. Advertising is one of the main revenue streams to the media agents, and the clients will always seek the platform with adequate reach to the target audience. Therefore, the media’s competitive advantage is measured with the market share since it is their primary ability to generate revenue. Competition and its impact on news The attempts of gaining and maintaining a sustainable market share start by meeting the market needs. Specific media companies strive to uphold a high level of professional ethics and filling their corporate social responsibility to please the majority of
Leave feedback