The media has made some considerable changes in the world’s point of view and behaviour. The media around us like the newspapers and TV have given us facts we about the world around us. This forms a specific role in the way they work and creates a structure for public debate. What gets published to the public is always under scrutiny and partly because of this the public rise and forces a political dispute.
Development in the media sector is affected by the wealth and the technological prowess of the country. The world’s media market has grown hugely during the last decade – there is a huge boom in technology and this enable the communication from one country to another to be much faster and efficient. The global media is dominated by around 50 major companies with the US being involved in around a tenth of them and the rest being European based. The companies have collected many smaller companies to help there distribution of the product as 75% of the global advertising market is owned by around 20 Media companies. This gives the company huge benefits and enables them to get the product to the customers on many different levels.The major global media companies include:General Electricity, worth £175.5bn owners of NBC an American television network and several other regional channels.
The company also makes components for electrical equipment and airplane parts.Viacom worth £49bn owners of the famous MTV music channel, CBS and NickelodeonAOL Time Warner worth 42.7bn is the biggest merger in the history of media between HBO, CNN, Music Warner, Time and Warner Books and AOL. The company lost millions from doing this, it was a mistake as it was during the dotcom boomComcast worth £42.3bn is the American broadband providerBertelsmann privately owned German company with companies such as BGM, (UK) channel 5, Ballantine and Bantam DellWalt Disney worth £26.9bn but also owning several theme parks shops and TV channels it also owns television channels such as ABC. It owns newspapers and film companies such as Miramax and Buena Vista.
Sony worth £18.2bn, owners of Sony Music and Sony Pictures.News Corporation worth £25.
5bn with many news papers under its belt including the sun and the times under the group name of News International. News Corp. also owns several television broadcasters – BSkyB (UK) and Star TV (Asia). Recently the Federal Communications Commission has approved News Corp.’s $6.6 billion purchase of DirecTV, the nation’s largest satellite television provider, a move critics have said will lead to higher prices and less choice for the consumer.Based in Australia, Rupert Murdoch’s News Corporation Limited has diversified media holdings in the U.
S., Canada, Europe, Australia, Latin America and Asia.”News Corporation has a history of taking significant risks and introducing new and innovative media services,” FCC Chairman Michael Powell stated. “Enhanced competition will increase pressure to improve service and lower prices for both cable and satellite television subscribers.”Advertising is the major source of income for most medias, just with one single click on a website gives the owner of the website a set fee for advertising, so websites will put huge amounts of adverts and pop-ups on your screen. A huge advertising boom has hit our media with the ability for companies to gain specific information about us through different medium for instance, loyalty cards, questionnaires and registration of electrical equipment.
They have the ability to automatically send you car insurance adverts when they see you buy car shampoo or wax. This is partly market research but it is a form of control that is gained by the companies which some people aren’t very pleased with as they feel it is intruding with there privacy. As advertising is such a major part of the media it will grow with the never ending wants of people.
Other sources of income come from us buying TV licences paying a few pennies for the papers or subscription charges for BSkyB / Cable etc. this isn’t a large percent of the costs the companies pay out but and some news papers actually make a loss from the sales of their news papers but gains it in ad’s. a prime example of papers losing money is the new FT glossy paper they want to create a completely new idea to fit in with the upper class life style the magazine will cost around £5.50 but they will still be making a loss out of the deal.But the global outlook is not looking good as a prediction by PricewaterhouseCoopers detailed how there was going to be less than a 5% growth in the media industry next year.Control is a major problem with the global media market as major flaws would appear quite quickly. To control the market you would need to create a universal exchange rate to form boundaries not letting a major co-operation a significant sector.
There is an agreement within newspapers, radio and TV based on TV and radio use. But the flaws begin to show when there is a cross between the media boundaries. The government are still trying to work out an exchange rate that will work; the search for a reasonable rate shouldn’t be ignored as the regulators will always need to judge certain rules using set boundaries. This also bring the question of who should be the regulator, if it were politicians then the media giants could turn on the government for not giving them what they want.There are several UK regulators including ITC, the BBC’s board of governors, BSC, BCC and several more also America has FCC, Australia the ACCC, each country having there own regulator is also a hard point to merge as some European countries feel a lot more relaxed about sex and drugs compared to others like India and China. Also even the current regulators don’t all have experience in each of the different sectors i.
e. the BBC’s board of governors have no experience in the newspaper sector. The digital sector is now also a huge problem with regulation as it is ripping the media at the seams with so many more possibilities. But other countries like Brussels have taken a keen interest in the way the British have begun to mould in the digital sector.The technological progress off the media market is dependant upon the telecommunications, printing, cable companies, and computer technology and transmission techniques. Some large conglomerates own printing companies and component companies e.
g.. ‘General Electric’ which enable them to benefit from creating there own technologies to produce a better service for their company.