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Media Commodities and Markets

Concepts, Terms, Et Ceteras. Media Commodities and Markets. Commodities???. Commodities: products/services sold in markets. Labor/Sale…not? Media Commodities: content/software/hardware. Commodification???. Products, ideas, values, feelings or people are turned into commodities.

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Media Commodities and Markets

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  1. Concepts, Terms, Et Ceteras Media Commodities and Markets

  2. Commodities??? • Commodities: products/services sold in markets. Labor/Sale…not? • Media Commodities: content/software/hardware.

  3. Commodification??? • Products, ideas, values, feelings or people are turned into commodities.

  4. Audience Commodity??? • Labor=Decision to buy

  5. How different? • Intangible, reusable, non-consumable • Serve other industries (ads/promote) • No Ads? • Info on other markets • Democracy • Ideological role?... • Reproduction? • Non Rivalrous • Intellectual Property • Expansive commodity/Franchise

  6. Diversification/Synergy/Franchising • Different commodities/markets but the same…?

  7. Media Markets • Where buyers and sellers come together to exchange media commodities. • Software/Hardware • Ads • Geography/Product • Industry? • Multiple markets (Sony)

  8. Understanding Markets • Supply…Producers • Low price=more buying • Demand…Consumers • Low price=more product • Underlying market goal… • Different Markets within ONE MEDIA Market…

  9. Markets In a Market?

  10. Market Structures • Monopoly: single seller of a product dominates the market • Local Newspapers • Cable • Oligopoly?...interdependence. • Monopolistic competition: many sellers, similar products, no perfect substitution • Magazines • Perfect competition: many sellers, same products, no domination

  11. Why Competition is Good??? • People make $$$ • More choice and better products • Regulate and/or lower price • Consumer power • Competitive markets are… • Effective • democratic

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