1. The Structure of Media Organizations Media Organizations follow a traditional industrial structure: Production Distribution Exhibition and/or Point of Sale

2. Media Economics: Revenue Direct Payment (Consumers Pay: CDs) Indirect Payment (Advertisers Pay: Broadcast TV) Both (Cable TV: Subscriptions and Ad Support) Economies of Scale Enhance Profit Potential

3. The Structure of Media Industries Conglomeration: Disparate Business In One Corporation Concentration: Few Owners In One Industry

4. The economics of the media industry Patterns of ownership Concentration of ownership Conglomeration vertical integration: movie industry horizontal integration: Time Warner A QUESTION: WHOSE PURPOSES ARE SERVED BY THESE TRENDS?

5. The Structure of Media Industries Monopoly Oligopoly Limited Competition Vertical Integration

6. The economics of the media industry The effects of conglomeration Media control and political power Rupert Murdoch The concept of hegemony Media ownership and diversity Homogenization: Local News Efficiency and Quality: Recorded Music Industry Profit: Incentive or Obstacle? Impact of Advertising A QUESTION: WHOSE PURPOSES ARE SERVED BY THESE TRENDS?

7. Media Economics: Social Issues Concentration: The Limits of Anti-Trust Law Consumer: Choice or Control Cultural Imperialism Media Marketplace and Democracy

10. The Structure of Media Industries Deregulation and Special Exemptions as Responses to Convergence of Modes

11. The Structure of Media Industries Current Trends: Globalization and Specialization