Media Industries (terms)

• A media conglomerate is a large corporation that owns a large number of media companies (subsidiaries) e.g. Warner Bros Pictures.
• Convergence is the coming together of technologies and institutions to create a new product or media experience e.g. smartphones can do the same job which newspapers used to accomplish separately.
• Globalisation is the process that has seen international flows of trade, business, media and cultural products become speedier and more intensive e.g. CNN broadcasts its news around the world.
• Horizontal integration is when companies who acquire other companies operate in the same sector e.g. Walt Disney's acquisition of 21st Century Fox.
• Media synergy is the co-production of a related set of media products or services all developed in-house by a large media corporation e.g. lowering salaries.
• Vertical integration is when a company owns all of the stages of production of media products e.g. Apple and Amazon.
• A corporation is a large company or group of companies authorised to act as a single entity and recognised as such in law e.g. Apple and Amazon.
• A multinational company is a company that has business operations in at least one country other than its home country e.g. McDonald's.
• A commercial company is a company or individual involved with selling a product or offering a service e.g. retail stores.
• A Public Service Broadcaster is television and radio programmes that are broadcast to provide information, advice, or entertainment to the public without trying to make a profit e.g. BBC.
• Cross Platform marketing is a digital marketing strategy businesses use to meet their audience e.g. targeting a Facebook ad to a specific individual, collecting their cookie and then retargeting them with the same message on Instagram.
• Remit (television) outlines a broadcaster’s area of responsibility e.g. the BBC’s is “to inform, educate and entertain”.
• Media Regulation is the process by which a range of specific, often legally binding, tools are applied to media e.g. PEGI regulates video games.
• A High Concept film is a film with a unique and attention-grabbing hook that sets it apart from similar films e.g. The Matrix: action and sci-fi.
• An Independent film is a film that is produced outside the major film studio system, without the funding or formula of studio films e.g. I, Daniel Blake.
• PSB is broadcasting that is created for the benefit of the public rather than generating commercial revenue or serving the commercial interests of shareholders.
• PSB is required in the UK as part of government legislation to guarantee that programming is being produced that meets the needs of all audiences.
• Ofcom ensures that PSBs are conforming to the requirements as part of their licence to broadcast. They are called the Public Remit and these can be applied to commercial broadcasters.
• Commercial Broadcasters are privately owned companies and their primary purpose is to make profit for their shareholders.
• Commercial Broadcasters can generate profit through:

  • Selling advertising revenue
  • Subscription services
  • Brand sponsorship
• Commercial Broadcasters are often owned by large corporations or conglomerates.
• The Public Remit purpose 1: To inform our understanding of the world.
• The Public Remit purpose 2: To stimulate knowledge and learning.
• The Public Remit purpose 3: Reflecting UK cultural identity.
• The Public Remit purpose 4: to represent diversity and alternative viewpoints.
• The BBC purpose 1: To provide impartial news and information to help people understand and engage with the world around them.
• The BBC purpose 2: To support learning for people of all ages.
• The BBC purpose 3: To show the most creative, highest quality and distinctive output / services.
• The BBC purpose 4: To reflect, represent and serve the diverse communities of all the UK’s nations and regions and support the creative economy across the UK.
• The BBC purpose 5: To reflect the UK, its culture and values to the world.
• A company is 'commercial' when it becomes media that doesn't rely on public funding. The media that has to get their money from private investors and commercials, but don't have a public commitment.
• Regulatory bodies are set up to monitor, control and provide a framework for an industry to operate within and they are designed to protect consumers and citizens.
• Ofcom regulate TV and Radio.
• BBFC regulate Film.
• IPSO regulate Newspapers and Magazines. Impress regulate journalism.
• ASA regulate UK Advertising.
• VSC regulate Video Games.
• 2 negative impacts convergence has had upon Media Producers:

  1. There are more competitors in terms of producers.
  2. There are more competitors in terms of time and money.
• 2 positive impacts convergence has had upon Media Producers:

  1. It is much easier to reach audiences and target specific groups of people.
  2. There are more opportunities to generate revenue.
• 2 impacts convergence has had upon Media Consumers:

  1. They expect more content to be available and sometimes for free.
  2. There are more options for which to consume media products.