Media Terms and Definitions

Media terms and definitions....?

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Conglomerate, Consolidation, Audiences & Demograph

Conglomerate - A company that owns large numbers of companies in various mass media such as television, radio, publishing movies and internet. 

Consolidation - The concentration of ownership of news, information and entertainment in the hands of fewer and larger corporations.

Audience - The group of consumers for whom the media text was constructed as well as anyone else who is exposed to the text

Demographic - Measurable characteristics of media consumers such as age, gender, race, education and income level.

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Synergy, "Niche" Market, Marketing & Monopoly

Synergy - promotion and sale of a product (and all its versions) throughout the various subsidiaries of a media conglomerate.

"Niche" Market - Very specialised market segment within a broader segment. Specialist goods with few or no competitors. Customers look for exclusivity or some other differentiating factor, such as high status.

Marketing - The way in which a product or media text is sold to a target audience.

Monopoly - Any commercial process in which on seller controls prices and supply of product.

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Convergence, Subsidiaries & Oligopoly

Covergence - The merging of previously separate communication industries such as publishing, computers, film, music and broadcasting, made possible by advances in technology. 

Subsidiaries - A company that has been set up or aquired by another company that is usually larger or better known to the public as a result of its longevity or reputation.

Oligopoly - When few firms dominate the market, when larger scale media companies buy out smaller scaled or local companies they become more powerful in the market. As they continue to eliminate their business competition through buyouts of forcing them out (because they lack resources and finance) the companies left dominate the meida industry and create a media oligopoly. 

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