However, after considering the current state of global media ownership I am reconsidering my argument. It seems that there are fewer individuals and organisations that control 'the media', leaving media industries highly concentrated and dominated by a small number of organisations who dictate the media agenda.
Therefore, have we become oblivious to the oligopolies behind the media that have a stronghold on what we read, hear and see?
First of all, what is an oligopoly?
In the context of the media, Steven (2003, p. 41) defines an oligopoly as 'where a group of the largest companies control the industry'. Steven writes that oligopolies can tactically agree on standards, regulations, division of markets and even prices within the confines of the law (2003, p. 41). Whilst Steven (2003) argues that there are various economic and political benefits as a result of oligopolies there are also many negatives. In particular, the media organisations who dominate the media market can decide whether or not to suppress media items that don't serve their own agendas or monetary interests.
The clip above argues that the concentration of media ownership in the US has reached dangerous levels. The five companies listed above own more than 90% of the media holdings in the US which. Such market concentration results in these companies not only deciding what media we should consume but they also decide what media to leave out. It is arguable that it is what we don't see that is often the most important and we, the public, suffer as a result.
Therefore, when we consider the links between the media and globalisation and whether we are living in a 'global village' remember the oligopolies....
References:
Steven, P 2003, The no-nonsense guide to the global media,
New Internationalist, Oxford, pp. 37–59
Hey Hannah!
ReplyDeleteI like that a week on, and with more information, that you were able to change your opinion and better yet, admit it! This seems to be something that many in the media struggle with! Also I like that you've included a youtube clip in order to break the text up!
Hey, I think you pose some interesting questions. I think from the evidence you have provided within your blog we can see the powerful media oligopolies are ever refining their hold on the media content provided to audiences. But what is interesting is that as the media corporations converge and gain greater control, are we - as consumers, also gaining power?
ReplyDeleteNot only a power to provide feedback and debate through social media devices but also the ability to disseminate and justify aproval or disapproval of content as our awareness of media boides increases. With this in mind, is there a reciprical relationship between the media corporations and the recievers?
But great blog, drawing on some fantastic points within this weeks readings, clear layout that informs while also being interesting and the youtube clip enhances your blog. Good work.
Nice read. Good points about the concentration of media, I believe its a major problem within the global empire these days especially in regards to Australia as well. Murdoch has had such a big influence within the world media and has a monopoly over many minds of the people.
ReplyDeleteIt's interesting how you change your opinion on the issue of global media ownership. I also didn't know what a oligopoly was so that was nice to read a new definition and you made it clear and defined it well for me. Agenda can be a dangerous thing.
Good read however your word limit seems to be a bit over but it didn't halter my understanding of your contention. Excellent explanation of the repositioning of your stance, writing that your original view on globalization was that it wasn't like westernization or 'McDonaldization'. But with your understanding of media moguls such as Murdoch, Bloomberg and Turner owning a majority of the media in the world, one can't help but question whether the information we absorb is contributing to western oblivion rather than a global village.
ReplyDeleteI think you have done a really good job Hannah, this is a great blog. You have clearly defined what an oligopoly is with a scholarly reference and you have further explained the concept in your own words and through the use of a great example. I enjoyed reading your blog and it was interesting to see how "oligopolised" mainstream media has become.
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