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Ownership and the Economics of Media
- Explain the five resources required for mediated communication. How are these resources employed differently in traditional mass media as compared to new digital media?
- How do media products serve both the audience market and the advertising market?
- What is the rationale for state intervention in the cultural economy?
- Explain the main problems with the concept of economism as it relates to the media in general and the media in Canada.
- What are market externalities, and how are they pertinent to the discussion of media economics?
- What is the myth of meritocracy? Explain the main components of meritocracy, and then describe the reasons why this is a myth.
- How can the concepts of use value and exchange value be applied to the mass media industries in Canada?
- What are the key benefits and drawbacks of public and private forms of media ownership?
- Name three forms that private ownership of the media can assume.
- How does advertising on CBC television affect the public broadcaster’s central mission?
- What do you believe the future will hold for both public and private media ownership in Canada?
- Explain the ways in which advertising supports capitalism. What does it mean when Smythe says that the media’s main commodity is the audience?
- What is media convergence, and what does it imply for media content?
- Why is it often more beneficial for Canadian television networks to buy US programs rather than produce their own?
- How have labour issues impacted the Canadian mass media industries in recent years?
- What is media democratization, and what implications does it have for media audiences?
- Are you aware of any alternative media organizations? Do you currently consume media content from any of these organizations? Would you seek out more content from these organizations, or do you prefer more “mainstream” media content?