Wednesday, September 29, 2010

Why does economics drive most media companies?

Since the early 1970's, the media has been a magnet for capitalism and its branches. Investors and large companies tend to turn to the media when expanding and diversifying. Because the media is where the money is, non-related media corporations and organizations, such as Comcast and Facebook, tend to adapt to the ever-changing demographics of society. Though the money in media may be substantial, societies wants and needs are constantly changing. Economically, competitors must satisfy the target market so that the cash flow continues to grow. Another major industry involving the media that brings in revenue is advertising. Globally, companies have to constantly advertise to the public to keep interests in their products, services and upcoming ideas. Although our economy has been in a recession, the media covers the economic crisis on a daily basis and proceeds to keep the general public aware. The supply and demand determines the economy as the media does as well. In conclusion, the economy and media work together to satisfy the wants and needs of society.

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