Media Industry Key Terminology

Regulation

Rules or sets of standards that are expected to be adhered to by media producers

Deregulation

The relaxing of controls or limitations imposed upon the media by the state

Free Market

A, unrestricted capitalist system where the prices for goods and services are determined by the open market (free from regulations such as tariffs or taxes) and where state/legal regulation is kept to a minimum

Media Concentration

Where a limited number of organisations or individuals control ownership of much of the media

Public Service Broadcasting

TV or radio programmes that are broadcast to inform, entertain or educate the public without trying to make a profit, financed in some way by the state through taxes for example.

Globalisation

The process by which businesses or other organisations develop international influence or start operating on an international scale

Conglomerates

A large corporation that owns a large number of media companies, giving the conglomerate large amounts of power in their market

Neo-liberalism

A political ideology favouring unrestricted free market capitalism which favours deregulation, globalisation, free trade and privatisation

Surveillance

The observation of individuals or groups to gather information for the purpose of enhancing security and management using technology such as cameras or data analytics. This raises questions about privacy rights and ethical implications

Public sphere

A domain where individuals come together to form a public where public opinion can be formed. Social media platforms has allowed for immediate and widespread sharing of information

Governance

The organisation of media systems where institutional means lay policies and regulations on the media

Transnational culture

The analysis of the cultural effects of globalisation. Some regulations of national media products may be lifted in a transnational approach in favour of globalisation.

Cultural industries

Sectors of the economy and companies who produce, distribute and promote cultural goods and services such as film, music, literature and art.

Commodification

The process by which something becomes an object that can be marketed and sold

Convergence

The combination of technologies and blurring of lines between the different forms of media and communication - the cultural shift in the production and consumption of the media

Vertical Integration

When one company acquires ownership of different paths of the production process. E.G Netflix acquiring production through Netflix originals as well as distribution

Horizontal Integration

Companies who acquire other companies operating in the same sector of the production process. E.G Walt Disney bought Pixar Animation studios without merging the studios that produced the animation, thus increasing spikes in profits and market shares

Cultural imperialism

Where dominant cultures use media and technology to export their ideologies onto other societies