Compare media convergence and media concentration, explaining the difference. Also discuss changes that occurred in the media industries as a result of corporate megamergers.
What will be an ideal response?
• A few megacorporations now own and control most of the media industry, from film and music production to books and magazine publishing and social media. Analysts
describe these types of mergers in the media industries as convergence, meaning that a melding of the communications, computer, and electronics industries has occurred. Convergence in the media industry has led to media concentration. Media concentration refers to the tendency of the media industries to cluster together in groups with the goal of enhancing profitability. Since profits in this sector are high, investors view the media industries positively, and corporate megamergers have brought about significant changes in the media industries:
1. Concentration of ownership within one industry.
2. Cross-media and conglomerate ownerships.
3. Vertical integration
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