Reaction Paper 5: The global media marketplace
The rise of a global marketplace of media production has been the result of many factors. It has been shaped by processes of liberalization and deregulation of the sector, internationally, and by the development of new technologies such as the satellite and the cable technologies. Throughout this chapter, the authors address the way media and technology have converged, the process of “vertical integration” that has happened in the media industry, and finally the way media power is concentrated in the hands of a few number of people, which is threatening to global democracy. What I will focus on, while reacting at the fourth chapter of the book, is the idea of convergence, which has happened with media and technologies. Globalisation has been correlated with convergence, as before it, most media corporations were focusing on specific areas, or fields of work. The textbook gives examples such as: Disney being only focused on cartoons and theme-parked industry; and Viacom being only c