In recent years, media has garnered a lot of power today in ways such as power and influence. This influence can be done in music, film, and other products. An example of a big media ownership company would be Disney. The Walt Disney Company has become the third largest global media conglomerate and has gained revenue of $25 billion, with 27% derived from parks and resorts, 24% from studio entertainment, and 17% from media networks in the 2000’s according to PBS.Org. This type of conglomerate has many benefits but also comes with its issues as well.
The issues with conglomerates like Disney are the amount of power they control. For conglomerates in general they have control of many smaller organizations, some of these include ESPN, Fox, Marvel, and Lucas films, all owned by The Walt Disney Company. This means that these extremely popular companies which although seem independent are all controlled by Disney. Anything these smaller companies do are supervised by them. This means that Disney has a lot of power and control over what content Is being made which in some cases can sway public opinion on certain topics. Although having a lot of issues companies do many things that help each other when under a conglomerate. This is called synergy and there are many forms of it within this media. There are 4 types of synergy cross-promotion, cross production, and cross advertising. An example of cross-promotion is when a company of Disney such as ESPN would broadcast promotions from one of Disney's other companies such as marvel. Cross-production would be the taking of characters owned by a company such as marvel and then using it in a new fashion. Cross-advertising is when an advertiser wants to display their product through conglomerate which means all its sub-companies. This is particularly important for these companies because it allows themselves to benefit themselves and gives themselves a lot more exposure. Due to the synergy between these companies, they cause many impacts in society. One example of this I already stated and was about how they can sway public opinion. Other than in this specific way they can also cause issues because they have no accountability and if the main conglomerate fails, the rest of the sub companies fail. This can hurt the economy and many industries in the respective companies' businesses. If this were to happen the ripple effect in society will be great and media itself would be greatly affected. All in all, these conglomerates have many issues and benefits within society. This includes the helping from a variety of companies too then having complete control over media with no control. These impacts are very vast and from a media standpoint is one of the greatest impacts on the industry that there is Sources. https://www.pbs.org/wgbh/pages/frontline/shows/cool/giants/disney.html#:~:text=The%20Walt%20Disney%20Company%20is,and%2017%25%20from%20media%20networks. https://www.vox.com/2018/1/23/16905844/media-landscape-verizon-amazon-comcast-disney-fox-relationships-chart https://www.youtube.com/watch?v=rOhh0bic0h4
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