Just like the general definition of Economic convergence which suggests that countries with lower GDPs are going to grow faster than countries with higher GDP, the Economic media convergence allows a single company to target larger interest groups through various kinds of media. And third, government deregulation.
In nearly all the settings we consider, the consumer demand for media content is largely due to demand for entertainment, with the economic impacts emerging as a by-product. Organic convergence is multimedia multitasking, or the “natural” outcome of a diverse media world. These factors have allowed media conglomerates to own different kinds of media (e.g., TV and radio stations and newspapers) in the sam… Economic Convergence.
Organic convergence is multimedia multitasking, or the natural outcome of a diverse media world.
Economic convergence in recent years has been most visible in company mergers. V Viacom, Time Warner, NewsCorp, Clear Channel and Disney all include separate divisions for the development of TV shows, films, comics, and video games. Cultural convergence, when stories flow across several kinds of media platforms, and when readers or viewers can comment on, alter, or otherwise talk back to culture. Children watch television because it’s fun, and are (very) unlikely to think of the possible impacts on their education. Economic convergence, when a single company has interests across many kinds of media. Second, corporate concentration. The economic strategy of media convergence (also known as media consolidation, media concentration or economic convergence) is a product of three elements. Economic Convergence: Media Consolidation 1 Many scholars and critics have noted that media ownership is controlled by an increasingly smaller number of mega-corporations. Media convergence can mean one of two things: Either the merging of previously distinct media technologies resulting from digitization and computer networking–some of which are covered elsewhere in this article–or an economic strategy in which the media properties owned by communications companies employ digitization and computer networking to work together. Benefits of Media Convergence: The content creators can use the platform to generate customized content that is targeted at a specific group. Fewer large companies own more media properties. This type of convergence is apparent when small media companies are gobbled up by media conglomerates, creating … (See also Royal Commission on Corporate Concentration). Media theorist Henry Jenkins identifies the five kinds of convergence as the following: Economic convergence is when a single company has interests across many kinds of media. First, digitization.
The first one is the key role of the demand for entertainment. Some of its key features are: This has also brought about a change in the dynamics of economy as distribution and cost structure is not the same in traditional media.
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