Media Systems Models and the Music IndustryTo understand the business aspect of mass media , it is postulate to explore both the underlying economic dynamics of the media tenacity and the extra-economic role that is played by the mass media in a democratic c all in aller (Croteau Hoynes , n .d , 14 . Numerous frameworks or homunculuss have been created to outline the basic conceptional structure of the said(prenominal) subject , including the food food food market model (n .d ) and the public theater model (n .dThe Market ModelThe market model argued that society s demand butt end best be met through a relatively unregulated process of transposition based on the dynamics of contribute and petition (Croteau Hoynes , n .d , 15 . scarcely put , as long as mass media faces give way offptition from similar industries , it lead reach out to produce good-quality return . Hence , its ownership should be leave to the private sector , where consumers are the ones who dictate market forces kinda of the governmentAdvantagesMarkets encourage acquisition - Markets tend to become effectual when freed from the tactless bureaucracies associated with centralized planning (Croteau Hoynes , n .d , 15 . In to gain their profits companies mustiness find ways to produce goods and operate at the least(prenominal) cost possible . This results in efficiency on the develop of the producers and low prices for the consumers (Croteau Hoynes , n .
d , 15Markets promote responsiven! ess - As enterprises operate on the law of supply and demand , producers turn up on what consumers wantMarkets promote flexibility - Aside from existence responsive to consumer demands , producers are also open to clean market trends and conditionsMarkets promote innovation - The desire for profit drives companies to come up with new products and function that get out ensure them a big market shareMarkets freighter deliver media exchangeable any early(a) product - Adovcates of the market model assert that without state obtain , mass media will also respond to consumer demand , come up with conk out innovations and will remain flexible and efficient - just like all other goods and services (Croteau Hoynes , n .d , 15DisadvantagesMarkets are tyrannic - Markets operate on a one-dollar-one-vote mechanics (Croteau Hoynes , n .d , 21 . The more silver a consumer has the more influence he or she has in the marketplaceMarkets produce unlikeness - Since markets use money as a medium of exchange , it is inevitable that the flush(p) will have greater approach shot to goods and services being soldMarkets are amoral - Markets sell whatever can be sold , whether or not what they selling will be harmful to societyMarkets do not necessarily equalize companionable ends - There are some services that society has to brook to its members , regardless of market forces (education , health , etc . If these services are left field to the priavte sector , they will only be operable to the moneyedThe earthly concern Sphere ModelThe public sphere model contends that markets cannot accost all of society s needs (Croteau Hoynes , n .d , 21 . This is because at that place are necessities that must be made accessible to everyone in society notwithstanding their purchasing power . The...If you want to obligate a full essay, order it on our website: OrderCustomPaper.com
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