Compose a 500 words essay on Why is media a business in the 21st century. Needs to be plagiarism free!
This means that media in general possesses a flexible point of view on any event which is exactly the characteristic that some people or companies would like to buy.
Keeping in mind the economic development of the Western world, the transition of media into a business seems almost inevitable. The scholars point out that “in the countries where the levers of power are in the hands of a state bureaucracy, the monopolistic control over the media, often supplemented by official sponsorship, makes it clear that the media serve the ends of a dominant elite” (Herman & Chomsky, 2002, 1). The above mentioned “dominant elite” consists of wealthy organization who will see media as an investment opportunity.
Indeed, this century features quiet a peculiar social phenomenon when something that was created as an objective observer was turned into a promoter. There is no doubt that in 21 century “each network was a part of publicly traded conglomerate. Network news operations were expected by corporate managers and Wall Street analysts to generate profits” (Hamilton, 2004, 160). That is why the business like nature of media is no mystery to the society.
All this contributed to reevaluation of the very nature of the media. Thus, objectivity which used to be a characteristic feature of it, nowadays “may be seen as a strategic ritual protecting newspapermen from the risks of their trade” (Tuchman, 1972, 660). In other words, journalist fully acknowledge their connection with the business world.
Speaking of the demand and supply of the news, one should note an important point: “news organizations can process seemingly unexpected events, including emergencies and disasters, because they typify events-as-news ” (Tuchman, 1973, 660). As a result, the networks are never short of raw material and are able to articulate any news when necessary.
Finally, lack of objectivity and strong connection with business can be
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