SOCC44H3 Lecture Notes - Vertical Integration, Revenue Block, Cultural Capital
Document Summary
Economics of entertainment and diversity of content the initial investment in creating and marketing content is high. The cost of producing media carriers of content is low. So cost of production has been going down, and cost of marketing going up. The low cost of production of media carriers enables producers to pay highly for popular (marketable) talent why do audiences support celebrity system entertainment content is conceptualized as fashion (novelty, change for the sake of change). By persuading people to buy new things, they maximize their profit. 2. independance of tv distributors from critics (institutional regulators) film: ownership concentration has lead to homogeneity of content vertical integration: of ownership lessens dependance on cinema owners (institutional regulators) Economics of entertainment music production in north america 1945-1965. Includes classical and many types of popular music. 1920-30s: central producer system- one producer oversses all important decisions (including creacive) and supervises the entire producting of a studio.
