1) Conglomerate in the media industry refers to lager and well known companies who own lots of smaller companies e.g. Disney owns Pixar, national geographic, star wars and many more.
2) Subsidiary in the media industry are the smaller companies owned by conglomerates.
3) The benefits of media companies in vertical integration are that everything they own links directly to them which increases profit directly and massively. Every stage of making a film is opportunity to make money.
4) The benefits of media companies in horizontal integration is that it allows those in threat of other companies to cancel out competitors. For example, Facebook bought Instagram in case their numbers overtook theirs and now Facebook receives profit from Instagram and themselves.
5) 3 companies that use synergy to maximise profits: Facebook, Instagram, and Ben & Jerry's
6) Technological convergence is the idea that in this day and age, smartphones and other devices have access to all types of media on one device. Smartphones has changed the relationship between audiences and industries completely.
7) Facebook bought Instagram for $1 bn to secure its position in the media industry. They saw Instagram as a threat to their growing company, so they decided to buy Instagram as an investment and cancel out their competition. The media industry is a growing market and many companies get wiped out from competitors; Facebook didn't want to leave the industry.
8) The previous owner of Fox News was Rupert Murdoch.
9) 10 companies that are part of the Disney media empire: Marvel, ABC television network, Pixar, Lucasfilm, Disney+, Hulu, Disney channel, ESPN, 20th century studios, and National Geographic.
10) Disney bought Fox to strengthen itself and compete with other conglomerates such as Netflix and Amazon.
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