Media Giants Dominating Industry: Impact on Small Firms - Essay Sample

Introduction

One is astonished by the extent to which the world’s top media companies are slowly dominating the media industry and buying out other media companies. Some are doing this to simply eliminate competition while others for strategic reasons. If left unchecked, it could lead to a few giant companies dominating the entire industry worldwide. This will drive out any small company out of business if it tries to compete with them. A company such as Walt Disney has just recently completed its purchase of 21st Century Fox, another media giant. Comcast, a major Disney competitor purchased the NBC network a few years ago. Those are just but a few examples of the extent to which these media companies are working to dominate the market

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Walt Disney has been on the headlines lately for its purchases 21st Century Fox. This can be considered as a globalization move as it tries to dominate both the local and international markets. BAM Tech and Maker Studios are among others bought by the company in its efforts to be the dominant media company. It is also planning on introducing a streaming service known as Disney+. This is a vertical integration as the company will eliminate the production chain. It will be able to sell its products without the need for a distribution company such as a cable company or even a streaming company. It is rumored that it is making these big moves in preparation to face Netflix, a popular streaming service that is growing rapidly and might prove to be a major problem for them very soon. Netflix is also carrying out vertical integration where instead of buying films from other companies then reselling, it is creating its films.

Knowing who owns the media is important to everyone out there. Where the media is owned by just a few giant companies, smaller companies will most likely be pushed out of the market. The smaller companies normally air the viewpoints of the minorities in the community. They have a personal touch with the community thus allowing them to know what is happening in the society and they can air it. Knowledge of who owns the media will also help criticize the media houses. We can be able to tell which stories are not being told and why. With the many changes taking place in the media industry, we are heading to a world where the media is owned by just a few major companies that have created a market where no one can compete with them.

References

Molla, R., & Kafka, P. (2020). Here’s who owns everything in the media today. Retrieved 3 June 2020, from https://www.vox.com/2018/1/23/16905844/media-landscape-verizon-amazon-comcast-disney-fox-relationships-chart

Sims, D. (2020). Hollywood Makes Way for the Disney-Fox Behemoth. Retrieved 3 June 2020, from https://www.theatlantic.com/entertainment/archive/2019/03/disney-fox-merger-and-future-hollywood/585481/

VanDerWerff, E. (2020). Here’s what Disney owns after the massive Disney/Fox merger. Retrieved 3 June 2020, from https://www.vox.com/culture/2019/3/20/18273477/disney-fox-merger-deal-details-marvel-x-men