Convergence – the coming together of multimedia digital data technologies allowing words, audio, video, graphics and animation to be linked and routed together via broadband to create two-way communications. The idea being to produce, distribute and share.
Synergy – similar to convergence but used to describe how companies can pool their resources and exploit products in different markets.
Institution – refers to the companies and organisations that provide media content and involves an understanding of media and business.
Audience – this refers to the way in which people engage with the media. The new digital media: convergence, user-created content and social networking have transformed the audience from a traditional mass in to a fragmented definition.
Production – recording music
Distribution – promoting music and getting it into shops, on the radio and downloaded for payment.
Consumption – people buying C.D’s downloading music, paying for live concert tickets and purchasing related products.
Vertical integration – where a media company profits from all aspects of production, distribution and consumption
Cross media ownership – he record company for your case study can be a mainstream major company, a multinational or independent company.
There are the big three – Sony/BMG, Warner Bros. Universal. But you need to compare and contrast these with smaller independent labels and music organisations; the music industry is much more open in this respect, with many small labels that contribute to around 20% of the market.
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