1) Concentration of Ownership

2) Globalization

3) Audience Fragmentation

2) Globalization

Channels are no longer bounded by geography
Satellite and Internet distribution span the globe. Social media can provide instant global communication.

Top American TV shows are based on English and European programs. "Survivor", "The Office", "American Idol", "All in the Family", "Big Brother", "The Amazing Race" all started overseas.

Cost of mass media production and distribution can be very large (Except for the Internet)

Positives of Globalization

1) Formation of a "global village"

People now understand that local and national issues can have a global impact

2) Shared concerns and interests with widely diverse people

3) Economics contribute to success of mass media

Negatives of Globalization

These are the same negatives as with concentration of ownership.

1) Limits diversity of opinion

2) Limits sources of information

3) Reduces number of gatekeepers

4) Eliminates any realistic feedback other than economic

5) Possible economic collapse due to unrealistic business expectations

As the "Media Megamergers" article points out, enormous marketing and business culture challenges exist when forming multi-national ventures

6) Loss of cultural identity / risk of cultural imperialism

As the cartoon from Korea on the right shows, one of the greatest fears is the assimilation of local culture by American products. From Euro and Japan Disney to McDonalds and Coke, American products with their accompanying American culture are moving steadily across the globe.

"But American music and fashion need no such high-level emissaries to win the hearts and minds of China's people -- particularly the children of its growing economic elite. American chain restaurants and coffee shops have opened even in remote provincial cities. Hollywood movies are so popular that the government limits their number to protect domestic filmmakers. American brand-name outdoor wear and university sweat shirts are almost as common in Shanghai as New York."

Click here to read "Young Chinese Drawn to Hip-Hop."

This opinion piece, from the BBC, suggests the formation of a global culture is a good thing.

"Against this backdrop the seemingly unstoppable and ever accelerating cultural homogenization around the world brought about by travel, the internet and social networking, although often decried, is probably a good thing even if it means the loss of cultural diversity ..."

Click here to read "Does Globalization Mean We Will Become One Culture?"