GLOBALIZATION AND MEDIA

Globalization And Its Effect On The International Media System

Globalization And Its Effect On The International Media System

Introduction

In recent years, there has been a growing body of research on the topic of globalization. Traditional definitions of globalization focus on economics and the effects of multinational corporations. In the book Alternatives to Economic Globalization, authors Cavanaugh and Mader (2002) referred to a number of factors that are identified with the term globalization. These factors are: hyper-growth and exploitation of the environment, privatization of public services, global cultural homogenization, promotion of consumerism, integration of national economies, corporate deregulation, and displacement of traditional nation-sates by global corporate bureaucracies (p. 19).

This paper examines the topic of globalization from the perspective of the media. The primary vehicle of the phenomenon of global media is the multinational corporation. Media globalization has aided in both the production and distribution of information. Dominick (2002) has noted that the production rate of information doubles every eight years. In addition, "information is being produced at a rate that is four times faster than the consumption of information" (p. 513). The phenomenon of media globalization along with the increasing abundance of media-text production has produced various effects which are being researched by communication scholars. Media globalization is a broad topic, which includes television, radio, film, music, the Internet, and other forms of digital media. This paper will first focus upon the cultural effects of media globalization, and then discuss various communication theories that address this issue. After examining a number of media theories which address globalization, there will be a discussion on the theory which seems to best address the media globalization phenomenon.

Christopher Dixon, a media analyst for Paine-Webber has stated that a creation of a "global oligopoly" is taking place among a handful of multinational organizations which control worldwide media properties. (McChesney, 2005, p. 81). Compaign (2005) identified a short list of nine global media corporations, which represent a variety of nations, as the major players (p. 98). These corporations and their significance will be discussed in more detail in this paper. Media globalization shall be defined as the phenomenon of expanding multinational corporate media investment, resulting in the emergence of a global oligarchy of first tier corporations, which own and operate a variety of mass media content and distribution technologies including: television, radio, film, music, broadcasting, satellite, telecommunication, cable, newspapers, magazines, publishing companies, Internet content providers, and other forms of converged digital media.

Analysis

Globalization is being driven by increasingly strong international market factors fueled by organizations such as the World Trade Organization (WTO) and the International Monetary Fund (IMF). The World Trade Organization was established in 1995 and as of October 2004 had 148 member nations. The WTO is located in Geneva, Switzerland. According to the WTO, they are "the only global international organization dealing with the rules of trade between nations" ("What is the wto?" 2004). The International Monetary Fund was founded in 1945 and is located in Washington ...