Abstract |
It is important to know in what kind of an economic environment the media—which produces news, ideas and entertainment and has the power to influence society by its very nature—operates and by whom it is controlled, since the formulation and implementation of the policies that make the media all have cultural, social, political and economic consequences. As it is in Turkey, media companies in many countries are for-profit entities that are subject to market conditions just like any other firm. In addition, the product structures, production organizations, revenue and expenditure structures of media companies and the conditions of the markets in which they operate have some very unique characteristics. While the media industry is generally characterized by factors such as the great quantity of capital required to invest in this area, the dependence on advertising revenues, and government policies, when looked at from a broader perspective, it becomes clear that the economic policies prevailing in the world also have an effect on the sector. |