Political Economy Theory Essay

The policy-making sparing in mass media theory argues that the kind organisation of the industry influences content. _(Andrejevic M, 2007)._ This theory go a representation be demonstrated by analysing an article authorize _Skys the coiffe for MySpace_, promulgated on _News.com.au_ on August tenth 2007. The presumption of the theory is that media content is influenced by a combination of the media owners (individuals or corporations), advertisers, competitors/ early(a) media, government regulations and viewers or lectors. In the case of media ownership, Private individuals decide what instruction should be provided to the public based on what earns them the most money. _(Andrejevic M, 2007)_The _News.com.au_ article on _MySpace_ appears in the National News section and describes the fast grasp and incredible influence the social networking site, established in 2003, has on the earnings and throughout the business world. The article is saturated with references to the inno vations and stunning success of _MySpace_. For ex adenylic acidle the start sentence reads fond networking website _MySpace_ has more than cxv billion members around the world and already plays a key role in launching music c atomic number 18ers, political campaigns and the centering people communicate in general. _(Gadd M, 2007)_ At this point a discerning reader should rec entirely that _News Corp_ bought _MySpace_ from its co founders Tom Anderson and Chris DeWolfe in July 2005. _(Malick O, 2006)_The propaganda model developed by Edwards S Herman and Noam Chomsky asserts that information presented to the general public via mainstream media outlets will be biased in analogy to the interests of the multinational organisations or media conglomerates that own them. _(Herman & Chomsky, 1988)_ By publishing an article promoting the ascendant discourse that _MySpace_ is a popular, thriving issue with unlimited potential, _News Limited_ ar encouraging sensation of the website , which in turn provides it with traffic and publicity. Since _News Corp_ owns _MySpace_ and is a holding company for _News Limited_, this is a principal example of the propaganda model and reinforces the political frugality theory that media content is affected by media owners.The authoritative language used in the article demonstrates the office staff of linguistic controls in promoting a discourse. The writers of the article use phrases much(prenominal) as its just the tippytoe of the ice berg _(Gadd M, 2007)_ to imply at that place is a wealth of possibilities for _MySpace_ to accomplish. The website is described as a platform for individuals to express themselves and socialise. _(Gadd M, 2007)_ This iterate is relevant to todays monastic order as ideas of non-conformity, individuality and creativity are attractive to todays youth.Of completely the quotes available from the interviews with the co founders, there is a deliberate choice on behalf of _News.com.au_ to sustain words such as emerging, prominent, innovate, and evolve that inculpate ideas of positive change and progression. This gives the impression that _MySpace_ is at the forefront of the online social networking phenomenon with millions of individuals flocking to be involved. These footing are deliberately chosen by _News Limited_ to appeal to advertisers who wish for their products to be seen and purchased by the trend-setters in society, and this will consequently proceeds its provoke, _News Corp_.The article also suggests the potential power MySpace has for advertisers in the time to come. Mr DeWolfe said mobile advertizement would be a lucrative investment firm source and icon would take a more prominent place in the way people communicated and shared their art. _(Gadd M, 2007)_ It should be noted that _News Corp.,_ along with other media conglomerates, is lastly a commercial organisation. By victimization _News Limited_s article to draw circumspection to the incredi ble infiltration ratio of _MySpace_ (four million unique accounts in Australia, and 50% of all internet users in America) _News Corp_ is securing advertisers interest in _MySpace_. The statement by Walt Disney Corporation CEO, Michael Eisner, is curiously powerful in demonstrating the reality of what drives media conglomerates We constitute no obligation to make history. We get to no obligation to make art. We sire no obligation to make a statement. To make money is our only objective. _(Andrejevic M, 2007)_Newspapers, TV networks and magazines rely on advertisers to finance their business, so to encourage advertisers to buy space in their publication they commodify and promote their audiences. According to Dallas Smythe audiences are bought by advertisers on the basis on income, age, sex, ethnic and class specifications. _(Stevenson N, 200210-11)_ Rupert Murdoch outlined his plans for the future of _MySpace_ in a 2006 interview at the Citigroup Entertainment, Media and Telecomm unications Conference.He revealed that an instant messenger lymph node with voice capabilities, increased worldwide penetration, and justify video downloads were in the works. (The free video downloads take in been successfully incorporated into the website since the interview.) interest this, Mr Murdoch said Weve got the biggest mass of unsold inventory. We have the third most page views of the profits in America, and explained that _News Corp_ had met with advertising networks to judge whether they derriereful sell it better than we rat. _(Burns E, 2006)_In conclusion, the political economy theory, which highlights the a link between ownership and content of media production _(Stevenson N, 2002 41)_, can be applied to the _News.com.au_ article or so _MySpace_ to reveal how much ownership, among other things, can affect the information the public receives from mass media outlets. As demonstrated in the way that _News Limited_ portrayed _MySpace_ in a positive light for th e economic benefit of its parent firm _News Corp,_ it is important for audiences to be cognisant of the political economy theory, and to detect not only bias but the manageable reasons behind such bias in media texts they consume.BIBLIOGRAPHYAndrejevic M (2007) _The Mass Media A semipolitical Economic Approach._ Lecture slides for JOUR2211 Week 2. unattached from https//my.uq.edu.au/blackboard_frame.html Accessed on 12/08/07Burns E (2006) _Murdoch discusses future of MySpace.com._ Available from Accessed on 10/08/07Gadd M (2007) _Skys the limit for MySpace._ Available from Accessed on 10/08/07Herman E S and Chomsky, Noam. (1988) _Manufacturing Consent the Political miserliness of the Mass Media_. New York Pantheon BooksMalick O (2006) _Why Murdoch actually Bought MySpace._ Available Accessed on 11/02/03McQuail D (2002) _McQuails Reader in Mass conference Theory._ Sage publications.Stevenson N (2002) Understanding Media Cultures Social Theory and Mass Communication. Sage publi cations. pp10-11