Why is media a business in the 21st century - Essay Example

Why is media a business in the 21st century If one takes a look at the contemporary society, one can not help noticing that media plays a considerably important part in it. Indeed, the function of it has evolved from simple deliverance of news into becoming a significant agent in the social environment. This paper will prove that media turned into a full scale business in the 21st century on several examples.To begin with, one should reflect on the instable nature of the media. It is suggested that “each time a decision is made about what to cover and how to cover it, an interpretation of “reality” is advanced” (Scharrer, 2002, 395).

This means that media in general possesses a flexible point of view on any event which is exactly the characteristic that some people or companies would like to buy.Keeping in mind the economic development of the Western world, the transition of media into a business seems almost inevitable. The scholars point out that “in the countries where the levers of power are in the hands of a state bureaucracy, the monopolistic control over the media, often supplemented by official sponsorship, makes it clear that the media serve the ends of a dominant elite” (Herman & Chomsky, 2002, 1).

The above mentioned “dominant elite” consists of wealthy organization who will see media as an investment opportunity.Indeed, this century features quiet a peculiar social phenomenon when something that was created as an objective observer was turned into a promoter. There is no doubt that in 21 century “each network was a part of publicly traded conglomerate. Network news operations were expected by corporate managers and Wall Street analysts to generate profits” (Hamilton, 2004, 160).

That is why the business like nature of media is no mystery to the society.All this contributed to reevaluation of the very nature of the media. Thus, objectivity which used to be a characteristic feature of it, nowadays “may be seen as a strategic ritual protecting newspapermen from the risks of their trade” (Tuchman, 1972, 660). In other words, journalist fully acknowledge their connection with the business world.Speaking of the demand and supply of the news, one should note an important point: “news organizations can process seemingly unexpected events, including emergencies and disasters, because they typify events-as-news ” (Tuchman, 1973, 660).

As a result, the networks are never short of raw material and are able to articulate any news when necessary.Finally, lack of objectivity and strong connection with business can be seen on numerous examples when almost similar events were presented as absolute opposites. For example, “by de-emphasizing the agency and the victims and by the choice of graphics and adjectives, the news stories about the U.S. downing of an Iranian plane called it a technical problem while the Soviet downing of a Korean jet was portrayed as a moral outrage” (Entman, 1991, 6).

This shows that media is often influenced by the interests of business structures that are interested in stability of the government and often distort the perception of reality. ReferencesEntman, R. (1991). Framing U.S. Coverage of International News: Contrasts in Narratives of the KAL and Iran Air Incidents. Journal of Communication, 41(4), 6-27.Hamilton, J. (2004). All the news thats fit to sell: How the market transforms information into news. Princeton, NJ: Princeton University Press.Herman, E.

, & Chomsky, N. (2002). Manufacturing consent: The political economy of the mass media. New York, NY: Pantheon Books.Scharrer, E. (2002). An "Improbable Leap": A content analysis of newspaper coverage of Hillary Clintons transition from first lady to Senate candidate. Journalism Studies, 3(3), 393-406.Tuchman, G. (1972). Objectivity As Strategic Ritual: An Examination Of Newsmens Notions Of Objectivity. American Journal of Sociology, 660-679.Tuchman, G. (1973). Making News By Doing Work: Routinizing The Unexpected.

American Journal of Sociology, 79(1), 110-131.