Mass media can also said to be an industry. It refers to business firm which is also social firm. It produces symbolic contents, information, and message either visual or auditory/audio. Primarily the domain of mass communication is limited to audio, visual and audio-visual.
Mass communication involves not only the mass media, but also complex and formal organizations. Mass communication organizations are owned by different types of owners such as government, profit making companies, individuals, communities, NGOs, political parties and so on. Mass media industries need a huge amount of money to be established and to operate and also have profit making goal though they have other responsibilities too.
Characteristics of mass media
a) It produces and distributes symbolic contents, messages, information in audio, visual or audio-visual.
b) It is addressed towards the large audiences.
c) It has the presence of professional communicators and multiple gatekeepers such as reporters, photographers, cameramen, etc.
d) Its participation in communication is as both sender and receiver.
e) Its content is shaped according to choice of various targeted groups.
Economics of Mass Media
Mass media is established in order to earn profit. It is a business firm and is expensive to set up and operate. It needs so many investments for its equipment and facilities. The sources of money for the mass media are advertising revenue, direct audience revenue, audience donations, private support, government subsidies and auxiliary enterprises.
Advertisers buy spaces from print media while they buy time from broadcasters. The charge of time or space varies depending upon different factors. Advertisers spend more of their money advertising in newspaper than in any other medium. The mass media industry derives its income from selling a product directly to mass audiences, besides advertising revenue. Direct audience payments in case of broadcasting, especially of advertisement revenue, are another example regarding this.
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