In: Economics
The news industry thrives on dramatic, fast-paced stories. However, not all-important stories are dramatic, and not all dramatic stories are important. Which types of issues, events, institutions, and interests are likely to be downplayed or overplayed because of the media’s need for exciting news? Are there any public policies that may rectify the situation?
The consumer have the ultimate power to choose to tune into or buy media products-and that their is no need for government interference in the form of media regulation.Public interest,a generalized concern for the well-being of the citizenry as a whole rather than individual private interests.This standard reaches beyond merely market concerns to include the overall health of a democratic society.In the modern era,the idea that media should serve the public interest was first explicitly arriculated in the earliest day of radio broadcasting,when the government tied serving the public interest to the granting of licenses became broadcast media-publicaly broadcast media were using publicaly owned airwaves.
Ironically,deregulation in structure and finance was followed by increased regulation of media content,free market competition led more violent and sexually explicit programs as a way to attract audience and to maximize profit
in response,goverment introduced limits on programming and regulated the amount and frequency of advertising(restriction against broadcasting violent programs during children's hours)
Regulating content.
A different set of issues is raised with respect to the regulation of media content itself.
Advertising:-regulation against fraudulent or deceptive advertising
Morality:obscence materials:-regulating sexually explict material on moral grounds
Self regulation:-typically alert parents to content that may not be appropriate for children
Influence of media coverage on the knowledge,attitudes and behaviour of ordinary citizens.