These two texts that look at political economy in journalism, PR and the media. The first text ‘New Media, Old News, Journalism & Democracy in the Digital Age’ (Freedman, 2010) by Des Freedman. Freedman analyses the political economy and the crisis journalism is facing. The second acadmeic text ‘Funding Journalism In The Digital Age: Business models, Strategies, Issues& Trends’ (Kaye et al, 2010) written by Jeff Kaye and Stephen Quinn. The author depicts the business models that have been and are shaping journalism. Both of the academic writters criticise and analyse the similarities and differences of the medi industry.
Des Freedman researches the political economy by looking at the changes of the business models of print, online news organisations and how its becoming their downfalls. Feedman said “Some commentators are prediciting the near collapse of the existing news environment”(Freedman, 2010, P. 35). Whereas Jeff Kaye and Stephen Quinn reasons with old models which might represent that there’s not many adjustments to them at the present time and “newspaper online sites have generally employed a commercial strategy that basically followed the print business model”(Kaye et al, 2010, P.9). Although Freedman talks about journalism being in crisis he does suggest that “it is likely that if organisations continue to invest in journalism then it will shape the future of news.”(Freedman, 2010, P.37) A case study: Advertising expenditure by Media UK (Freedman, 2010, P.38) in ‘New Media, Old News, Journalism& Democracy in the Digital Age’ which showed the sale of advertisements. In the time scale of 1998 to 2007 National newspapers declined from 13.9 to 10.7 and the increase in advertisements online risen from 0.1 to 15.6. Kaye and Quinn also go on to say that “the bigger the audience, the more the site can charge for advertising.”(Kaye et al, 2010, P.9)
From reading these to academic texts it is easy to identify that political economy helps look at business models for the media industry, especially in journalism for print and online. I agree with Des Freedman that “the internet is mostly certainly disrupting existing news”(Freedman, 2010, P.37) which is causing stress to journalists and it is becoming harder to find strong organisation within the business. However it proves that journalism’s business models are not that different from when organisations were print based. If i were to look further into the theme that surrounds these two texts I would look into organisational analysis of the Independent.
Freedman, D. (2010) ‘New Media, Old News, Journalism & Democracy in the Digital Age’ New Media, Old News. London: Sage Publications
Kaye, J. (2010) ‘Funding Journalism In The Digital Age: Business models, Strategies, Issues& Trends’ NewYork