Why Does Economics Drive Most Media?

Economics greatly influence the behavior of media companies. In today's day and age money influences almost every move made by a company. Money is a necessity in this world, and media moguls like Rupert Murdoch form the content of their output around the opinions which will bring the most profit. According to The Media of Mass Communication, Murdoch brings home a whopping $30 million each year. By focusing on the majority, his company is able to produce things which are appealing to most people. This is the procedure of most large media companies because without the approval of the general public, there is a smaller chance that people will invest time and money into the products of the company. By continuing to base productions on what will sell, major companies assure that a profit will be made and production can continue.
Media companies must also pay attention to the economy in the sense of what consumers can afford. As the general public can spend more or less, companies must adjust their production so as to not take a major loss. It is in this manner that economics has a hold on the media, and what messages companies are willing to send out. In such a tough economic situation in the past couple of years people like Murdoch have changed their opinions more than once in order to retain customers and maintain a strong profit. With everyone looking to make a profit it is easy to see that economics has a strong hold on the voices of the media.