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Question: What is the attention economy? Drawing on relevant examples, critically discuss the impact of the attention economy on at least two media industries.

09 Oct 2022,5:26 AM

 

1. What is the attention economy? Drawing on relevant examples, critically discuss the impact of the attention economy on at least two media industries.
2. Drawing on examples from two different media sectors, critically evaluate how horizontal integration can be beneficial in a commercial strategy.
3. What is a diasporic community? Critically consider how a diasporic community can affect the commissioning, production and distribution of media texts.
4. What is an echo chamber? Critically discuss the impact of echo chambers on the relationship between social media, news media businesses and the public.
5. How can technology shape innovation in the media? You should critically discuss your answer in the context of two media sectors.

Expert answer

 

The attention economy is the economic model in which attention is treated as a commodity. In recent years, there has been a shift from traditional advertising to digital marketing, which is largely driven by the attention economy. Advertisers are increasingly willing to pay for placement on websites and social media platforms, because they know that people are more likely to notice and click on those ads.

 

The impact of the attention economy on media industries has been largely negative. First, it has contributed to the decline of print media, as people are more likely to spend their time reading articles online than in newspapers or magazines. Second, it has led to an increase in clickbait and other forms of low-quality content, because publishers are more likely to publish articles that will capture people's attention. This has resulted in a decline in trust in the media, as people are less likely to believe stories that they know are being published only for the purpose of attracting clicks. Finally, the attention economy has contributed to the rise of fake news, as people are more likely to share articles that confirm their own biases.

 

The attention economy has also had a negative impact on society more broadly. First, it has contributed to the decline of face-to-face interaction, as people are more likely to spend their time interacting with screens than with other people. Second, it has led to an increase in social media addiction, as people are more likely to compulsively check their news feeds and notifications. This addiction can have harmful consequences, such as anxiety, depression, and sleep deprivation. Finally, the attention economy has contributed to the rise of echo chambers, as people are more likely to be exposed only to information that agrees with

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