Institutions

I produced a presentation on 'Prezi', containing information on three of the main magazine institutions to assist me in gaining knowledge in this area.

http://prezi.com/tfajejaw2wp6/magazine-institutions/

‘The magazine industry represents a hybrid structure. The top tier has an oligopolistic structure, with four firms controlling the majority of revenues in the industry. The remaining lower tier, however, resembles a monopolistic competitive market structure. Remember that in this type of structure, there are many sellers offering products that are similar but are not perfect substitutes for one another. Numerous publishing companies vie for a share at this end of the market. The large number of individual publishers suggests that there will be several titles geared toward specific interests, yet each is somewhat unique in its presentation. Overall, the prices paid for magazines indicate more of a monopolistic competitive structure. If the entire magazine industry operated as an oligopoly prices would be similar across the industry.’ Alan B. Albarran 

After researching these institutions, I have concluded that my indie magazine would be most suited to be published by ICP media, as magazines such as NME come from it, which is indie. I feel as though the other two institutions would not be suitable for my product to be published by, as they are unlikely to accept my magazine as one of which would be suited to their particular style. In consideration of this quotation from a theorists, I agree that there are magazines targeting particular interests, and niche audiences. Initially, I would have said that my audience would be a niche audience, although, I would not call this particular institution one of which targets a niche audience, rather mass. I would rather my product was aimed towards a niche audience, and I feel as though the company would, perhaps, like to have more niche magazines out in the world.