ABSTRACT
This chapter explains the ways in which global media industries have undergone a process of structural transformation in order to produce and distribute media and cultural products and services globally. It discusses two major business models-media convergence and media de-convergence. It addresses why several major media firms, like Walt Disney, News Corporation, Time, and Sony, have structurally shifted their major areas, from tiny cottage houses, focusing on their core areas, to mega cornucopias through media convergence. It then explains why the global media industries have experienced a huge setback and pursued a new media business model, which is de-convergence. This chapter especially considers digital platforms as part of media and entertainment corporations and discusses their role as the main part of new media, which deeply influences people's daily activities.
