Oligopoly

Definition

An oligopoly is a market structure characterized by a small number of firms that dominate the market, influencing prices and availability of goods. In the context of media, it refers to the control of media outlets and platforms by a few large corporations.

Related terms

Media Conglomerate: A company that owns numerous companies involved in various aspects of media and entertainment, contributing to oligopolistic conditions.

Market Dominance: The situation in which one or more firms have significant influence over a particular market, often leading to limited competition.

Barrier to Entry: Economic or legal obstacles that make it difficult for new competitors to enter a market, often reinforcing oligopolistic structures