Final answer:
Nearly 75 percent of all media buying is conducted by multinational conglomerates and a few large corporations. These entities have created a media oligopoly, with four conglomerates, including the Disney Corporation, now controlling 90 percent of U.S. media outlets.
Step-by-step explanation:
Although there are a large number of media buying agencies throughout the world, nearly 75 percent of all media buying is conducted by multinational conglomerates and a few massive corporations. These media empires have developed into enormous entities that exert significant control over global mass-media content and distribution channels, leading to a form of media consolidation.
As the media landscape has evolved, the number of media corporations has dramatically decreased, creating an oligopoly in the market. In 1983, there were about 50 corporations controlling the bulk of U.S. media outlets. However, by 2021, just four conglomerates—Comcast, the Disney Corporation, Time Warner, and CBS/Viacom—had consolidated the same amount of market share, controlling 90 percent of the media outlets.