CNN Effect

The CNN Effect is the theory that 24-hour news networks affect the economy and politics. By drawing attention to a certain subject, a mass group of people become aware, which can create mass changes.

For instance, when a bank that rhymes with Schmelz Margo got a lot of press about using customers’ identities to create accounts without their knowledge or consent (uhmm...identity theft and fraud, anyone?), a lot of people ditched that bank. While the CNN Effect can be seen as a criticism of media’s effects on the public, it can also be seen as a good thing, since banks like Kells Dargos (and politicians and other businesses) should be held accountable.