Market forces that are alleged to maximize quality and minimize price in consumer products systematically produce mediocrity in commercial mass media output. Consumers of commercial broadcast media do not get “what they want” from the broadcasters. Although the dynamic is widely recognized, its sources and mechanics are seldom analyzed. Identifying the product of commercial mass media as audiences rather than programming is the key to delineating the issues through an analysis of the market for this product. This entails an analysis of the determinants of quality in media. There are signs that web-based media are increasingly falling under quality constraints similar to those experienced in traditional advertising-supported media.