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Understanding Media Economics
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Understanding Media Economics

Second Edition


April 2013 | 232 pages | SAGE Publications Ltd
"Expertly synthesizes economic theory and contemporary cases to both explain the structure of the contemporary media industry and shed insight on the significant challenges and controversies confronting the sector."
- Lucy Küng, Oxford University and Jonkoping University

"A wide-ranging, accessible introduction to media economics and their application to a broad range of media topics from advertising and business models to copyright, audience demand and public policy."
- Chris Bilton, University of Warwick

"An excellent textbook on media economics, which takes into account the full complexity of the subject matter in the context of structural, technological and creative transformations that characterise digital media."
- Milan Todorovic, London Metropolitan University


With the rapidly evolving digital media landscape, this second and completely revised edition of Understanding Media Economics moves beyond a sector-specific approach to media analysis, and instead focuses on the issues and imperatives that are now central to how economic forces impact on the media industries.

Exploring themes such as innovation, digital multi-platform developments, the emerging importance of networks, branding and segmentation of market demand, strategies of risk-spreading, maximizing value within content, intermediation and rights management, corporate expansion and advertising, this book addresses and explains the key pressing questions and issues that are transforming contemporary media industries and markets.

Gillian Doyle makes the economics of the media fascinating, compelling and easy to understand. This is essential reading for students of media economics, media management, media policy and courses across the cultural and creative industries.

 
Chapter 1: Introduction
What Is Media Economics about?

 
Macroeconomics and Microeconomics

 
The Firm in Economic Theory

 
Competitive Market Structures

 
Market Structure and Behaviour

 
What Is So Special About Economics of the Media?

 
Key Economic Characteristics of the Media

 
Economies of Scale

 
Economies of Scope

 
Changing Technology

 
 
Chapter 2: Convergence and Multi-Platform
The Vertical Supply Chain

 
Changing Market Structures and Boundaries

 
Digital Convergence

 
Technological Change, Innovation and Creative Destruction

 
Multi-Platform

 
A New Cornucopia?

 
 
Chapter 3: Corporate Growth and Concentration Strategies
Strategic Responses to Digitization

 
Managerial Theories

 
Horizontal Expansion

 
Diagonal and Conglomerate Growth

 
Vertical Expansion

 
Transnational Growth

 
 
Chapter 4: Networks
Economics of Networks

 
Broadcasting Networks

 
Global Networks in Transnational Publishing

 
Online Content Distribution

 
Social Networks and Microblogging

 
The Changing Role of Networks in Media Economics

 
 
Chapter 5: Demand: Push to Pull
Mass to Niche

 
User Empowerment

 
Segmentation and Branding

 
Audience Flow Management

 
Market Failure in Broadcasting

 
Public Service Content Provision

 
 
Chapter 6: Economics of Content Supply
Novelty and Risk Spreading

 
Portfolios

 
Repetition and Formats

 
Hollywood and Risk

 
Funding Models: Cost Plus Versus Deficit Financing

 
Windowing

 
 
Chapter 7: Copyright
The Economic Origins of Copyright

 
Copyright and Welfare Losses

 
Digitisation and Enforcement

 
Globalisation

 
Territoriality and Free Trade Areas

 
Commercial Models Other Than Copyright

 
Non-Market Alternative Means of Incentivising Creativity

 
Adjusting Copyright to the 'Open' Internet

 
 
Chapter 8: Media and Advertising
The Advertising Industry

 
Why Does Advertising Take place?

 
Are Firms in Control of Their Own Markets?

 
Informative Versus Persuasive Advertising

 
Advertising as a Barrier to Market Entry

 
Advertising and the Performance of the Economy

 
The Rise of Internet Advertising

 
The Firm's Advertising Decision

 
 
Chapter 9: Digital Media Economics and Public Policy
Free Market Versus Intervention

 
Support Measures for Media Content

 
Protectionism

 
Concentrated Media Ownership

 
Promoting Competition

 
Monopolies and Technological Change

 
Maximising Efficiency

 
PSBs and State Aid Rules

 

The first edition of this book was extremely influential and helpful for me as a student, the new addition will now become equally essential for my students. I have already aquired two personal copies.

Dr Todd Nesbitt
Department of Communication, New York University in Prague
July 10, 2013
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