Media Economics - Theory and Practice (Paperback, 2nd Revised edition)

The importance of media economics became apparent in the massive business reorganizations of the 1980s and the 1990s. Due to regulatory, technological and financial changes, media became the target of takeovers, breakups, mergers and acquisitions. Media economics became much more than understanding cash flow within a single business organization. This book is designed to focus on the principles of economics in the business sector and to apply them to specific media industries. This volume examines the process of media economics decision making through an exploration of such topics as industrial restructuring, regulatory constraints upon media operations, and changing economic value. The structure and value of media industries have changed rapidly over the last decade. Thus, it is important to understand the mechanics of such changes so as to provide insight into the processes reproducing contemporary trends in media economics, rather than simply documenting historical patterns. The first part of this book focuses on the concerns of media economics, the techniques of economic and business analysis, and overall characteristics of the rapidly changing media environment. The second part examines economic practice within specific media industries.