Summary
Contents
Subject index
‘This book provides an extremely well written and informative introduction to the subject of media economics, characterized by clarity in the explanation of concepts or frameworks and by a balanced discussion for the respective positions in areas of debate’ – Paul MacDonald, Roehampton Institute
‘This book is a very valuable contribution to the media economic literature’ – Richard van der Wurff, Dept of Communication, University of Amsterdam
Understanding Media Economics provides a clear, precise introduction to the key economic concepts and issues affecting the media.
The book: explains the fundamental concepts relevant to the study of media economics; considers the key industrial questions facing the media industries today; relates economic theory to business practice; covers a wide range of media activity – advertising, television, film, print media, and new media; and looks at the impact of economics on public policy.
The Second Edition of Understanding Media Economics is has been fully updated, and offers a stimulating perspective on the contemporary media environment. This book remains an essential purchase for all students of the media and mass communication.
Television Broadcasting
Television Broadcasting
Television is the largest component of the media industry in most developed economies. In the UK, television attracts some 28 per cent of total expenditure on advertising (Advertising Association, 2000: 4). In the US, it accounts for more than 20 per cent of all media revenues (Gasson, 1996: 114). The sector can be broadly subdivided into the activities of broadcasting and programme production, although some television companies are involved in both. The current chapter focuses on the economics of broadcasting while Chapter 5 examines the upstream activity of production or content-making.
This chapter examines alternative funding structures and mechanisms for television and considers market failures associated with broadcasting. The importance of economies of scale and scope are considered and the significance, for all ...
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