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A concise introduction to the key ideas and issues in the study of media economics, drawing on a broad range of case studies - from Amazon and Twitter, to Apple and Netflix - to illustrate how economic paradigms are not just theories, but provide important practical insights into how the media operates today.

"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."--Publisher website

An Introduction to Media Economics provides a clear, precise introduction to the key economic concepts and issues affecting the media. Written with the needs of non-specialists in mind. This 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 * looks at the impact of economics on public policy The study of media has traditionally been dominated

This thesis contributes to the understanding of media markets by studying the determinants of media outlets' content choice, by developing novel techniques to assess media bias, and by analyzing the welfare effects of potential regulations. Chapter 2 demonstrates that advertising has a causal positive effect on content differentiation on YouTube, in particular, an exogenous increase in the technically feasible advertising quantity reduces the YouTubers' probability to duplicate mainstream content. Chapters 3, 4, and 5 develop novel techniques and applications to measure political media bias. Finally, Chapter 6 shows that commercial media bias can be mitigated by a cap on advertising quantity. The results contribute to the literature on content differentiation in (digital) media markets, political media bias, commercial media bias, two-sided (media) markets, media content as a public good, and user-generated content.

9780444627247_WEB -- Front Cover -- Handbook of Media Economics -- Copyright -- Introduction to the Series -- Contents -- Introduction -- Contributors -- Acknowledgment -- Dedication -- Part I: Media Market Structure and Performance -- Chapter 1: Preference Externalities in Media Markets -- 1.1. Introduction -- 1.2. Fixed Costs and Heterogeneous Preferences -- 1.2.1. Fixed Costs -- 1.2.2. Preference Heterogeneity -- 1.2.3. Willingness to Consume Second-Choice Products -- 1.2.4. Advertiser Finance -- 1.2.5. Change in Costs over Time -- 1.3. Theory -- 1.3.1. Classic Models -- 1.3.1.1. Preference Externalities with Spectrum Constraints: Steiner and Beebe Models -- 1.3.1.2. The Tyranny of the Yuppies -- 1.3.1.3. Lowest Common Denominator -- 1.3.2. Spatial Models -- 1.3.2.1. Negative Preference Externalities Under Monopoly -- 1.3.2.2. Preference Externalities Under Duopoly -- 1.3.3. Market Size and Equilibrium Media Diversity -- 1.3.4. Optimum Media Diversity -- 1.3.5. Cross-Group Externalities -- 1.3.6. Variety -- 1.3.7. Multiple Stations -- 1.4. Empirical Results: Facts Relevant to Predictions from Theory -- 1.4.1. The Own-Group Preference Externality -- 1.4.1.1. Market Size and Entry -- 1.4.1.2. Market Size and Variety -- 1.4.1.3. Market Size and Quality -- 1.4.1.4. Market Size and Consumption -- 1.4.2. Preference Externalities with Multiple Consumer Types -- 1.4.2.1. Preference Externalities in Markets with Few Products -- 1.4.2.2. Preference Externalities with Heterogeneous Consumers in Markets with Many Products -- 1.4.3. Efficient Entry and Preference Externalities -- 1.5. Technological Change, Fixed Costs, and Preference Externalities -- Acknowledgments -- References -- Chapter 2: The Advertising-Financed Business Model in Two-Sided Media Markets -- 2.1. Introduction -- 2.2. Cast of Characters -- 2.2.1. Consumers -- 2.2.2. Advertisers.

In the present work, I focus on micro-industrial organization's and political economy's theories used in the study of media economics, referring to two particular streams of the recent literature: media as two-sided market (I.O. field) and the effects of the presence of media bias (political economy field). I provide three different essays on the issue of media markets. In the first part, I deal with the I.O. analysis of media as two-sided markets: the first chapter provides a general framework of vertical differentiated media, analysing the effects of real and potential competition; the second work extented the setting of the first, by comparing different markets structures from a welfare point of view. Finally, in the second part, I move to the political economy approach of media markets, by presenting a theoretical essay on the issue of the interaction between media and politicians during elections.

The handbook presents key contributions from scholars worldwide, providing a comprehensive exploration of current trends in media industries from diverse perspectives. Within the framework of understanding contemporary and future trajectories in media markets and industries, the volume delves into their influence on media organization and delivery, along with broader societal and market implications. Encompassing research at the crossroads of economics, management, political economy, and production studies, the handbook emphasizes the necessity for a robust interdisciplinary dialogue. Beyond scrutinizing present and forthcoming industry developments, the handbook addresses pivotal issues pertaining to media economics research methods and pedagogy. It serves as a valuable resource for scholars, students, and media professionals, providing insights into media economics as an academic field and delving into the multifaceted dynamics that shape the media landscape. Doing this, it contributes to the ongoing discourse on the evolving nature of media markets and their profound impact on society

Handbook of Media Economics provides valuable information on a unique field that has its own theories, evidence, and policies. Understanding the media is important for society, and while new technologies are altering the media, they are also affecting our understanding of their economics.ïŽChapters span the large scope of media economics, simultaneously offering in-depth analysis of particular topics, including the economics of why media are important, how media work (including financing sources, institutional settings, and regulation), what determines media content (including media bias), and the effects of new technologies. The volumes provide a powerful introduction for those interested in starting research in media economics

Contents: Preface -- 1. Media economics research: a history of the field / Alan B. Albarran -- 2. Advancing media economics research through theory / Marianne Barrett and Chun Shao -- 3. Research traditions in media economics / Amy Jo Coffey -- 4. Global digital networks and global media systems: an economic perspective / Xiaoqun Zhang -- 5. Consumer demand and audience behavior / Angel Arrese, Mercedes Medina and Alfonso Sánchez-Tabernero -- 6. Economics of information and cultural goods / Bozena I. Mierzejewska and Castulus Kolo -- 7. Technological dimensions and media economics / Yu-li Liu and Wen-yi Hsu -- 8. News media viability / C. Ann Hollifield -- 9. Industry organization, media management and media economics / Ulrike Rohn -- 10. Social and ethical aspects of media economics research / María Elena Gutiérrez-Rentería -- 11. Challenges and opportunities in media economics research / Alan B. Albarran -- Index.