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Dec 4, 2023 · Media economics is the science of modeling value creation, competition and markets in the media industry. This is mostly an application of standard micro and macro economics to media related industries including entertainment, advertising, social media, music, games, internet media, theatre and art. The following are illustrative examples of ...
Economics provides a theoretical framework for analysing markets based on the clearly defined structures of perfect competition, monopolistic competition, oligopoly and monopoly.
The research field. A new way to talk about the media – A new conceptual framework. Media as products in a market – TV, radio, newspapers, books. Media economics is a field with a fairly short history; established in the 1980s.
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- Horizontal Concentration of Ownership
- Common Ownership
- Modified Herfindahl-Hirschman Index
- The Media Ownership and Concentration Diversity Index
In addition to organic growth of some firms, market concentration can change because of mergers and acquisitions in the market. When obtaining full control of the acquired entity, the calculation of ownership does not differ from the ways illustrated above. We can illustrate this with an example where Firms 1, 2, and 6 decide to merge and form a ne...
Depending on its extent and nature, cross-ownership can affect firms’ profit maximization; in that, it considers the effects of its own actions on the partly owned rivals’ or on its main owners’ profitability.Footnote 6 Consequently, mutual cross-ownership alters the nature of interdependence between oligopolistic firms more than simple, one-way ho...
In calculating the MHHI for a market or industry, we may follow the approach by Gramlich and Grundl (2017). It simplifies the calculations in O’Brien and Salop (2000) to get the profits notation as: The weight includes the weight that firm j places on the profits of the rival k, relative to the weight wjj it places on its own profits. These profit ...
According to Noam and The International Media Concentration Collaboration (2016), market power does not alone reflect media diversity and therefore there is a need for an index that takes into account the number of voices available. Most people prefer a greater diversity in their media supply. The availability of alternatives, even if they are smal...
Feb 8, 2023 · We conducted a global survey asking economic experts on their personal media consumption, their assessment of media quality, and the media's influence on their expectations about future economic developments.
“Media economics” is used here as a collective term for topics that deal with economic issues of the media. Not all methods fit all standard topics and theories. The overview of methods is therefore structured along the three levels macro, meso, and micro.
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Media economics seeks to combine the study of economics with the study of media. It is concerned with the changing economic forces that direct and constrain the choices of managers, practitioners and other decision-makers across the media.
