By Alan B. Albarran
The Media Economy analyzes the media industries and their actions from macro to micro degrees, utilizing thoughts and theories to illustrate the function the media performs within the financial system as a complete. Representing a swiftly altering and evolving surroundings, this article breaks new floor via its research from distinct views:
- examining the media industries from a holistic viewpoint via studying how the media industries functionality throughout varied degrees of society (global, nationwide, loved ones and person)
- looking on the key forces (technology, globalization, rules, and social facets) continually evolving and influencing the media industries.
It comprises examples from either constructed and constructing countries, in addition to info and traits from those international locations, delivering a wide enviornment of research.
Key beneficial properties of this leading edge textual content include:
- topics new to media economics texts, corresponding to finance and funding, exertions, and social aspects
- accessible dialogue of advanced strategies and their program to media industries
- new instructions for either theoretical and methodological areas.
With the media industries in an ongoing nation of switch and transformation, The Media Economy deals new reference issues for the sector to contemplate while defining and examining media markets. it's crucial analyzing for college kids and practitioners in media administration and economics who have to comprehend the function of media within the worldwide economy.
Read Online or Download The Media Economy PDF
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Extra resources for The Media Economy
A mixed economy involves free market principles and ideals, but also features government regulation and oversight. The media systems in the United Kingdom and the United States are two of the largest examples of such systems in countries operating a mixed economy. In a mixed economy, the media is predominantly owned by private enterprises and perhaps even foreign investors as opposed to the government—but that doesn’t mean the government has no ownership in the media. Many countries in Europe, Latin America, Asia, and Africa own national or regional broadcast channels (TV and radio) and also publish or subsidize some newspaper operations.
And especially culture and advertising. Needs are more basic than wants. In the strictest sense, needs are things we need in order to survive, such as food, water, shelter, and clothing. We need a job or some sort of income in order to provide for our needs and those of others who depend on us. We also need some sense of structure or purpose in our lives. Needs are very basic, but, in a media-rich world filled with persuasive advertising messages, popular culture, and societies driven by consumption and acquisition, people often confuse wants with needs.
When personal computers were fi rst introduced in the 1980s, prices were high. Over time, the price declined, leading to more households adopting their fi rst computer. The decline in prices meant more sales of computers. In the media economy, elastic demand is typical for many types of consumer technologies, ranging across such items as laptops, HDTV receivers, DVD and Mp3 players, and mobile phones. Unit-elastic demand occurs when there is a change in price, resulting in a proportionally equivalent change in demand.
The Media Economy by Alan B. Albarran