The Economics and Financing of Media Companies: Second Edition / Edition 2

The Economics and Financing of Media Companies: Second Edition / Edition 2

by Robert G. Picard
     
 

In this updated and expanded edition of the acclaimed Economics and Financing of Media Companies, leading economist and media specialist Robert G. Picard employs business concepts and analyses to explore the operations and activities of media firms and the forces and issues affecting them.Picard has added new examples and new data, and he covers such emerging areas

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Overview

In this updated and expanded edition of the acclaimed Economics and Financing of Media Companies, leading economist and media specialist Robert G. Picard employs business concepts and analyses to explore the operations and activities of media firms and the forces and issues affecting them.Picard has added new examples and new data, and he covers such emerging areas as the economics of digital media. Using contemporary examples from American and global media companies, the book contains a wealth of information, including useful charts and tables, important for both those who work in and study media industries. It goes beyond simplistic explanations to show how various internal and external forces direct and constrain decisions in media firms and the implications of the forces on the type of media and content offered today.

Product Details

ISBN-13:
9780823232574
Publisher:
Fordham University Press
Publication date:
06/01/2011
Edition description:
2
Pages:
270
Product dimensions:
6.00(w) x 8.90(h) x 0.90(d)

Table of Contents

Preface
1Media Firms as Business Entities1
Commercial Media and the Theory of the Firm3
The Roles of Profit and Return4
Media Firms and Risk6
Market, Financial, and Operational Characteristics of Media9
2Business Models, Workflows, and Value Chains in Media Firms21
Media Products and Services21
Life Cycles of Media24
Business Models in Media25
Workflows in Media Firms26
Media Value Chains30
Competitiveness44
Sustainability46
3Economic Forces Affecting Media48
Market Forces48
Cost Forces54
Cost Structures of Media Result from Effects of Economic Forces59
Regulatory Forces and Intervention69
Barriers to Entry and Mobility in Media Markets72
4The Influence of the General Economy on Media81
Growth and Contraction of the Economy81
Inflation86
Interest Rates92
Exchange Rates94
Preparing for Economic Changes97
5Audiences and Consumers102
Audiences104
Consumers112
Demand and Prices of Media Products and Services116
Customer Satisfaction118
Audience Substitution of Media and Communications119
Strengthening and Stabilizing Audience and Consumer Relationships120
6Media, Advertisers, and Advertising122
Why Advertising Exists123
Differences among Advertisers and Their Strategies125
Effectiveness of Different Media127
Mechanisms of Advertising128
Advertising Spending on Media and Media Products131
Demand and Pricing of Advertising132
Media Substitution by Advertisers136
Media as Advertisers137
7Competition in Media Markets139
Competition and Market Power140
Product and Audience Differentiation Constrain Competition142
The Role of Geographic Markets143
Benefits of Competitive Advantages146
Brands and Branding Aid in Competition147
Competition among the between Media149
8Concepts in Media Financing and Financial Management154
Understanding Financial Flow156
Problems of Financing a New Firm or Product156
Financing Continuing Operations160
Credit Management161
Cash Management Issues167
9Capital Markets and Media Firms172
Wants and Needs of Capital Sources172
Venture Capital Helps Fund New Companies and Expansion174
Self-generated and Borrowed Capital Supports Most Existing Media176
Stock Markets Support Large Media Firms177
The Globalization of Media Capital185
10The Development of Large Media Companies188
Growth Pressures and Strategies193
Growth through Diversification197
Growth through Mergers and Acquisitions198
Growth through Joint Activities201
The Pursuit of Synergies204
Organization and Management of Large Firms206
How Large Is Large?209
11Trade and Globalization in Media Products and Services212
Trade in Media Products and Services213
Barriers to Trade in Media Products and Services218
Regional and Global Trade Agreements222
Methods of Globalization223
Patterns of Media Globalization226
12Indicators of Economic and Financial Health of Media Firms230
Indicators of Economic Health230
Indicators of Financial Health231
Indicators of Company Internal Health237
Glossary251
About the Author263
Index265

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