Video Economics / Edition 1

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Overview

Over the past fifteen years, the U.S. television industry has been transformed from a heavily regulated business to a highly competitive one, with new networks, technologies, and markets. 'Video Economics' addresses the major issues affecting competitive advantage in the industry, including sequential program release strategies, and high definition television.
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Editorial Reviews

Back Stage Shoot

As deregulation loosens government controls and fosters the television industry's competitive spirit, uncharted issues face management in such areas as cable expansion, new networks, technological progress and marketing opportunities. Bruce Owen and Steven Wildman address these emerging situations and outline strategies to assist the industry in its adjustment to a greater freedom, while still preserving its primary role as purveyors of a free flow of information.
— George L. George

Journal of Economic Literature

Video Economics is aimed at those for whom a fundamental understanding of the economics of the video industry is essential to their success in the industry: broadcasting, communication, journalism, cinema, and business students; advertising and media executives; and public policy makers. This book draws on its authors' backgrounds as academics, government officials, and consultants. Their wide-ranging experiences significantly enrich the 'real world' content of the work...The book is commendable for the depth that it provides, [and it] also is steeped with interesting facts and insights.
— Mark Zupan

Journal of Communication

Video Economics is an ambitious book, and overall, I rate it to be a significant contribution to the literature and a good resource for students.
— David Waterman

Journalism Quarterly

Writing as economists, the authors argue for a video marketplace that is not only competitive, but offers the greatest potential for freedom of expression and a diverse exchange of ideas.
— Alan B. Albarran

Back Stage Shoot - George L. George
As deregulation loosens government controls and fosters the television industry's competitive spirit, uncharted issues face management in such areas as cable expansion, new networks, technological progress and marketing opportunities. Bruce Owen and Steven Wildman address these emerging situations and outline strategies to assist the industry in its adjustment to a greater freedom, while still preserving its primary role as purveyors of a free flow of information.
Journal of Economic Literature - Mark Zupan
Video Economics is aimed at those for whom a fundamental understanding of the economics of the video industry is essential to their success in the industry: broadcasting, communication, journalism, cinema, and business students; advertising and media executives; and public policy makers. This book draws on its authors' backgrounds as academics, government officials, and consultants. Their wide-ranging experiences significantly enrich the 'real world' content of the work...The book is commendable for the depth that it provides, [and it] also is steeped with interesting facts and insights.
Journal of Communication - David Waterman
Video Economics is an ambitious book, and overall, I rate it to be a significant contribution to the literature and a good resource for students.
Journalism Quarterly - Alan B. Albarran
Writing as economists, the authors argue for a video marketplace that is not only competitive, but offers the greatest potential for freedom of expression and a diverse exchange of ideas.
Read More Show Less

Product Details

  • ISBN-13: 9780674937161
  • Publisher: Harvard University Press
  • Publication date: 4/28/1992
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 384
  • Product dimensions: 6.31 (w) x 9.55 (h) x 1.03 (d)

Meet the Author

Bruce M. Owen is the president of Economists Incoporated, Washington, D.C.

Steven S. Wildman is Associate Professor, Department of Communication Studies, Northwestern University.

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Table of Contents

  • Preface


  • 1. Introduction
  • Basic Economics of Broadcast Television
  • Players in the Industry
  • Regulatory Reform
  • The Notion of a Public Good
  • Summary

  • 2. The Supply of Programming
  • Windowing
  • Competition among Producers
  • Foreign Markets
  • The Competitiveness of Program Supply
  • Summary

  • 3. Traditional Models of Program Choice
  • Steiner Models
  • The Beebe Model
  • Pay Television
  • Summary

  • 4. Modern Models of Program Choice
  • Demand Analysis
  • Welfare Analysis
  • The Spence-Owen Model
  • The Wildman-Owen Model
  • Multichannel Programming
  • New Directions in Program Choice
  • Summary

  • 5. Network Economics
  • Network Basics
  • Television News
  • Regulation
  • Risk Bearing
  • The New Cable Networks
  • The Decline of the Broadcast Networks
  • The Future of the Broadcast Networks
  • Strategic Options
  • Summary

  • 6. Cable Television
  • Cable and the FCC
  • New Program Services
  • Bundling of Transmission and Content
  • Natural Monopoly and Local Market Power
  • The Effective Competition Standard
  • No Case for Reregulation
  • Price Elasticity of Cable Demand
  • Competition from New Entrants
  • Too Few Gatekeepers?
  • The Issue of Access
  • Monopsony Power
  • Vertical Integration
  • Regulatory Policy
  • Local Broadcasters and Cable
  • Telephone Companies and Cable
  • Summary

  • 7. Advanced Television
  • Terminology
  • Brief History
  • The Economics of Standard Setting
  • Television Standards
  • Network Externalities
  • Obstacles to ATV Adoption
  • NTSC-ATV Compatibility
  • The Importance of Compatibility
  • Adoption Scenarios
  • Policy Issues
  • Summary

  • Bibliography
  • Notes
  • Index

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