Media Economics. J201 Mass Media & Society November 22, 2013. Economics: A Standard Definition. The study of how societies use scarce resources to produce valuable commodities and distribute them among various groups (allocation of resources) . Media Economics defined:.
J201 Mass Media & Society
November 22, 2013
“The study of how media industries use scarce resources to produce content that is distributed among consumers in a society to satisfy various wants and needs” (Albarran).
“A term employed to refer to business operations and financial activities of firms producing and selling output into various media industries” (Owers et al).
…For Whom? (Allocation)
…How? (Capital, control, organization)
Breakdown of Revenue Sources, FY2010
Source: Standard & Poor’s
Comcast = video, high speed Internet and phone services
GE =aircraft engines, power generation, water processing, medical imaging, NBC Universal
Direct Broadcast Satellite TV
Newspapers and Information Services
Integrated Marketing Services
Cable Network Programming
“Serve” vs. “Target”
“Citizens” vs. “Consumers”
“Consumer control” vs. “consumer choice”