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The Economics and Financing of Media Companies

Second Edition

Robert Picard

Publication Year: 2011

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.

Published by: Fordham University Press

Title Page, Copyright

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pp. vii-ix

This book is intended to help the reader to develop better understanding of how economic and financial forces influence the operations and developments of media and communications firms. It is designed to improve the knowledge of those who work or will work in such firms so that they can better cope with the increasing complexity...

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CHAPTER 1. Media Firms as Economic and Business Entities

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pp. 1-24

To understand media industries, one must understand what drives media companies, how their markets work, and the pressures that lead executives to make choices about the ways their companies will be structured, the activities they will undertake, and the performance they require. Companies raise capital, create facilities, employ...

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CHAPTER 2. Business Models, Workflows, and Value Chains in Media Firms

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pp. 25-58

Media companies are producers that acquire and combine resources to create a product or service that is purchased by others. The characteristics of media products and services, the ways they are intended to be provided in the marketplace, the methods by which they are produced and distributed, and the value created by these processes...

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CHAPTER 3. Distribution and Retail Sales of Media

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pp. 59-71

Producing content is a fundamental activity of media firms, but that content must reach consumers before the firms can be considered as actually doing business. The processes of getting the content to customers are central and often-ignored aspects of media enterprises that are crucial to determining the success of the content. Media...

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CHAPTER 4. Economic Forces Affecting Media

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pp. 72-100

Four major categories of economic forces affect operations and choices of managers in media firms: market forces, cost forces, regulatory forces, and barriers to entry and mobility....

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CHAPTER 5. The Influence of the General Economy on Media

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pp. 101-119

General economic and financial forces are important to media and communications firms because these business enterprises are simultaneously consumers and producers. Changes in the economy and economic activity affect the consumption of goods...

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CHAPTER 6. Audiences and Consumers

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pp. 120-138

The concepts of consumers and audiences are not synonymous when dealing with media and communications industries. Despite the tendency to use the two interchangeably in common discussion, the differences between the two concepts are important and affect how their activities are measured and understood....

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CHAPTER 7. Media, Advertisers, and Advertising

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pp. 139-154

Advertisers are critical to the success of commercial media because they provide the primary revenue stream that keeps most of them viable. Broadcasters, trade magazine publishers, and newspaper publishers exhibit the highest levels of dependence on advertising income among media firms (see Figure 7-1). Advertisers, however,...

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CHAPTER 8. Competition in Media Markets

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pp. 155-169

Competition in media markets represents the rivalry of media firms to provide products and services. Many media managers believe their firms face high competition in their product markets but, in reality, the competition they face is relatively moderate or low, depending upon their product and location. By comparison to other...

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CHAPTER 9. Concepts in Media Financing and Financial Management

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pp. 170-184

Financing involves meeting the monetary needs of a firm so that it may be established, operated, and developed. Issues of financing range from creating sufficient funds to establish a firm, to obtaining money to pay for operations, to gathering funds to invest in growth....

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CHAPTER 10. Capital Markets and Media Firms

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pp. 185-199

Capital markets are locations in which individuals and firms seek money needed to create enterprises, to start new initiatives, to purchase new equipment and facilities, and to finance operations. Capital in the form of debt and equity are exchanged in organized and...

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CHAPTER 11.The Development of Large Media Companies

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pp. 200-219

Large media companies result from the creation of an administrative organization that is used to pursue growth-oriented business strategies. Until the last half of the twentieth century, media firms tended to be small and midsized enterprises. Even the companies operated...

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CHAPTER 12. Trade and Globalization in Media Products and Services

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pp. 220-234

Mid- and large-sized media companies are increasingly expanding their activities internationally as they attempt to benefit from additional opportunities and markets for their content and services. Even some small enterprises are finding innovative ways to operate...

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CHAPTER 13. Indicators of Financial and Economic Health of Media Firms

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pp. 235-252

In order to evaluate the operations of their firms and to compare performance over time or among firms, managers employ a variety of economic and financial indicators to measure the health of their media firms. These include indicators of economic and financial health and indicators of internal company health....


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pp. 253-264


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pp. 265-274

E-ISBN-13: 9780823249091
Print-ISBN-13: 9780823232567
Print-ISBN-10: 0823232565

Page Count: 270
Publication Year: 2011