Video Economics

Autorentext
Bruce M. Owen is the president of Economists Incoporated, Washington, D.C. Steven S. Wildman is Associate Professor, Department of Communication Studies, Northwestern University.

Klappentext
"Video Economics" is a rigorous yet accessible analysis of the economics and business strategies of the television industry. Owen and Wildman identify the complex chain of program producers, distributors, and retailers whose objectives are to obtain viewers in order to sell them to advertisers, to charge them an admission fee, or both. They address the major issues affecting competitive advantage in the industry as well as such concepts as public good, economics of scale, and price discrimination. With each topic they present the economic tools required to analyze the industry.

Inhalt
Part 1 introduction: basic economics of broadcast television; players in the industry; regulatory reform; the notion of a public good. Part 2 The supply of programming: windowing; competition among producers; foreign markets; the competitiveness of program supply. Part 3 Traditional models of program choice: Steiner models; the Beebe model; pay television. Part 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. Part 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. Part 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. Part 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.

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