Media Firms: Structures, Operations, and Performance

Media Firms: Structures, Operations, and Performance

Media Firms: Structures, Operations, and Performance

Media Firms: Structures, Operations, and Performance

Synopsis

Media Firms presents studies applying the company level approach to media and communication firms. It explores differences among missions, strategies, organizational choices, and other business decisions. Reviewing economic factors and pressures on media and communications companies, this book seeks to improve understanding of how these elements affect market and company structures, operations, and performance of firms. The chapters, written by leading scholars worldwide, were selected from papers on the theme of media firms presented at the 5th World Media Economics Conference hosted by the Turku School of Economics and Business Administration and The Journal of Media Economics. The collected studies provide: *an overview of economic and related managerial issues affecting the structures of markets in which firms compete; *the operations of media and communications firms; and *their financial performance. As a result, it expands the discussion of economic issues traditionally associated with the field due to narrowed focus of initial books in media economics. It is hoped that this book will induce additional avenues of inquiry regarding such issues.

Excerpt

Media firms are central to questions involving media economics, yet limited research in the field has actually focused on the company level since scholarly inquiry in the field began to flourish three decades ago. the literature of media economics is replete with studies at the industry level and with theoretical examinations of companies and their behaviour, but only a small portion explores media from the perspective of real firms and real choices.

This narrowness has perhaps resulted from an overreliance on industrial organisation studies focused on industry structures, national market analyses, and local market studies that asked broader questions about consumer and advertiser demand, industry performance, and competition issues. It has also been influenced by the fact that much research has concentrated on identifying conditions that exist in media industries and markets and providing evidence about the structures and forces at work in media and communications industries.

These approaches have been appropriate because the research of past years has been building a foundation of understanding of media economics and media as business entities, and much research was intended to provide evidence of industry conditions for policy purposes.

The dominant approaches, however, are limited and do not effectively explain how and why individual media companies behave as they do and how their choices and decisions create or respond to the conditions and forces found in the industry. Increasing interest in questions about these issues is a consequence of the foundations laid by industry- and market-oriented research of past decades and the interest they have generated in understanding company options and choices.

Questions about individual companies are important because they provide a clear picture of market dynamics and the pressures that lead company executives to make economic choices and choices about the ways their companies will be structured, the activities they will undertake, and the performance that is . . .

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