The Economics and Financing of Media Companies

The Economics and Financing of Media Companies

The Economics and Financing of Media Companies

The Economics and Financing of Media Companies


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.


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 of the environment in which their firms operate.

The book is designed to make new, junior and mid-level managers, and future managers, more effective in confronting the demands of the increasingly competitive communications industries by improving their abilities to respond to the ever-changing problems and issues that arise in the course of managing such firms. It is also intended to give those who observe media a broader context in which to consider the operations and decisions made by media managers.

This book strives to provide concepts for understanding and analyzing communications companies and their situations, to increase readers’ abilities to identify and evaluate alternative strategies and courses of action, and to allow them to work more effectively with specialists with deeper expertise in finance and economics.

This second edition updates and expands the first edition. It contains updated examples of concepts and issues faced by actual firms. It includes a new chapter on media distribution mechanisms, discussions of how many differ from other industries and differences among media and how they are produced, more material on intellectual property rights and management, and more information on Internet and other digital media whose significance has increased since the first edition.

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