Triumph and Erosion in the American Media and Entertainment Industries

Triumph and Erosion in the American Media and Entertainment Industries

Triumph and Erosion in the American Media and Entertainment Industries

Triumph and Erosion in the American Media and Entertainment Industries

Synopsis

The book opens with a discussion of the American economy and its macro-effects on changes and developments in media and entertainment generally. Then in Part I, Steinbock looks at broadcasting and cable, tracing the former's decline and the latter's rise, and then at the "multiplication" of conglomerates: the studios, talent agencies, home video and syndication companies, theme parks, and even the emerging producers of interactive multimedia and virtual reality. A full section is devoted to all of the major players, their corporate struggles with each other, including the Time Warner and Paramount M&A wars. In Part II, Steinbock discusses the electronic superhighway and other government-initiated policies that will have a significant impact on strategic industry alliances. The book concludes with an assessment of how all of the technological, economic, and political influences emerging today will radically reshape the media/entertainment complex, not only in the United States but throughout the world.

Excerpt

Triumph and Erosion derives from a multifaceted research project on "American Media and Entertainment" that began in September 1986, when I first arrived in New York City as a visiting Fulbright scholar. After a brief affiliation with the Cinema Studies Department of New York University (1986-89), some studies at the New School for Social Research (Department of Photography), as well as linking with the Freedom Center of Media Studies (Columbia University), I focused my research on the competitiveness of the U.S. media and entertainment (M&E) industry. in 1987-90 I wrote several papers on the subject as a senior researcher of Finland's Academy of Sciences.

I was fascinated by the Janus face of American media and entertainment: triumphant products, eroding control. and I wanted to devise a comprehensive source on American M&E businesses that could serve general readers and be used as a text for graduate and advanced undergraduate students in a multitude of disciplines: film, television and communications studies, applied economics, industrial organization, competitive strategy, and corporate finance. the book should also prove a handy reference for M&E professionals, executives, financial analysts, investors, as well as journalists.

Since the focus of this work is on major American media and entertainment companies, I have left out issues involving tv producers, independent cinema, and public broadcasting. Focusing on domestic competition in . . .

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