The Economics and Financing of Media Companies (Business, Economics and Legal Studies, 1) (1ST)

The Economics and Financing of Media Companies (Business, Economics and Legal Studies, 1) (1ST)

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  • 製本 Hardcover:ハードカバー版/ページ数 270 p.
  • 言語 ENG,ENG
  • 商品コード 9780823221745
  • DDC分類 338.4730223

基本説明

Applies business concepts and analyses to the understanding of the operations and activities of media firms and of the forces and issues affecting them.

Full Description


The Economics and Financing of Media Companies is the first book to broadly apply business concepts and analyses to the understanding of the operations and activities of media firms and of the forces and issues affecting them.The book is a wide-ranging and general survey of the financial structures of various media companies, including their marketing and distribution systems. The author focuses on American companies but draws in European companies that own brands with which U.S. readers have familiarity. The author discusses product life cycles, as well as outside forces-such as the global and local economies, interest rates, trade barriers-that impact a company's financial health. This book draws upon current events and treats the most up-to-date information available, including a discussion of the AOL-Time Warner merger.

Table of Contents

Preface                                            xi
Media Firms as Business Enttities 1 (20)
Commercial Media and the Theory of the Firm 3 (1)
The Roles of Profit and Return 4 (2)
Media Firms and Risk 6 (3)
Market, Financial, and Operational 9 (9)
Characteristics of Media
Summary 18 (3)
Business Models, Workflows, and Value Chains 21 (27)
in Media Firms
Media Products and Services 21 (3)
Life Cycles of Media 24 (1)
Business Models in Media 25 (1)
Workflows in Media Firms 26 (4)
Media Value Chains 30 (14)
Core Business 36 (2)
Value Chains and Convergence in 38 (6)
Publishing Industries
Competitiveness 44 (2)
Sustainability 46 (1)
Suggested Readings 46 (2)
Economic Forces Affecting Media 48 (33)
Market Forces 48 (6)
Capital Availability and Rent 48 (1)
Audience/Consumer Demand 49 (2)
Advertiser Demand 51 (1)
Competition 51 (2)
Substitutability 53 (1)
Cost Forces 54 (5)
Economies/Diseconomies of Scale 54 (1)
Economies/Diseconomies of Scope 54 (1)
Economies/Diseconomies of Integration 55 (1)
Fixed and Variable Costs 56 (3)
Cost Structures of Media Result from 59 (10)
Effects of Economic Forces
Content Costs 59 (1)
Production/Distribution Costs 60 (3)
Marketing and Advertising Costs 63 (3)
Transaction Costs 66 (2)
Nonmonetary Costs 68 (1)
Regulatory Forces and Intervention 69 (3)
Technical/Structural Regulation 70 (1)
Behavioral Regulation 71 (1)
Barriers to Entry and Mobility in Media 72 (9)
Markets
Capital Requirements 72 (1)
Economies of Scale 73 (1)
Product Differentiation 73 (1)
Switching Costs 73 (2)
Limited Access to Distribution Channels 75 (1)
Government Policies 75 (4)
Competitive Advantages 79 (1)
Overcoming and Reducing Barriers 79 (1)
Suggested Readings 80 (1)
The Influence of the General Economy on Media 81 (21)
Growth and Contraction of the Economy 81 (5)
Inflation 86 (6)
Interest Rates 92 (2)
Exchange Rates 94 (3)
Preparing for Economic Changes 97 (3)
Preparing for Fluctuations in the Economy 98 (1)
Preparing for Changes in Inflation 99 (1)
Preparing for Changes in Interest Rates 99 (1)
Preparing for Changes in Exchange Rates 99 (1)
Suggested Readings 100(2)
Audiences and Consumers 102(20)
Audiences 104(8)
Wants and Needs of Audiences 105(1)
Audience Measures 106(3)
Audience Fragmentation 109(2)
Time and Media Use 111(1)
Consumers 112(4)
Demand and Prices of Media Products and 116(2)
Services
Customer Satisfaction 118(1)
Audience Substitution of Media and 119(1)
Communications
Strengthening and Stabilizing Audience and 120(1)
Consumer Relationships
Suggested Readings 121(1)
Media, Advertisers, and Advertising 122(17)
Why Advertising Exists 123(2)
Differences among Advertisers and Their 125(2)
Strategies
Effectiveness of Different Media 127(1)
Mechanisms of Advertising 128(3)
Advertising Spending on Media and Media 131(1)
Products
Demand and Pricing of Advertising 132(4)
Media Substitution by Advertisers 136(1)
Media as Advertisers 137(1)
Suggested Readings 138(1)
Competition in Media Markets 139(15)
Competition and Market Power 140(2)
Product and Audience Differentiation 142(1)
Constrain Competition
The Role of Geographic Markets 143(3)
Benefits of Competitive Advantages 146(1)
Brands and Branding Aid in Competition 147(2)
Competition among and between Media 149(4)
Intermedia Competition 150(1)
Intramedia Competition 151(2)
Summary 153(1)
Suggested Readings 153(1)
Concepts in Media Financing and Financial 154(18)
Management
Understanding Financial Flow 156(1)
Problems of Financing a New Firm or Product 156(4)
Financing Continuing Operations 160(1)
Credit Management 161(6)
Credit Evaluation 164(1)
Credit Risk Management 165(1)
Collection 165(1)
Bad Debt 166(1)
Internal Credit Management Reports 166(1)
Cash Management Issues 167(2)
Summary 169(1)
Suggested Readings 169(3)
Capital Markets and Media Firms 172(16)
Wants and Needs of Capital Sources 172(2)
Venture Capital Helps Fund New Companies 174(2)
and Expansion
Self-generated and Borrowed Capital 176(1)
Supports Most Existing Media
Stock Markets Support Large Media Firms 177(8)
Stock Market Operations 179(2)
Stock Markets Worldwide 181(1)
Major Media Companies Traded on Stock 182(3)
Markets
The Globalization of Media Capital 185(1)
Suggested Readings 186(2)
The Development of Large Media Companies 188(24)
Growth Pressures and Strategies 193(4)
Growth Through Diversification 197(1)
Growth Through Mergers and Acquisitions 198(3)
Growth Through Joint Activities 201(3)
The Pursuit of Synergies 204(2)
Organization and Management of Large Firms 206(3)
Company Cultures 207(1)
Managerial Conflicts 207(2)
How Large Is Large? 209(1)
Suggested Readings 210(2)
Trade and Globalization in Media Products and 212(18)
Services
Trade in Media Products and Services 213(5)
Barriers to Trade in Media Products and 218(4)
Services
Regional and Global Trade Agreements 222(1)
Methods of Globalization 223(3)
Direct Export 224(1)
Product Licensing and Rights Purchases 224(1)
Format Licensing 224(1)
Joint Ventures 225(1)
Direct Foreign Investment 225(1)
Patterns of Media Globalization 226(2)
Summary 228(1)
Suggested Readings 229(1)
Indicators of Economic and Financial Health 230(21)
of Media Firms
Indicators of Economic Health 230(1)
Market Share Change or Maintenance 230(1)
Changes in Demand 231(1)
Indicators of Financial Health 231(6)
Sales Revenue Growth or Decline 232(2)
Change in Results 234(1)
Debt Growth or Decline 234(1)
Change in Asset Value 235(1)
Reinvestment 236(1)
Indicators of Company Internal Health 237(8)
Productivity 237(4)
Capacity Utilization 241(1)
Employee Turnover 241(1)
Personnel Skills and Knowledge 242(1)
Innovation (R&D, New Products/Services) 243(1)
Resource Dependence 243(2)
Benchmarking 245(3)
Suggested Readings 248(3)
Glossary 251(12)
About the Author 263(2)
Index 265