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This is the first non-specialist introduction to the economics of the contemporary film and television business. This global industry is significant both financially and culturally, and the political economy of its trade is an extremely sensitive issue. Are cultural goods merely entertainment goods? And why does the US dominate this territory? The present volume offers a systematic, structured explanation of how the global markets for TV and f...

How does the Internet affect the supply of information-based entertainment and cultural goods? Why do telephone companies have peak and off-peak prices for long-distance calls? Why is broadcasting-but not newspaper publishing-usually regulated and sometimes subsidized? Media Economics: Application of Economics to New and Traditional Media provides a thorough foundation of the microeconomic principles and concepts needed to understand media ind...