The Characteristics of Media Goods and the Media Economics Structure
Media is, to a large extent, a complex industry covering comprehensive areas, ranging from business operation to creative ideas. However, at a fundamental level, the study of media economics mainly focuses on the main players of the industry: companies, consumers as well as the environment. That is to say, the media economy can help us analyze and understand the relations among the producers, viewers, advertisers, government and community. This essay will be divided into three aspects: characteristics of media goods, characteristics of media market and the structure of media industry.
Characteristics of media goods
According to Doyle (2002), Media …show more content…
2. Product differentiation
Doyle (2002) pointed out that economies of scope are usually adopted by media companies in order to enrich and diversify products. Re-packaged and reformatted products, actually based on the same content, could be