January 31 Media Economics & Profit

January 31 Media Economics & Profit - Economics of the...

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Economics of the Media Industry: the role of profit January 31, 2008
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The Logic of Safety Few proposed programs end up on television 10% of shows provide profit to cover the rest of the programming schedule (same holds true for music, print, film) Consequences Avoidance of controversy Imitation – format copying - spinoffs
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Television is costly to produce Increased competition from cable (note the recent golden globes) Production-value “look” is expensive It would be expensive to make LOST every day Rise in reality programming; newsmagazine shows
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Decrease in journalists Use staff on multiple corporate outlets Cut back on long-term investigative stories Use of wire services Use of Video Public Relations segments Rely on a small number of elites for news Focus in pre-planned events Not so much on spur of the moment issues Focus coverage on a limited number of institutions; in big cities Use of stringers for foreign new
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January 31 Media Economics & Profit - Economics of the...

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