By Paul Seabright, Jürgen von Hagen
New know-how is revolutionizing broadcasting markets. because the price of bandwidth processing and supply fall, information-intensive prone that when bore little financial courting to one another are actually more and more comparable as substitutes or enhances. tv, newspapers, telecoms and the web compete ever extra fiercely for viewers awareness. whilst, electronic encoding makes it attainable to cost costs for content material that had formerly been broadcast at no cost. this is often growing new markets the place none existed prior to. How should still public coverage reply? Will festival bring about larger providers, larger caliber and extra customer selection - or to a proliferation of low-quality channels? Will it result in dominance of the industry by way of a number of robust media conglomerates? utilizing the insights of recent microeconomics, this ebook presents a cutting-edge research of those and different concerns through investigating the facility of rules to form and keep watch over broadcasting markets.
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Extra resources for The Economic Regulation of Broadcasting Markets: Evolving Technology and Challenges for Policy
6 The second is taken from the European Competitive Telecommunications Association (ECTA). The OECD regulation database used a survey to produce sixteen low-level regulatory indicators, each ranging from 0 (least regulated) to 6 (most). These were then weighted to produce a single measure of product market regulation (PMR) with the same range (Conway, Janod and Nicoletti, 2005). We edit this to focus on telecommunications by removing information specific to other sectors. Thus, the result still reflects general product market regulation but has been purged of information specific to other sectors, especially the road freight and airline industries.
Two very different views have been expressed about the impact of digitisation on content creation. One is that content is becoming more abundant as it becomes easier to create and transmit, so that rents to scarce content are falling. 8 Furthermore, it is becoming easier for viewers with niche interests to find content that corresponds to their preferences, since falling costs of worldwide transmission mean that a film or programme can reach more easily the critical mass of viewers that makes it economically viable.
G. popular sports) may have offset this trend. Digital compression allows many more channels to be transmitted for a given bandwidth allocation, reducing the unit cost of transmission. With analogue technology, limited transmission capacity (resulting from the scarcity of spectrum or other transmission media) constrains the number of channels that can be broadcast. By allowing much more information to be transmitted over a given bandwidth, digital format greatly increases the number of channels that can be broadcast: digital terrestrial transmission (DTT) supports several dozen channels, while digital satellite and cable platforms can support hundreds.
The Economic Regulation of Broadcasting Markets: Evolving Technology and Challenges for Policy by Paul Seabright, Jürgen von Hagen