Reconsidering media economics: From orthodoxies to heterodoxies

Stuart Cunningham, Terry Flew

Research output: Contribution to journalArticlepeer-review

Abstract

This paper argues the case for closer attention to media economics on the part of media, communications and cultural studies researchers. It points to a plurality of approaches to media economics, that include the mainstream neoclassical school and critical political economy, but also new insights derived from perspectives that are less well-known outside of the economics discipline, such as new institutional economics and evolutionary economics. It applies these frameworks to current debates about the future of public service media (PSM), noting limitations to both ‘market failure’ and citizenship discourses, and identifying challenges relating to institutional governance, public policy and innovation as PSMs worldwide adapt to a digitally convergent media environment.
Original languageEnglish
Pages (from-to)1-18
Number of pages18
JournalMedia Industries
Volume2
Issue number1
DOIs
Publication statusPublished - 2015
Externally publishedYes

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