among cable operators, while minimizing the dangers created by market concentration.
Lessons to be noted from the Study:从研究中指出的教训:
The main destabilising factor in South Korea was broadcasters, govt and consumers whereas in Israel, it came from broadcasters and antitrust agencies. But on a macro level, focussing only on competition can't bring about positive changes. Also, lower prices can't be the sole factor behind increasing penetration rates as seen in South Korea. There is also no direct correlation between competitiveness in market and increased service level and lower pricing due to many other factors.
Own Analysis of the Paper:
The paper uses Industrial Organization model
strategy for analysis. It is mostly used by large firms for maintaining share in highly segmented market like media and entertainment. This strategy keeps the competition small, creates an entry barrier and help the firms to access the next strategy of its competitors. This model is different from perfectly competitive market having large number of players. The biggest beneficiary of the system is big players in the market who has the control over pricing, information and other heavy capital intensive requirements. Entry barriers can be created by economic, political, sociological or technological factors. Any new entrant would need political ties, amount of capital for investment.
Vertical supply chain in television industry consists of production, packaging, distribution, conditional access and consumer interface. The natural aim of any broadcaster is to achieve 'Vertical Integration' so as to minimize losses due to uncertainty down the supply chain. Need for 'economies of scale' in content production increases the entry barrier for new players.
New distribution technologies have helped in reducing this entry barrier through digital compression which facilitates expansion. Also, arrival of direct viewer payment through satellite broadcasting has increased revenue collection for broadcasters. This also facilitates narrowcasting.
Regulatory measure and policy initiatives have been influential in determining the economic performance of media market and media firms. Consumers and firms are generally considered to be the best judges to their own interests. On the contrary, Govt intervention is required in case of market failure which needs correction. Govt intervention is also required to deal with the issues arising due to public goods nature of the broadcasting industry. Govt intervention may also be needed to curb the accumulation of excessive market power due to free operation of markets.
Media broadcast in terrestrial broadcasting has the 'public good' nature which are non-excludable. Marginal cost of transmitting to an extra television viewer is also minimal. Public goods also are non-exhaustible in nature. These kind of market can be handled by public ownership of broadcasting. But using public fund for financing the broadcasting is not fair where it denies the consumer sovereignty.
Various support measures are available for encouraging content generation and consumption in free market: Policy intervention designed to help domestic producers by restricting volume of imports of competing non-domestic media content, alternative policy approach to provide subsidies to domestic producers to improve competitiveness.
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