Excellent reference for understanding media business models

books:


	• Entertainment Industry Economics: A Guide for Financial Analysis Harold L. Vogel Cambridge University Press, 2007 - 646 pages average customer review:based on 9 reviews view larger image
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highly recommended

No coverage of the live popular music concert industry

Mr. Vogel has created a readable and informative book. The introductory chapters are a comprehensive overview of economics, leisure time, and media, and may be worth the discounted price of the book on their own.

My complaint is that the section on The Music Industry is not up to date. It is a treatise on the Recorded Music industry only, and neglects the live music concert industry.

His coverage of live popular music entertainment is literally one paragraph. The live concert industry is now one of the main revenue sources for musical artists, in addition to licensing. The concert industry generates over $10 Billion in revenues from live music performance tickets alone. Live Nation and AEG Live dominate. Madonna signed with Live Nation and not a traditional record label because this is now the focal point of the music industry. Contrary to Mr. Vogel's outdated assertion, recorded music is now often a promotional tool used to get fans to buy concert tickets. This has been the case for nearly a decade.

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Want a book to Put you to Sleep????

Then I'd recommend this book. It wouldn't be that bad if it were to exclude devoting a lot of time to basic principles of Macro and Microeconomics. If I wanted to study Macro or Microconomics, then I would have just bought a textbook on that subject. The author seems more inclined to impress us with his knowledge of economics in general than to focus on the entertainment industry. Very dry book.

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Entertainment Industry Economics

A very clear explanation of the history, issues, rationale and economic flows of the entertainment industry. The book includes a comprehensive list of sources of information as well as details the sources for every bit of information it provides. This is very useful as it familiarizes the reader with the gathering of information in relation with the industry and the relative authority of the sources.

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Excellent reference for understanding media business models

This book provides a thorough explanation of the business models of most of the media and entertainment industries - music, radio, TV, even casinos and theme parks. There is both a historical perspective and a presentation of the current state. Most of this information is not available in print or on the net elsewhere.

For example, there's a flowchart that explains royalties in the music industry that explained in one glance what would normally require personal discussions with five or ten people to uncover.

There is also information on valuation models and accounting treatments of the industries studied.

Some reviewers called this book dry - but I think the writing is compact, objective, and informative. Also, there are extensive footnotes and references to other sources.

Academic rigor, an analyst's objectivity and practicality, and an underlying enthusiasm for the subject - excellent.

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Insightful!

Author and entertainment industry analyst Harold L. Vogel sheds valuable light on the growing importance of fun in the American economy. His book shows surprising versatility, sometimes reading like an economics textbook, and other times providing an engaging and easily readable overview of the entertainment business. Vogel provides exhaustive sources and an authoritative perspective, linking the entertainment industry's technology-driven increase in productivity to the public's increased expenditures on music, movies, sports, games, theme parks and other forms of entertainment. The relatively modest attention he pays to the performing arts reflects their unfortunate status as a poor stepchild we find this book's breadth and depth impressive, and strongly recommends it to analysts, scholars and students who seek a clear picture of the economic role of entertainment.

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reviews: page 1, 2

In this newly revised book, Harold L. Vogel examines the business economics of the major entertainment enterprises: movies, music, television programming, broadcasting, cable, casino gambling and wagering, publishing, performing arts, sports, theme parks, and toys and games. The seventh edition has been further revised and broadened and differs from its predecessors by restructuring and repositioning the previous Internet chapter, including new material on the economics of networks and advertising, adding a new section on policy implications, and further expanding the section on recent theoretical work pertaining to box-office behaviour. The result is a comprehensive up-to-date reference guide on the economics, financing, production, and marketing of entertainment in the United States and overseas. Investors, business executives, accountants, lawyers, arts administrators, and general readers will find that the book offers an invaluable guide to how entertainment industries operate.

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