14. The Economics of Journalism and News Provision

Abstract

This chapter reveals how economic perspectives provide insights into journalism as a product, practice, and institution and how it is a factor in the changing environment of journalism. It reveals why the economics of journalism and news production are central to comprehending contemporary business and financial issues facing news organizations, developments of new forms of news provision, and what is happening to journalism in the twenty-first century. The chapter discusses how the characteristics of journalism and coverage choices affect economic value and consumer choice. It reveals how technologies and requirements for production and distribution are affected by economics and how these affect sustainability of journalism on different platforms. It explores how the business arrangements surrounding journalism are influenced by economic factors and how the development of new distribution methods alters competition and competitive positions of newspapers, news magazines, and television news. It shows how new economic factors in digital news operation make it challenging to construct economically feasible business arrangements. The chapter shows how insights from the economic perspective provide unique understanding of journalism, news enterprises, and the environment in which it takes place.

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