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Media Ownership and Concentration in America$
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Eli Noam

Print publication date: 2009

Print ISBN-13: 9780195188523

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780195188523.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 25 November 2020

The Findings and the Model

The Findings and the Model

(p.432) 19 The Findings and the Model
Media Ownership and Concentration in America

Eli M. Noam

Oxford University Press

Earlier, this book presented a simple model for the dynamics of the information sector. It is based on two variables: lower entry barriers, which induce a new entry, and growing economies of scale, which lead to a more concentrated market structure. A third factor is digital convergence. It means that as industries become more digital in their technical characteristics, they also become more “digital” in their fundamental economic characteristics and hence in their market concentration characteristics. The concentration of the information sector dropped as both entry barriers and economies of scale dropped. This was the period of openness and competition. It was soon followed by the takeoff of the Internet and a boom period unparalleled in recent decades in American economic history. What has happened is that the entire information sector—from film to music to newspapers to telecommunications to Internet to microchips and anything in between—has been subject to a gigantic price deflation in slow motion. These are the factors underlying much of the consolidation in the information sector.

Keywords:   information sector, market concentration, entry barriers, economies of scale, digital convergence, competition, Internet, deflation, consolidation

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