New technologies are deeply transforming the broadcasting industry. What we have seen so far is only the beginning of a long story. Inevitably, industry regulations must adapt, which means that a wide-ranging rethink of current practices is required. In order to assess the likely evolution of the industry, this article decomposes it into a number of components, from conception of programmes to their broadcasting, including distribution, storage and licensing. Contrary to popular expectations, the analysis suggests that the current high degree of concentration will, if anything, increase. The policy implication is that regulation, so far driven by now obsolete technological constraints, should increasingly emphasize promoting competition. Copyright Centre for Economic Policy Research, Centre for Economic Studies, Maison des Sciences de l'Homme 1997.
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Article provided by CEPR, CES, MSH in its journal Economic Policy.
Volume (Year): 12 (1997) Issue (Month): 25 (October) Pages: 293-334 Download reference. The following formats are available: HTML,
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