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Explaining the Star Shift in the Media– Why “Manufactured” Celebrities are More Lucrative than “Self-Made” Superstars

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  • Egon Franck
  • Stephan Nüesch

    ()
    (Institute for Strategy and Business Economics, University of Zurich
    Institute for Strategy and Business Economics, University of Zurich)

Abstract

Media companies enjoy increasing marginal returns if more customers watch a program. The viewer drawing capability of stars serves as a prominent instrument to increase audiences. However, lately there has been a significant shift in the kind of stars employed by the media from “self-made” superstars to “manufactured” celebrities. Our paper analyzes this trend exemplified by shows like e.g. Pop Idol and explains its driving forces by comparing the abilities of different kinds of stars to generate and to capture value.

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File URL: http://repec.business.uzh.ch/RePEc/iso/ISU_WPS/57_ISU_full.pdf
File Function: First version, 2006
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Bibliographic Info

Paper provided by University of Zurich, Institute for Strategy and Business Economics (ISU) in its series Working Papers with number 0057.

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Length: 24 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:iso:wpaper:0057

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Related research

Keywords: Star attraction; superstars; celebrities; Pop Idol; media;

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References

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  1. Steven Albert, 1998. "Movie Stars and the Distribution of Financially Successful Films in the Motion Picture Industry," Journal of Cultural Economics, Springer, vol. 22(4), pages 249-270, December.
  2. Spence, A Michael & Owen, Bruce, 1977. "Television Programming, Monopolistic Competition, and Welfare," The Quarterly Journal of Economics, MIT Press, vol. 91(1), pages 103-26, February.
  3. Lex Borghans & Loek Groot, 1998. "Superstardom and Monopolistic Power: Why Media Stars Earn More Than Their Marginal Contribution to Welfare," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 154(3), pages 546-, September.
  4. Margaret A. Peteraf & Jay B. Barney, 2003. "Unraveling the resource-based tangle," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 309-323.
  5. Hamlen, William A, Jr, 1994. "Variety and Superstardom in Popular Music," Economic Inquiry, Western Economic Association International, vol. 32(3), pages 395-406, July.
  6. Egon Franck & Christian Opitz, 2002. "Julia Roberts, Tom Hanks & Co: Wie Stars zur effizienten Zuordnung von Filmen auf Filmkonsumenten beitragen," Working Papers 0006, University of Zurich, Institute for Strategy and Business Economics (ISU).
  7. Hausman, Jerry A & Leonard, Gregory K, 1997. "Superstars in the National Basketball Association: Economic Value and Policy," Journal of Labor Economics, University of Chicago Press, vol. 15(4), pages 586-624, October.
  8. Adler, Moshe, 1985. "Stardom and Talent," American Economic Review, American Economic Association, vol. 75(1), pages 208-12, March.
  9. Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-58, December.
  10. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
  11. Weinstein, Mark, 1998. "Profit-Sharing Contracts in Hollywood: Evolution and Analysis," The Journal of Legal Studies, University of Chicago Press, vol. 27(1), pages 67-112, January.
  12. Hamlen, William A, Jr, 1991. "Superstardom in Popular Music: Empirical Evidence," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 729-33, November.
  13. Banerjee, Abhijit V, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 797-817, August.
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  1. The economics of Pop Idol
    by chris dillow in Stumbling and Mumbling on 2006-10-31 14:33:49

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