Media Economics in Austria: A Comparison to Germany on Print, Television, Radio and the Internet

Preface
Contents
About the Author
1 A First Step Into the Subject
	1.1	What are Media?
		1.1.1	In the Beginning, There was the Book
		1.1.2	The Mass Media
		1.1.3	Different Interests
	1.2	What is Information?
		1.2.1	The Journalistic Forms of Presentation
		1.2.2	The Informative Form of Presentation—Objective and Value-Free
			1.2.2.1 The Short Message
			1.2.2.2 The News Item
			1.2.2.3 The Report
		1.2.3	Informative Forms—Subjectively Evaluative
			1.2.3.1 The Reportage
			1.2.3.2 The Interview
			1.2.3.3 The Portrait
			1.2.3.4 The Feature
		1.2.4	Opinion-Expressing Forms
			1.2.4.1 The Leading Article
			1.2.4.2 The Commentary
			1.2.4.3 The Gloss
	1.3	What is Media Economics?
		1.3.1	What is a Market?
		1.3.2	The Macroeconomic Level
		1.3.3	The Microeconomic Level
		1.3.4	Challenges of Media Economics
	1.4	Supply and Demand
		1.4.1	The Elasticity of Demand
		1.4.2	Economies of Scale Industry
		1.4.3	Costs and Profit in Perfect Competition
		1.4.4	Costs and Profit in Monopoly
		1.4.5	Essential Difference between Both Models
	1.5	The Functions of Media
		1.5.1	Core Functions in a Democratic Society
		1.5.2	Functions for Core Areas in Society
	1.6	Media & Politics
		1.6.1	Politics Needs the Media
		1.6.2	The Media Needs Politics
	1.7	How Media is Financed
		1.7.1	Financing Through Advertising
		1.7.2	Funding from Subscribers
		1.7.3	Funding from Fees
		1.7.4	Funding from Donations
	1.8	What is the Dual System?
		1.8.1	Precise Definition of Terms
		1.8.2	Structure of Public Service Broadcasters
		1.8.3	Structure of Private Broadcasters
	1.9	Media Criticism
		1.9.1	The History of Media Criticism
		1.9.2	Media Criticism in the Internet Age
	References
2 Print Media
	2.1	The Development of Newspapers
	2.2	The Newspaper Market at a Glance
		2.2.1	The Situation in Germany
		2.2.2	The Situation in Austria
	2.3	The Value Chain of Newspapers
	2.4	The Separation Principle
		2.4.1	Problem of Articles Disguised as Advertising
		2.4.2	What Does This Mean for Journalistic Practice?
	2.5	Challenges for Newspapers
		2.5.1	Changed Media Usage
		2.5.2	The Internet as a Solution Approach
	2.6	Processes in Newspaper Production
		2.6.1	Workflow in the Editorial Office
		2.6.2	Workflow for Daily Newspapers
	2.7	The Empirical Press Economy
	2.8	The Competitive Situation
	2.9	The Cost Structure
	References
3 Television
	3.1	The History of Television
	3.2	Television Production
		3.2.1	In-house Production
		3.2.2	Contract Production
		3.2.3	Third-Party Production
		3.2.4	Co-Production
		3.2.5	Special Case: User Generated Content
	3.3	Television Advertising
		3.3.1	History
		3.3.2	The Placement of Advertising
		3.3.3	The Cost of Television Advertising
		3.3.4	Essential Elements of Media Planning
		3.3.5	Development of the Advertising Market
		3.3.6	The Relationship Between Media and Advertising
		3.3.7	The Ad-Circulation Spiral
		3.3.8	The Reach
		3.3.9	How Is the Audience Rating Measured?
		3.3.10	The CPM
		3.3.11	Future Trend Addressable TV
	3.4	The Value Chain for Films and Film Rights
		3.4.1	The Value Chain for the Television Market
			3.4.1.1 The Extended Value Chain for the Television Market
			3.4.1.2 Program Production
			3.4.1.3 Programming
			3.4.1.4 The Distribution/Program Distribution
	3.5	The Streaming Market
		3.5.1	What Is Streaming?
		3.5.2	Business Models
		3.5.3	Ad-Supported Streaming
		3.5.4	Paid Streaming
		3.5.5	Digitalization of Television
		3.5.6	The Role of Demographic Change
		3.5.7	Individual Usage
		3.5.8	Influence Factor Globalization
		3.5.9	Television and Streaming Become One
		3.5.10	The Competition in the Streaming Market
		3.5.11	How the TV Industry Can Adapt to This Change
	3.6	TV as an Economic Driver During the Pandemic
		3.6.1	Competition Situation in Electronic Markets
		3.6.2	The Future Development in the Sector
	3.7	The Television License
		3.7.1	The History
		3.7.2	The GIS Fees Info Service GmbH (Austria)
			3.7.2.1 The Procedure
			3.7.2.2 The Bad Reputation of GIS
		3.7.3	The Broadcasting Contribution in Germany
	References
4 Radio
	4.1	The History of Radio
	4.2	An Overview of the Radio Market
		4.2.1	Radio Market Germany
		4.2.2	Radio Market Austria
	4.3	The Value Chain in the Music Market
		4.3.1	Common Practice
		4.3.2	Basics of the Music Industry
		4.3.3	The Music Labels
			4.3.3.1 The Major Labels
			4.3.3.2 Independent Labels
	4.4	Radio Management
		4.4.1	Strategic Objectives
		4.4.2	The Program Formats
		4.4.3	Basic Considerations for Positioning
		4.4.4	Niche Positioning
		4.4.5	Economic Framework Conditions
		4.4.6	Market-relevant Data for Radio Stations
		4.4.7	Criteria for Station Selection
		4.4.8	The USP
	4.5	Radio Advertising
		4.5.1	History
		4.5.2	The Placement of Advertising
		4.5.3	What Radio Advertising Costs
		4.5.4	Daily Progression of Advertising Costs
	4.6	The Future of Radio
		4.6.1	Current Threats to Radio
		4.6.2	Radio Needs New Distribution Channels
		4.6.3	The Future of Radio Remains Exciting
	References
5 The Internet
	5.1	The History
	5.2	Digital Economy & Monopolies
	5.3	Digital Media
		5.3.1	What Types of Digital Media are There?
		5.3.2	Three Types of Digital Media
	5.4	Online Journalism
		5.4.1	The Opportunities of the Internet
		5.4.2	Online Displaces Print
		5.4.3	Forms of Presentation in Online Journalism
		5.4.4	Willingness to Pay for Online Journalism
			5.4.4.1 The Young Ones Lead the Way
			5.4.4.2 Quality Must Be Right
			5.4.4.3 Paying with Data
	5.5	Social Media
		5.5.1	What Exactly is Social Media?
		5.5.2	Types of Social Media
		5.5.3	Social Media as an Opportunity for Journalists
		5.5.4	Social Media as a Threat to Journalism
		5.5.5	What the Research Says
	5.6	Advertising on the Internet
		5.6.1	The Website
		5.6.2	Social Media and Online Marketing
		5.6.3	Influencer Marketing
		5.6.4	Advertising on Facebook
		5.6.5	Advertising on YouTube
		5.6.6	Videos as an Opportunity
		5.6.7	Banner Advertising
		5.6.8	Search Engine Advertising
		5.6.9	Email Marketing
		5.6.10	Affiliate Marketing
	5.7	The Future of Online Media and Journalism
		5.7.1	The Importance of Artificial Intelligence
		5.7.2	The New Workplace
	References
6 Conclusion