Comparing the study of digital media economics, with another subject like engineering, what has become clear to me is that in media industry, anything is but clear. That makes it more challenging and exciting at the same time. And hopefully I can summarize the views from a few different perspectives in a few simple words:… [Read more…]
November 26, 2009
In the past few weeks, we have learned a lot about dramatic changes that have been taking place in the age of digital media. From the free model to peer production, we seen wealth of information created, as a result of the liberating power of the Internet. But often we question whether the expansion of… [Read more…]
November 19, 2009
Our small group (Vera, Pei-Chieh, Michelle) had an interesting discussion last night. We started by asking, if “free” is the better model, then how is it economically sustainable in the long run? In other words, if the Microsoft’s of the world will ultimately lose to free peer production, where would all the paying jobs go?… [Read more…]
November 5, 2009
Do you know Gillette’s razor heads are the most shoplifted product in the UK? It was so bad, not only the package is protected by electronic tag, some stores also installs monitoring system that automatically activates when the product is removed from the shelf. A pack of eight razors costs £18.53, that’s almost $30! A… [Read more…]
October 30, 2009
When I first graduated from engineering, I was fortunate to work for a telecom giant. It was the number 4 equipment manufacturer in the world, and the president told us the goal was to be number 3 next year (which we did). As new hires, we had training, great opportunities, and a lot of fun.… [Read more…]
October 22, 2009
We all agree that change is taking place in digital media. What surprised me the most is how our fear for loss sometimes overshadows joy for new opportunities. Looking at the model again: Facilitation Cost / Aggregate Value Facilitation method is being revolutionized, facilitation cost is going down, way down. So any business and career… [Read more…]
October 16, 2009
Economic theory is based on supply and demand. A change in supply, which could be a change in the value of any key determinants such as the price of inputs, the state of technology, and the number of suppliers, causes the equilibrium price to change (Media Economics, 48-50). In the case if digital media, those… [Read more…]
October 8, 2009
If there is one word to capture the state of economics in digital communication, a lot of people would probably think of “free”. For me, the word is “change”. There are a lot of different opinions about what is going on, and what is about to happen. Surely, a lot has already happened. Many years… [Read more…]
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December 10, 2009
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