Media Economics: Research Paradigms, issues, and Contributions to Mass Communication Theory

The field of media economics has mushroomed recently, highlighted by the introduction of the Journal of Media Economics, an expanding literature base, and wider interest among academicians. In this article, I examine the main research paradigms, issues facing the field, and contributions to the larger body of mass communication theory. I also argue that media economics has made at least 4 major contributions to the communication literature. It (a) provides a means to understand media as economic institutions; (b) helps further understanding of continual globalization of media industries; (c) provides a diverse alternative to mainstream mass media; and (d) offers an interdisciplinary focus to contemporary mass communications research.