Entertainment Industry Economics

Vogel, Harold L.

doi:10.1017/cbo9780511510786

Cited by 124 publications

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“…However, these variables were not used in this study because such data were not available for all CDs.14 Goldman (1983) stated that ''nobody knows anything'' to express how difficult it is to forecast box office revenues. In addition,Vogel (2004) pointed out that there is greater uncertainty regarding success in the music industry than in the motion picture industry.…”

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confidence: 99%

Demand analysis of hit music in Japan

Asai

2011

J Cult Econ

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confidence: 99%

Demand analysis of hit music in Japan

Asai

2011

J Cult Econ

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“…In practice, conventional contracts involve time-dependent revenue sharing (i.e., a sliding, increasing percentage of revenues to exhibitors) after allowance for exhibitors' expenses. But recently, some studios and exhibitors have begun to implement "aggregate settlement," a simple revenue split without sliding scales (Vogel 2007). Our model can serve as a reasonable approximation for that scenario.…”

Section: Discussion and Concluding Remarksmentioning

confidence: 97%

“…for class L. We focus our study on the parameter region where γ m > γ d is satisfied so that the inherent quality of the theatrical experience is higher than the video (Vogel 2007). For example, going to the theater can be thought of as a complementary event that includes viewing the film and thus carries a higher quality.…”

Section: Model and Consumer Market Equilibriummentioning

confidence: 99%

“…Another option that studios may consider to alleviate theater owners' concerns is to implement revenue sharing for video sales with theater owners, which has also been suggested by 2929 Entertainment (Grover 2006). In addition, one ancillary benefit of using a day-and-date tactic relates to advertisement costs, which amount to half of the total production cost on average (Vogel 2007). When a studio releases a film's video a few months after being released in theaters, it must once again incur additional advertising expenditures.…”

Section: Propositionmentioning

confidence: 99%

“…Disney CEO Robert Iger even comments that a film should be released faster on digital video since it has "... more perceived value to the consumer because it's more fresh" (Marr 2005); perhaps not surprisingly, Disney announced an early video release of Alice in Wonderland only 12.5 weeks after its theatrical release instead of the typical 16.5 weeks at the time (Smith and Schuker 2010). Vogel (2007) predicts that further changes in studios' sequential distribution strategies will continue to occur; as a result, there is a strong need for new research aiming to provide a better understanding of these strategies.…”

Section: Introductionmentioning

confidence: 99%

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Optimal Timing of Sequential Distribution: The Impact of Congestion Externalities and Day-and-Date Strategies

2011

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The window between a film's theatrical and video releases has been steadily declining with some studios now testing day-and-date strategies (i.e., when a film is released across multiple channels at once). We present a model of consumer choice that examines trade-offs between substitutable products (theatrical and video forms), the possibility of purchasing both alternatives, a congestion externality affecting consumption at theaters with heterogeneous consumer groups, and a decay in the quality of the content over time. Our model permits a normative study of the impact of shorter release windows (0-3 months) for which there is a scarcity of relevant data. We characterize the market conditions under which a studio makes video release time and price selections indicative of direct-to-video, day-and-date, and delayed video release tactics. During seasons of peak congestion, we establish that day-and-date strategies are optimal for high quality films with high content durability (i.e., films whose content tends to lead consumers to purchase both alternatives) whereas prices are set to perfectly segment the consumer market for films with low content durability. We find that lower congestion effects provide studios with incentives to delay release and price the video to induce multiple purchasing behavior for films with higher content durability. However, an increase in congestion effects can, in certain cases, actually lead to higher studio profitability. We also show that, at the lower range of quality, an increase in movie quality should often be accompanied by a later video release time. Surprisingly, however, we observe the opposite result at the upper range of movie quality: an increase in quality can justify an earlier release of the video.

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Media Management

Küng¹

2008

The International Encyclopedia of Communication

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The core task of media management is to build a bridge between the general theoretical disciplines of management and the specificities of the media industry. Media management is, however, neither a clearly defined nor a cohesive field but rather a loose agglomeration of work by researchers from various scientific fields. The syllabi from the rash of media management courses that have sprung up over the past decade all over the world exhibit very few commonalities, and an enormously diverse range of theories, topics, and core readings. Notable is that very few of these courses stem from management or business schools. The majority come from mass communications and journalism or economics institutions (Küng 2007).

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Entertainment Industry Economics

Cited by 124 publications

References 0 publications

Demand analysis of hit music in Japan

Demand analysis of hit music in Japan

Optimal Timing of Sequential Distribution: The Impact of Congestion Externalities and Day-and-Date Strategies

Media Management

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