Lecture 9

Industry Analysis - The Impact of the Internet on the Newspaper Industry

Detailed lecture notes are on the PowerPoint slides
Be sure to check the slides for examples and sources for the Group project

  • Information goods
    • Economic characteristics: non-rivalrous, high production costs, low marginal costs etc.
    • Atoms, bits and wetware
    • Experience goods: branding, reputation, sampling
    • Costs of producing and transmitting - rise of UGC
      • Camcorders, video editing software, camera phones
    • Cost of attention remains high
    • Value of location
    • Pricing and versioning information
      • Price discrimination
  • Information Businesses
    • Music
    • Movies
    • News
    • Narrowcasting
    • Winner take all markets
    • Why is there so much pornography on the internet?
    • Issues
      • Piracy and rights management
    • New technology
      • Internet TV
  • Impact of the internet on information businesses
    • Impact on costs
    • Pricing and versioning information
      • Price discrimination
  • What it means to analyze an industry
    • What an industry is
    • Analytical tools
  • How to do industry research
  • Example of Industry Analysis - The newspaper industry and the internet
    • Impact on newspaper economics, barriers to entry and competition
    • Unravelling of the business model - classifieds
    • Citizen journalism
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