Media

We find that an increase in the "unusualness" of news with negative sentiment predicts an increase in stock market volatility. Similarly, unusual positive news forecasts lower volatility. Our analysis is based on more than 360,000 articles on 50 large financial companies, published in 1996–2014. Unusualness interacted with sentiment forecasts volatility at both the company-specific and aggregate level. These effects persist for several months. Furthermore, unusual news is reflected in volatility more slowly at the aggregate than at the company-specific level.

Media economics provides a basis for Eli Noam in setting out the logic behind a series of expectations he shares about how the transition from regular linear TV to online video will lead to major changes in culture, politics, and society. His perspective on the dramatic implications of this shift suggests comparisons with the fundamental changes brought about by the introduction of first-generation TV over seventy years ago, with both exciting advances and also disturbing problems.

The ongoing convergence of technology, media, and telecommunications has not only transformed the media industry, but also the management practices. This chapter outlines specific challenges for the management of media companies and discusses what convergence means from the perspective of managing media firms.

We use five years of bidding data to examine the reaction of advertisers to widely disseminated press on the lack of effectiveness of brand search advertising (queries that contain the firm's name) found in a large experiment run by eBay (Blake, Nosko and Tadelis, 2015). We estimate that 11% of firms that did not face competing ads on their brand keywords, matching the case of eBay, discontinued the practice of brand search advertising.

In May 2013 Nicolas Beytout launched L’Opinion, a news organization that published a daily newspaper, with a robust digital presence. L’Opinion was opinion-focused, with Libéral economic thought pieces and analysis at the heart of its content. The media industry had changed drastically in the decade preceding, with brutal competition among the traditional media and new entrants like the platforms Google and Facebook. The political environment was also a moving target, with anti-European nationalism on the rise.

What does it take for success in the media business? Creativity, innovation, and performance, of course. Plus experience and good judgment. However, it also requires an understanding of the principles and tools of management. This book summarizes the major dimensions of a business school curriculum and applies them to the entire media, media-tech, and digital sectors. Its chapters cover—in a jargonless, non-technical way—the major management functions.

Being a successful manager or entrepreneur in the media and digital sector requires creativity, innovation, and performance. It also requires an understanding of the principles and tools of management. Aimed at the college market, this book is a short, foundational volume on media management. It summarizes the major dimensions of a business school curriculum and applies them to the entire media, media-tech, and digital sector. Its chapters cover—in a jargonless, non-technical way—the major functions of management.

In this article, we provide a descriptive account of how people from different generations vary in their use of financial management technology, their access credit markets, and how they finance consumption and incur financial costs and penalties. We use a detailed panel of transaction-level data from Iceland on individual spending, incomes, balances, and credit limits from a personal financial management software. We find that technology adoption is faster for millennials, but use of consumer credit and financial penalties are higher for older generations.

Advances in information technology have enabled consumers to connect and communicate as they never have before. This chapter conceptualizes information and the digital machines that enable contemporary connection and communication as being part of a “Moveable Feast.” A brief historical review tracing the impact and evolution of information technology on consumers’ lives and the marketplace is first provided.