Economic Foundations for Entertainment, Media, and Technology为了娱乐,传媒的经济基础,技术.pptVIP

Economic Foundations for Entertainment, Media, and Technology为了娱乐,传媒的经济基础,技术.ppt

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EntertainmentandMedia:MarketsandEconomicsProfessorWilliamGreene

EntertainmentandMedia:MarketsandEconomicsSportsProfessorW.Greene

WhatistheMarket?MajorU.S.LeaguesHockeyBaseballFootballBasketballMajorU.S.League:NCAABasketballandFootballSmallerGolfTennisNASCAROthers?International

IssuesRevenueModelsTeamvs.LeagueProfitsandValuationCompetitiveBalanceLaborMarketsandContracting:ConflictingEconomicForcesAntitrustandPublicPolicyTrends:ExistingBusinessesMarkets“Science”(fortheeconomichobbyist)SaberMetricsHothandsBasketballTennis

ScaleTotalIndustrySizeWhatarethecomponents?Howlarge?SubsidiaryIndustries?GamblingLocalAffiliated:ExternalitiesAtleast$100billionintheUS

Revenue“Models”SpectatorSportsvs.StudioSportsExhibition(TVandRadio)Thefaninthestands.Yankees.4.5Mseatssoldat$50/seat.Gateissharedwiththevisitingteam.Playerpayroll=$250M.ThefaninthestandsisnotadequatetodetermineteamprofitabilitySourcesofRevenueforTeamsandLeaguesFansinthestadiumMerchandising,licensing,etc.TVandRadio,InternetRevenuesharingandgatesharingasvisitors

NationalBasketballAssociationPlayersalaries:Approx60%andrising

NationalHockeyLeague2002-2003Combinedrevenueapprox.2.3billionAverageplayersalaryapprox1.9million75%ofgrossrevenuepaidoutinsalariesAggregateloss,300million(onrevenueof2.3billion!)andgettingworse2004:Noseason–lockout2009:Combinedrevenueapprox…2.3B.2012-2013halfseason.LockoutfromOctobertoJanuary.Issue:Players’57%revenueshare.

NationalFootballLeague2009revenue=$6billionLongtermTVcontracts:8years,Fox,CBS,NBC,ESPN,totalapprox17.6billionTV“Pool”approx.$80million/team“Gate”distributed40%toteams,60%totheleagueExtremelysuccessful.

Amateurs?TheNCAANotreDameFootballrightspurchasedfor7yearsbyNBC,$45millionNCAAfootball,8years,$1.725billionFinalFour(MarchMadness)?$100

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