Entertainment Industry Economics: A Guide for Financial Analysis Hardcover – 23 Apr 2007
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This seventh edition has been further revised and broadened and differs from its predecessors by restructuring and repositioning the Internet chapter, including new material on the economics of networks and advertising, adding a new section on policy implications, and expanding the section on recent theoretical work pertaining to box-office behaviour.
About the Author
Harold L. Vogel is the author of Travel Industry Economics: A Guide for Financial Analysis (Cambridge University Press, 2001), a companion volume to this textbook. He was senior entertainment industry analyst at Merrill Lynch & Co. for 17 years and was ranked as top entertainment industry analyst for a record 10 years by Institutional Investor magazine. A chartered financial analyst, he formerly served on the New York State Governor's Motion Picture and Television Advisory Board and as adjunct professor of media economics at Columbia University's Graduate School of Business. Mr Vogel frequently writes and speaks on investment topics related to entertainment and media, leisure, and travel and currently heads an independent investment firm in New York City.
Most Helpful Customer Reviews on Amazon.com (beta)
My complaint is that the section on The Music Industry is not up to date. It is a treatise on the Recorded Music industry only, and neglects the live music concert industry.
His coverage of live popular music entertainment is literally one paragraph. The live concert industry is now one of the main revenue sources for musical artists, in addition to licensing. The concert industry generates over $10 Billion in revenues from live music performance tickets alone. Live Nation and AEG Live dominate. Madonna signed with Live Nation and not a traditional record label because this is now the focal point of the music industry. Contrary to Mr. Vogel's outdated assertion, recorded music is now often a promotional tool used to get fans to buy concert tickets. This has been the case for nearly a decade.
For example, there's a flowchart that explains royalties in the music industry that explained in one glance what would normally require personal discussions with five or ten people to uncover.
There is also information on valuation models and accounting treatments of the industries studied.
Some reviewers called this book dry - but I think the writing is compact, objective, and informative. Also, there are extensive footnotes and references to other sources.
Academic rigor, an analyst's objectivity and practicality, and an underlying enthusiasm for the subject - excellent.