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Tylor Orme

While the video games industry is a relatively recent addition to the creative industries, its history, market structure and unique reactions to increasing digitization make it a growing area of study within cultural economics. In particular, as the video game industry has grown to rival the size of the film and music industries it has attracted significant attention from researchers seeking new avenues through which to analyse traditional cultural economic issues in a new context. This chapter investigates some of the major economic factors influencing the industry by looking at the history and structure of the video games industry, as well as analysing how digitization has shaped the industry in recent years.

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Tylor Orme and Darlene C. Chisholm

This chapter provides a framework for introducing the economics of film to students new to the field. The authors organize the presentation around the pre-cinematic stages of development, production and distribution. The development stage is characterized by a high degree of uncertainty; production costs entail significant economies of scale; and distribution strategies are influenced by the experience-good nature of films. Suggested classroom exercises and essay questions draw on students’ experiences as movie-goers, and on widely available data on motion-picture financial success. Exercises include predicting a film’s success, based on key film characteristics, such as director, actor and sequel status; essay questions explore the significance of asymmetric information between studios and consumers on a film’s quality.

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Tylor Orme and Darlene C. Chisholm

This chapter provides a framework for introducing the economics of cinema to students new to the field. The authors focus their discussion on cinematic exhibition and post-cinematic release strategies and platforms. The financial performance of a film during its theatrical run is subject to the long-tail phenomenon: relatively few films are ‘blockbuster’ hits in the cinema. The experience-good nature of films influences a studio’s cinematic release strategy. Studios use windowing strategies for releasing films in cinemas, and via other channels, including digitally, through subscription services and video on demand. The authors present the concept of price discrimination, and the significance of digital piracy, in this context. Suggested classroom exercises and essay questions draw on students’ familiarity with viewing film content both in cinemas and via digital platforms.