This chapter focuses on the economic mechanisms at work in recent models of advertising finance in media markets …, and to clarify the conceptual aspects. The chapter first develops a canonical model of two-sided markets for advertising … advertising markets, and concrete issues such as congestion and second-degree discrimination. The second part is devoted to recent …

. Platforms compete for consumers and advertisers. A platform earns a premium from advertising to singlehomers, as it is a …

, accounting for multi-homing helps to recognize complementarity between products; on the advertising side, it allows to measure to … what extent advertising demand depends on the shares of exclusive and overlapping readers. …

, accounting for multi-homing helps to recognize complementarity between products; on the advertising side, it allows to measure to … what extent advertising demand depends on the shares of exclusive and overlapping readers. …

, magazines, newspapers, the Internet, and television (the illustrative example henceforth). Most advertising expenditures are … incurred for these media. They are also mainly supported by advertising revenue. Early work stressed possible market failures … sides are coordinated by broadcasters (or “platforms”) that choose ad levels and program types, and advertising finances the …

competition "either or both." A central result is that platform ownership does not affect advertising levels, despite nontrivial … viewer fees. We show that the equilibrium advertising level is inefficiently high. We also demonstrate that entry of a … platform leads to an increase in the advertising level if viewers' preferences for the platforms are negatively correlated …

of consolidation on advertising prices and quantities). The remaining parts survey the literature on whether there are … too many radio stations; the strategies that stations use to boost the effectiveness of advertising; the effects of non …