Anderson, Simon P.; Gabszewicz, Jean J. - In: Handbook of the economics of art and culture : volume 1, (pp. 567-614). 2006
incurred for these media. They are also mainly supported by advertising revenue. Early work stressed possible market failures …Media industries are important drivers of popular culture. A large fraction of leisure time is devoted to radio …, magazines, newspapers, the Internet, and television (the illustrative example henceforth). Most advertising expenditures are …