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CONTEMPORARY AND FUTURE RESEARCH ISSUESIssues gaining attention of scholars of media economics have tended to be contemporaryto their times seeking to explore or answer questions raised by industry developments.Concerns in the early days of the field resulted from the appearance of cable and satelliteservices and their effects on broadcasting and on the decline of the newspaper industry.As time progressed, issues of deregulation, internationalization, and the appearance ofnew media became more significant.Research in media economics today is being driven by massive changes in the nature ofcommunications and the operations of communications systems and firms. Much of theresearch results from or focuses on changes in markets, changes in technology, changesin competition, increasing trade in communications products and services, capital flowinto related industries, and changes in ownership.The issues of changing markets result from alterations in the location and size ofmarkets for communications products and services. Worldwide we are witnessing re-alignment and expansion of existing markets and the breakdown of traditional nationalmarkets. As a result, we are seeing the establishment of natural markets based on re-gional, continental, and global communications with less emphasis on the role of thenation-state in the markets. Two results of this change are that traditional public pol-icy approaches to communications are becoming less effective and nationally basedindustrial organizational analyses are not as useful as when geographic market bound-aries were clearer.A great deal of change in communications is resulting from changing technologiesand questions raised about those changes. The integration of telephone, computing, andbroadcast technologies is changing the means of production and distribution of com-munications products and services by providing flexible, integrated, and multichannelcapabilities. These changes raise significant questions about demand for technologies, 32 PICARD distribution of and access to technologies, and the economic and social impact of theseemerging and coordinated technologies. Difficulties of establishing workable marketsand business models for mediated communications on the Internet, high definition anddigital terrestrial television, and mobile content services all raise important avenues forinquiry.
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