Renovating Media Economics

The two perspectives that dominate our understanding of media economics ‑ neoclassical, or mainstream, media economics and critical political economy of the media ‑ are the reigning orthodoxies of the field. They are, however, so divergent in many ways (including their objects of analysis, their methodologies and their founding assumptions) that a conscientious student of media, cultural or communication disciplines may find that such intellectual polarisation makes it difficult to come to grips with media economics.  This at a a time when leading figures in both political economy and cultural studies, such as Nicholas Garnham and Larry Grossberg, have been arguing the need for critical humanities scholars to develop a more nuanced understanding of dominant economic discourses.

Economics as a discipline is more diverse that it is generally viewed as being from the outside, and more contested than the dualism of neoclassical orthodoxy and its radical critics captures. Moreover, new developments in media industries, markets and practices are stretching the capacity of the established paradigms. In this seminar, Stuart Cunningham and Terry Flew contend there are schools of economic thought  in particular institutional and evolutionary economics – that have rarely been applied to the media, but which may help us in dealing with the ‘new realities’ in the economics of media today. The presentation is based on their forthcoming book from Palgrave, Media Economics (co-authored with Adam Swift). 

Date: Friday 24th October, 2014

Time: 15:30-17:00

Location: S226 Seminar Room, Department of Media and Communications, University of Sydney, John Woolley Building (A20) level 2, entry off Manning Road.

Stuart Cunningham is Distinguished Professor of Media and Communications, Queensland University of Technology. His current research focuses on digital transformations of the screen sector. This will be pursued as a Fulbright Senior Scholar in 2014-15. His most recent books are Digital Disruption: Cinema Moves Online(edited with Dina Iordanova, 2012), Key Concepts in Creative Industries (with John Hartley, Jason Potts, Terry Flew, John Banks and Michael Keane, 2013), Hidden Innovation: Policy, Industry and the Creative Sector(2013), Screen Distribution and the New King Kongs of the Online World (with Jon Silver, 2013), The Media and Communications in Australia (with Sue Turnbull, 2014).

Terry Flew is Professor of Media and Communication in the Creative Industries Faculty at the Queensland University of Technology, Brisbane, Australia. He is the author of six books, 13 research monographs, 41 book chapters, and 72 refereed academic journal articles, and has been an editor of 12 special issues/themed sections of academic journals and refereed conference proceedings. His books include New Media: An Introduction (Oxford), which had its Fourth Edition published in 2014, Media Economics (2015, forthcoming), Creative Industries, Culture and Policy (Sage 2012), Global Creative Industries (Polity 2013), and Understanding Global Media (Palgrave 2007). He is the founding editor of Communication Research and Practice, to be published by Taylor & Francis (commencing in 2015). He has been engaged in current and recent ARC-funded projects on politics, the media and democracy in Australia, social media and crisis communication, the outer suburban creative workforce, citizen journalism in Australia, and creative industries in China. He is a member of the Australian Research Council College of Experts for Humanities and Creative Arts, and was a member of the Expert Reference Group for the 2012 ERA round. During 2011-12, he headed a review of the National Classification Scheme for the Australian Law Reform Commission (ALRC).

Media@Sydney is presented by the 

For more information contact
Dr Fiona Martin 
T: 0428391122 or 02 90365098 
M: 0428 391 122

Friday, 24 October 2014 - 3:30pm to 5:00pm
S226 Seminar Room, Department of Media and Communications, University of Sydney
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