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Podcast episode

EP94 – Economics of New Media

Episode 94 of Economics Explored (EP94 Economics of New Media) explores how people are making money in the rapidly growing new media or independent media sector. While the internet and social media have badly affected traditional media, they have led to the emergence of a rapidly growing new media or independent media sector.

For instance, leading podcaster Joe Rogan was reportedly paid $100 million to move his hugely popular podcast to Spotify. And independent journalists like Matt Taibbi, Bari Weiss, and Krystal Ball and Saagar Enjeti are making decent livings through Substack and Patreon subscriptions and via revenue from YouTube. It appears there’s big money for the top talent in new media, which is great news. It’s starting to look like that, to some extent, the market really can support independent and high-quality news and opinion.

Chatting about the economics of new media with host Gene Tunny in EP94 is a new media start up founder, Matt Wong of Discernable, who is based in Melbourne, Australia, and is doing great things on various new media platforms. His Discernable program which you can watch on Facebook or YouTube, provides a fresh perspective on current affairs in Australia.

Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple PodcastsGoogle Podcast, and other podcasting platforms.

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Podcast episode

EP67 – Regulating Big Tech

It’s been a challenging year 2020, but one positive development is that regulators in the US and Australia have started challenging the Big Tech companies Google and Facebook over alleged misuses of market power. The US Department of Justice is taking on Google over its search dominance and the Federal Trade Commission is taking on Facebook over allegedly restricting competition by buying up potential competitors such as Instagram and WhatsApp. In Australia, the Media Bargaining Code designed to assist traditional media companies negotiate for a share of ad revenue with Big Tech is currently being considered by a Senate committee. In my latest Economics Explored podcast episode Regulating Big Tech, I provide an update on moves by governments and regulators, and I discuss the relevant economic concepts and policy issues.

Links relevant to the conversation include:

Joseph Stiglitz on Regulating Big Tech

Don’t Be Evil: The case against big tech by Rana Foroohar

Australian Treasury Laws Amendment (News Media and Digital Platforms Mandatory Bargaining Code) Bill 2020

Economics Explored EP58: Tech Giants challenged by the Media and Governments

Economics Explored EP22: Antitrust with Danielle Wood from the Grattan Institute

Economics Explored EP21: Surveillance Capitalism with Darren Brady Nelson

Economics Explored EP16: Big Economic issues for the 2020s