Economics of Joint Production and Implications for the Media and Cultural Industries

The Necessity of Application and Research

Authors: Min Hang and Robert Picard

Citation

Hang, M. & Picard, R. (2019). Economics of Joint Production and Implications for the Media and Cultural Industries: The Necessity of Application and Research. Journal of Creative Industries and Cultural Studies–JOCIS3 (1), 90–103.

Abstract

This article addresses an issue of joint production arising from the media and cultural industries. Joint production is a production process that yields two or more products simultaneously. In the media and cultural industries, the application of digital technology has made it possible for producers to generate products both online and offline, therefore, a common production process can yield an outcome for multiple platforms. This changing feature has brought with it many implications – from the managerial perspective, it has altered economic rationales guiding managers’ decision making on whether or not to cease production on the traditional platforms. The current study explores why different types of analysis are required in the joint production. This study introduces the concepts of shut-down, split-off and tipping points that need to be considered. The authors also propose an approach of timeline analysis that may move the investigation of joint production forward for the next steps.

Keywords

Media and Cultural Economics, Joint Production and Products, Shut-Down Point, Split-Off Point, Timeline Analysis.