Wayne Fu, Nanyang Technological University

This article reviews the application of the Industrial Organization (10) framework of Structure-Conduct-Performance (S-C-P) in media market research. The constructs and premises of this economic model are restated, and the orthodox economic notions of market performance and the logic that underlies the model are clarified. Alongside these elucidations, this article discusses common conceptualizations and interpretations found in media market studies. Media issues such as content diversity and media concentration, which are often studied through the S-C-P approach, are also re-examined. These deliberations are intended to contribute toward a more consistent framework for the study of media industries and markets.

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