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Part 1: Short Essay (10 points each, 50 points total). Answer the following questions in a short paragraph. Please make sure your answers focus on the economic aspects of each industry. 1. Of all the industries we’ve studied this semester, what makes the music industry unique? 2. How has the gaming industry been impacted by COVID-19? 3. The conventional wisdom in the news industry is that newspaper’s original sin was not charging for news online. Is this true? 4. Describe how the TV industry represents the perfect example of “scarcity to abundance”? 5. What are the specific challenges facing the book publishing industries in the digital age? Part 2: Final essay (50 points). Please answer the following in a 2-page essay. You have been hired by a chain of struggling movie theaters as a consultant. The CEO of the chain has asked you to write a memo outlining your suggestions as to how the company can stabilize theater operations, sustain their place in the windowing model, and best survive the onslaught of streaming platforms. In answering the questions a student must: 1) identify current economic issues in each entry of the film industry’s windowing model; 2) offer proposal(s) that takes into account the current conditions of the film industry; 3) defend the proposal(s).
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