2023 Articles

Digitization and the Value of Intermediaries in the Market for News

George, Lisa M.

This short paper presents an economic perspective on factors that shape the market for news in the digital age. Using standard economic concepts of supply, demand, and competition, I offer ways of thinking about the value and impact of search, aggregation, and social networks in the market. I extend these ideas to discuss how royalty payments from platforms to publishers can alter incentives for market participants, with the potential for unintended consequences. The paper synthesizes ideas presented at the 2022 Symposium of the Kernochan Center for Law, Media and the Arts.