This is the first non-specialist introduction to the economics of the contemporary film and television business. This global industry is significant both financially and culturally, and the political economy of its trade is an extremely sensitive issue. Are cultural goods merely entertainment goods? And why does the US dominate this territory? The present volume offers a systematic, structured explanation of how the global markets for TV and film operate while also discussing the implications for public policy and business strategy. By listing in detail the economic and cultural characteristics related to such trade, the authors provide the tools necessary for the evaluation of international communications issues. They also stress the uniqueness of cultural products and put forth the argument that the economic and cultural development approaches to cultural issues can be largely reconciled.