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Do Magazines' "Companion Websites" Cannibalize the Demand for the Print Version?

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  • Kaiser, Ulrich
  • Kongsted, Hans Christian

Abstract

We analyze the relationship between website visits, magazine demand and the demand for advertising pages using Granger non-causality tests on the ba- sis of an extensive and externally audited quarterly data set for the German magazine market spanning the period I/1998 to II/2004. We use traditional panel data estimators and an estimator suitable for heterogeneity across mag- azines. We find very robust evidence for positive effects from website visits to circulation. There is no evidence of causality running in the opposite direction. Our findings are contrary to the widespread belief that the Internet will cannibalize print media markets.

Suggested Citation

  • Kaiser, Ulrich & Kongsted, Hans Christian, 2005. "Do Magazines' "Companion Websites" Cannibalize the Demand for the Print Version?," ZEW Discussion Papers 05-49, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:4275
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    References listed on IDEAS

    as
    1. Matthew Gentzkow, 2006. "Valuing New Goods in a Model with Complementarities: Online Newspapers," NBER Working Papers 12562, National Bureau of Economic Research, Inc.
    2. repec:bla:jindec:v:49:y:2001:i:4:p:541-58 is not listed on IDEAS
    3. Arellano, Manuel, 2003. "Panel Data Econometrics," OUP Catalogue, Oxford University Press, number 9780199245291.
    4. Lapo Filistrucchi, 2005. "The Impact of Internet on the Market for Daily Newspapers in Italy," Economics Working Papers ECO2005/12, European University Institute.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ralf Dewenter & Ulrich Kaiser, 2006. "Horizontale Fusionen auf zweiseitigen Märkten am Beispiel von Printmedien," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 7(3), pages 335-353, August.
    2. Nagler Matthew G., 2007. "Understanding the Internet's Relevance to Media Ownership Policy: A Model of Too Many Choices," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(1), pages 1-28, June.
    3. Mohamed Benabid, 2016. "Entre capacité et crise transformationnelle, proposition d'une conceptualisation pour l'industrie de la presse en ligne," Post-Print halshs-01860059, HAL.
    4. Elena Argentesi & Lapo Filistrucchi, 2007. "Estimating market power in a two-sided market: The case of newspapers," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(7), pages 1247-1266.
    5. Ramboll & The Evaluation Partnership & Europe Economics, 2015. "Economic Study on Publications on all Physical Means of Support and Electronic Publications in the context of VAT," Taxation Studies 0057, Directorate General Taxation and Customs Union, European Commission.
    6. Stühmeier, Torben, 2011. "Das Leistungsschutzrecht für Presseverleger: Eine ordnungspolitische Analyse," DICE Ordnungspolitische Perspektiven 12, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    7. Lapo Filistrucchi, 2005. "The Impact of Internet on the Market for Daily Newspapers in Italy," Economics Working Papers ECO2005/12, European University Institute.
    8. Simon, Daniel H. & Kadiyali, Vrinda, 2007. "The effect of a magazine's free digital content on its print circulation: Cannibalization or complementarity?," Information Economics and Policy, Elsevier, vol. 19(3-4), pages 344-361, October.

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    More about this item

    Keywords

    Granger causality; heterogeneous panel data models; Mean Group Estimation; website visits; magazine circulation;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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