'Its scope and learning are brilliant and dazzling.' - Eli Noam, Columbia Business School *'New quotation to come'* - How did The New York Times transform its organisation for the digital age? - How does Netflix drive performance through culture? - Why did Disney struggle to find a CEO to replace Bob Iger? - How did the BBC drive equal gender representation in its news programmes? The media industry is developing furiously and fast, and its organisations face unprecedented levels of transformation and challenge. This fully revised third edition of the classic textbook on strategy in the media: * Explores key shifts in the strategic environment including the digital platforms, streamed media, the creator economy, the metaverse and generative AI. * Explains key concepts in strategic management with insight and clarity. * Applies all theories to the sector, illuminating all dimensions of the strategic task, from understanding competition and building core competencies to driving innovation, shaping culture and finding the right leadership approach. * Takes readers deep into innovation, disruption and strategic adaptation in action with an expanded set of new cases on a diverse range of global companies from Scandinavia to South Africa. * Provides new 'Resources' and 'Questions' sections to guide readers' further study and support classroom learning. Lucy Kung has again written the essential guide to strategy and management in the media industry. This is the ideal text for students of media studies, media economics and media management. Professor Lucy Kung is an expert on strategy, innovation and leadership and focuses on successful responses to the challenges of digitalization. She is Senior Visiting Research Associate at the Reuters Institute, Oxford University, and Non-Executive Board Member of the NZZ Media Group and formerly of Swiss PSM broadcaster SRG and VIZRT, the media tech provider. She has held professorships at the University of Oslo, the Institute for Media and Entertainment New York (IESE) and the University of Joenkoeping.