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This revised edition of Understanding the Business of Media Entertainment is an indispensable guide to the business aspects of the entertainment industry, providing the information you need to break in and to succeed. Written in a clear and engaging tone, the second edition of this book covers the essential topics in a thorough but reader-friendly manner and includes plenty of real-world examples that bring business and legal concepts to life, such as the growing clout of digital companies and the rise of streaming providers like Netflix and Amazon, the transformation of independent film development and distribution, and changes to the media ownership landscape. Award-winning screenwriter and entertainment attorney Gregory Bernstein gives an insider's look at the filmmaking business, from copyright law and government media regulation to development, distribution, revenue, the role of agents, managers, and unions, entertainment contracts, and more. Other topics covered include: Hollywood's growth and the current conglomerates that own most of the traditional media. How specific entertainment companies operate, including facts about particular studios and employee tasks. How studios develop projects and engage in marketing and distribution. The kinds of revenues studios earn and how they account for these revenues.