Molloy and Burgan’s study of film and television production and distribution in Australia summaries the idiosyncratic features of the industry, identifies the domestic policies affecting this sector and discusses a number of the economic issues. This review of the study provides a different interpretation of some of the economic issues. A framework for analysing the industry is proposed, one which focuses on the management of three types of risk: uncertainty

about what will attract viewers; difficulties in containing cost overruns; and the problem of piracy.