Media industry is evolving under Internet logic. It has become a key clue for media economics studies. This paper follows this clue to review Chinese media economics studies in 2014 from the perspectives of media consumption, media organization and media industry. Based on this, this paper argues that on one hand, Chinese media economics studies have proposed some out-breaking and foreseeing opinions which are very practical to the industry; but on the other hand, Chinese media economics studies are so application-oriented that many of them suffer methodology defects and the lack of theoretical value.