Media Business Models: A Holistic Approach

Executive Summary Our objectives  Analyze major paradigm changes in the media industry;  Investigate the building blocks and dynamics of media business models;  Predict the future management challenges in the media business. Research questions Why should firms engaging in the media industry consistently innovate business models that are different from their current practices and ways of operation? How can firms renew their business model in the dynamic media industry characterized by collaborative digital ecosystems? What are the future management challenges for the media business models? Findings Six fundamental paradigm changes in the media industry discussed in the paper: The value paradigm shifts the media offerings increasingly from products to services. The technology paradigm underscores the role of platforms instead of traditional media processes in the delivery of the content. The customer paradigm shifts the focus from proactive push strategies to reactive market pull s...

Making Media. Production, Practices, and Professions, 2018

Villi, Mikko and Picard, Robert G. (2018). Transformation and Innovation of Media Business Models. In M. Deuze & M. Prenger (Eds.), Making Media. Production, Practices, and Professions. Amsterdam: Amsterdam University Press, 121-131.

Brazilian journalism research

– This paper seeks to understand the undergoing digital transformations of the Chilean media system, based on the gaps, challenges, and opportunities that are currently facing the industrial and commercial organization of native digital media in Chile. In the Chilean case, the emergence of native digital media was developed with the new media business models in a context of a crisis of traditional modes of media financing. To study this process, we propose a descriptive-exploratory study focusing on six paradigmatic cases based on a campaign of semi-structured interviews (12) and a platform biography (6) to gather information on the structures, dynamics, and evolution of business models in the journalistic sites of these digital native media. Semi-structured interviews with founders/owners (FD) and monetization managers (MM), allow us to understand the reasons and objectives that underpin these transformations. Our sample is composed of six Chilean native digital media, which are le...

Leandros, Ν. & Papadopoulou L. (2020). Strategic Business Models in Times of Transformational Change and Crisis: A New Typology for Sustainable Media, 2020

Media companies worldwide are trying to adapt to the new challenges brought about by the economic crisis and technological revolution. However, some of these efforts are doomed to fail because media tend to concentrate on adapting particular elements of their business models, instead of changing the entire business model logic. This work proposes an innovative business model typology and is based on the hypothesis that if a company could re-arrange its structural elements around this typology, it could have much better chances in its fight to overcome the challenges posed by the ever changing and competitive digital ecosystem. To test this typology the authors used case study methodology and drew from evidence collected from in-depth interviews with journalistsfrom two Greek websites. Ultimately, the article providesthe basisfor generating new theories about business models and finds that even in times of crisis and transformational change, media companies can survive aslong asthey perceive crisis -and any other kind of challenge for that matter- as an opportunity for creative change.

Quaderno DEM, 2019

The topic of cultural and creative industries has been strongly debated by economics and business scholars over the last two decades. At the same time, the Business Model tool was developed. Assuming that both of the topics have created enormous debates among scholars and practitioners, the definition of cultural industries is shifting to the wider definition of creative industries. Such extension is meant to comprehend all of those industries and all of those sectors that are including dynamics of generation and exploitation of intellectual property. Such approach led to the embracing of a wide range of industries that were rarely associated to the cultural and creative domains in the past. Furthermore, the Business model has shifted from being an architecture specifically designed to serve the e-business, to a flexible yet hard to define “good-for-all” method to better understand and/or improve any kind of business. Surprisingly, studies on the Business model specifically applied to the Creative industries appeared to be fragmented. The present study aimed to briefly review the Business Models literature applied to the Creative industries, in order to measure how much the tool has been studied within the CCIs and through which lens and objectives. Additional goals have been the analysis of the subsectors within the creative industries that had already been treated from scholars prior, highlighting the ones that should be analyzed further in the future.

… 8th International Conference on Arts and …, 2005

Media industry chain (press, TV, music, radio, cinema, software) is an interesting empirical base to study drivers and patterns of diversification, as it has been affected, with a different intensity, by significant and structural technological changes. After a conceptualisation of diversification as a construct, the paper examines the consolidation process of content industries and the emergence of best sellers in virtually all segments of content industries. The issue of convergence is presented, in order to describe the redefined competitive space in which content players are operating. On the basis of annual reports and secondary data analysis and a selected number of interviews, positioning of content players in this new competitive space is then presented and three possible trajectories are illustrated in order to assess the trends for the emerging business models with the progressive convergence content industries are experiencing.

Journal of Media Business Studies

Digital entrants have changed the competitive landscape for advertisers and media. Over the past decade, media agencies have grown more rapidly than the media market as a whole, securing a larger share of the value generated in the advertising industry. We develop a process model describing how these agencies have altered their business models over a decade. We discuss three separate stages in this innovation process, labelled business model innovation awareness, business model exploration, and business model exploitation. We find and document how different building blocks of the business model are a focal point of innovation in each stage of the business model innovation process. Our findings offer a way for the media industry to understand the transformation of media agencies.

Mapping Digital Media Reference Series No. 5, 2011

Th e values that underpin good journalism, the need of citizens for reliable and abundant information, and the importance of such information for a healthy society and a robust democracy: these are perennial, and provide compass-bearings for anyone trying to make sense of current changes across the media landscape.

Journal of Media Business Studies, 2005

This discussion article explores how media products differ among themselves and how those differences affect the economic forces they encounter, business dynamics of their industries, and the strategies employed. It suggests that media can be characterized as single or continuous creation products, as operating in unit cost or fixed cost economies, and as focusing on failure management or success management strategies. It also explores supply side and demand side differences between media and other products and how these affect media industry business dynamics.