Business Models in the Media Industry: A Synoptic Overview

Analyzing business models is a well-established approach in general management studies to adapt structures, activities, and services of firms to dynamic environments. Media management research is, however, still struggling to understand the inner workings of business models and the managerial implications for creating sustainable value. Truly, most media companies struggle to find new revenue streams that can reshape their broken business model. Hence, the industry’s future seems to be predominantly defined by experiments to monetization by the industry players. By and large, pricing and output decisions are accompanied by management strategies of product differentiation and innovation funding models. Platform models in a digital business ecosystem offer new opportunities.