The Journey of Business Model Innovation in Media Agencies: Towards A Three-Stage Process Model

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

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 (BMI) 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 BMI process. Our findings offer a way for the media industry to understand the transformation of media agencies.
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 (BMI) 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 BMI process. Our findings offer a way for the media industry to understand the transformation of media agencies.
LanguageEnglish
JournalJournal of Media Business Studies
Volume14
Issue number4
Pages282
Number of pages298
ISSN1652-2354
DOIs
StatePublished - 12 Apr 2018

Cite this

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abstract = "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 (BMI) 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 BMI process. Our findings offer a way for the media industry to understand the transformation of media agencies.",
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The Journey of Business Model Innovation in Media Agencies : Towards A Three-Stage Process Model. / Jensen, Henrik; Sund, Kristian J.

In: Journal of Media Business Studies, Vol. 14, No. 4, 12.04.2018, p. 282.

Research output: Contribution to journalJournal articleResearchpeer-review

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