Chapter 5: Business models (original) (raw)

2013

Abstract

The emergence of business models as a research topic has coincided with the growth of online markets and changes to commercial practices in the digital era. As digital distribution, production and payment mechanisms have resulted in decreased transaction costs, business models previously economically unviable have become profitable. These decreased transactions costs have enabled innovation and experimentation in new business models, especially in the creative industries, where the ability to produce, distribute and sell digital media via the Internet has led to significant changes in business models and market structure. This chapter presents an overview of business model theory and reports on research that examines changing business models in the digital media industry. As business model methodology matures, the literature moves towards a consensus on the definition and interpretation of business model theory and practice. The weaknesses of business models as both a method and an ...

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