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Wmemc carvajal 16

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This is my presentation at the World Media Economics and Management Conference in NY, 4-6 May, 2016, at Fordham University

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Wmemc carvajal 16

  1. 1. Business Models (BM) for Journalism in the Age of Content Discovery Platforms Miguel Carvajal mcarvajal@umh.es @mcarvajal_ Universidad Miguel Hernández (Alicante, Spain) Special thanks to the research project team: CSO2012-38467-C03-02 1
  2. 2. Aims of the paper • Rethink the concept of business model (BM) for journalism from the value creation perspective • Understand how the new ‘platform paradigm’ impact core principles of media economics • Identify new types of business models for journalism emerging in this new paradigm • Conceptualize these BM with an holistic approach and find examples that fit into each type M. Carvajal - May 5th, 2016 - NY 2
  3. 3. M. Carvajal - May 5th, 2016 - NY Zott, Amit and Massa (et al., 2011) 1,777 3 Published in Academic and Non Academic Journals BM articles in the business/management field:
  4. 4. Main works on BM in media economics field: • Picard (2000) • Vaccaro and Cohn (2004) • Bakker (2002) • Cham Olmsted and Ha (2003) • Wirtz (2011) • Gabszewicz et al. (2015) • von Rimscha (2015) • Goyanes and Peinado (2014) • Vara and Díaz Espina (2015) M. Carvajal - May 5th, 2016 - NY 4
  5. 5. Theoretical background • Confusion with terminology between business model, strategy and revenue streams (Morris and Schindehutteb, 2005; Vara et al. 2015) • We need to understand how value is created and distributed, not only captured in the media industry • The new digital paradigm changes the value chain for media (Cardoso and Moreno, 2015; Wirth, 2011) • Post-industrial journalism (Anderson et al, 2010) and the emergence of a new ecosystem (Bruno, N., & Nielsen, R. K, 2012, Cook and Sirkunnen 2013) M. Carvajal - May 5th, 2016 - NY 5
  6. 6. M. Carvajal - May 5th, 2016 - NY Method – for conceptualize the BM typology Components of the BM (Morris, 2008) 1. How do they create value? 2. For whom do they create value? 3. What is their internal source of competence? 4. How do they position in the marketplace? 5. How do they make money? 6. What are their time, scope, and size ambitions? 6
  7. 7. HOW DO THEY CREATE VALUE M. Carvajal - May 5th, 2016 - NY Production Curation Discovery Segment Scalable & Massive Human Creativity Technology Enterntainment & DistractionRelevance & brand loyalty Brands & AdvertiersFriends, Subscribers Long tail iRobot Engagement Mix model MARKET SOURCE OF COMPETENCE DIFFERENTIATION REVENUE MODEL 7 GrowthSustainable Speculative SIZE, SCOPE & AMBITIONS
  8. 8. M. Carvajal - May 5th, 2016 - NY #1 Digital Platform BM 8 • Blendle • FB Instant Articles • Twitter Moments • Snapchat • Apple News
  9. 9. HOW DO THEY CREATE VALUE M. Carvajal - May 5th, 2016 - NY Production Curation Discovery Segment Human Creativity Enterntainment & DistractionRelevance & brand loyalty Brands & AdvertiersFriends, Subscribers Long tail iRobot Engagement Mix model MARKET SOURCE OF COMPETENCE DIFFERENTIATION REVENUE MODEL 9 Technology & Big data Scalable & Massive
  10. 10. M. Carvajal - May 5th, 2016 - NY #2 Viral BM 10
  11. 11. HOW DO THEY CREATE VALUE M. Carvajal - May 5th, 2016 - NY Production Curation Discovery Segment Human Creativity Technology & Big data Enterntainment & DistactionRelevance & brand loyalty Brands & AdvertiersFriends, Subscribers Long tail iRobot Engagement Mix model MARKET SOURCE OF COMPETENCE DIFFERENTIATION REVENUE MODEL 11 Scalable & Massive
  12. 12. M. Carvajal - May 5th, 2016 - NY #3 Aggregator & Curator BM 12
  13. 13. HOW DO THEY CREATE VALUE M. Carvajal - May 5th, 2016 - NY Production Curation Discovery Segment Human Creativity Enterntainment & DistractionRelevance & brand loyalty Brands & AdvertiersFriends, Subscribers Long tail iRobot Engagement Mix model MARKET SOURCE OF COMPETENCE DIFFERENTIATION REVENUE MODEL 13 Technology & Big data Scalable & Massive
  14. 14. M. Carvajal - May 5th, 2016 - NY #4 Focused BM 14
  15. 15. HOW DO THEY CREATE VALUE M. Carvajal - May 5th, 2016 - NY Production Curation Discovery Segment Human Creativity Enterntainment & DistractionRelevance & brand loyalty Brands & AdvertiersFriends, Subscribers Long tail iRobot Engagement Mix model MARKET SOURCE OF COMPETENCE DIFFERENTIATION REVENUE MODEL 15 Technology & Big data Scalable & Massive
  16. 16. M. Carvajal - May 5th, 2016 - NY #5 Distributed Content BM 16
  17. 17. HOW DO THEY CREATE VALUE M. Carvajal - May 5th, 2016 - NY Production Curation Discovery Segment Human Creativity Enterntainment & DistractionRelevance & brand loyalty Brands & AdvertiersFriends, Subscribers Long tail iRobot Engagement Mix model MARKET SOURCE OF COMPETENCE DIFFERENTIATION REVENUE MODEL 17 Technology & Big data Scalable & Massive
  18. 18. M. Carvajal - May 5th, 2016 - NY #6 Global Media BM 18
  19. 19. HOW DO THEY CREATE VALUE M. Carvajal - May 5th, 2016 - NY Production Curation Discovery Segment Human Creativity Technology & Big data Enterntainment & DistactionRelevance & brand loyalty Brands & AdvertiersFriends, Subscribers Long tail iRobot Engagement Mix model MARKET SOURCE OF COMPETENCE DIFFERENTIATION REVENUE MODEL 19 Scalable & Massive
  20. 20. Conclusions • BM is generally confused with revenue streams or other parts of the concept • Instead on focusing on revenue generation, media outlets need to consider value creation first • Tech Platforms hold a dominant position, control the data flow and weaken legacy media BM • We should emancipate from legacy media perspective in the field of media economics M. Carvajal - May 5th, 2016 - NY 20
  21. 21. What’s the best scenario for journalism? Special thanks to the research project team: CSO2012-38467-C03-02 21 Public subsidies and philanthropy? Swallowed by the “new Murdochs”? Find a sustainable and modest BM? + M. Carvajal - May 5th, 2016 - NY
  22. 22. Thanks for your attention Miguel Carvajal mcarvajal@umh.es @mcarvajal_ Universidad Miguel Hernández (Alicante, Spain) Special thanks to the research project team: CSO2012-38467-C03-02 22

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