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Business models in two-sided markets:
an assessment of strategies for app
platforms



ICMB Delft
Iana Kouris, Robin Kleer
RWTH Aachen University, Germany
Agenda




▪   Introduction

▪   Background and literature review

▪   Strategies for app platforms

▪   Discussion and conclusion




                                       1
Internet-based platforms are reshaping life in the 21st century




     “ Consider technology platforms such as Amazon Web Services, Google
       Apps, Android, Facebook, Twitter, the iPhone App Store, and now the
       iPad... Just as the telephone, automobile, and aeroplane reshaped society in
       the first half of the 20th century, the digital infrastructure is reshaping life
       in the 21st.
                                                  Financial Times, 22 September 2010


                                                                                    ”     2
Based on the two-sided market theory and platform management literature as well
as assessment of key stakeholders we analyze strategies in the app platform
industry




  Key stakeholder                                                   Theory
   ▪   App platforms                                            ▪   Platform management,
                                                                    e.g., Gawer and
                                      Strategies for                Cusumano (2008),
   ▪   Developer                      app platforms                 Eisenmann (2007)
                                                                ▪   Two-sided markets
                                                                    theory, e.g., Rochet and
   ▪   User                                                         Tirole (2003, 2006),
                                                                    Armstrong (2006)




 Focus on app platforms but main insights are applicable to other (internet-based) platforms.
                                                                                               3
Agenda




▪   Introduction

▪   Background and literature review

▪   Strategies for app platforms

▪   Discussion and conclusion




                                       4
Platform management literature concentrates on practical guidelines, providing no
/ little theoretical background



      ▪   Main research directions:

            ▪   Network analysis
                   ▪ Platforms as bottlenecks (Eaton et al., 2010)
                   ▪ Positive and negative effects of gate keeping position (Baldwin
                     and Clark, 2006)
            ▪   Platform competition
                   ▪ Platform leadership (Gawer and Cusumanu, 2008)
                   ▪ Entrant strategy: Platform envelopment (Eisenmann et al., 2007;
                     Hidding et al., 2011)
            ▪   Management of complementors
                   ▪ Balance between encouraging entry, innovation / extract money
                     (Gawer and Henderson, 2007)
                   ▪ Innovation and open access (Parker and van Alstyne, 2009;
                     Boudreau, 2010)


                                                                                       5
Two-sided market theory


                                        Platform




                         Sellers (S)                 Buyers (B)


 “  “On two-sided markets, platforms intermediate transactions between two groups of
    agents valuing each other's presence.” – Tag (2008, p. 5)


    The three key characteristics of two-sided markets are (according to Weyl, 2009, p. 4)
    ▪ Price discrimination between two distinct groups of users
    ▪ Cross network effects between market sides
    ▪ Bilateral market power of the platform

                                                                                         ”
                                                                                             6
App platforms can be analyzed using two-sided market theory



                   ▪ Key players are AppStore,     Android Market, Blackberry, Windows
                     Mobile
  App Platform     ▪ Total Revenue USD 4 billion in 2011 (and growing)
   (=Platform)     ▪ Different roles of platforms (operator, dealer, infomediary, trusted
                     third party (Belleflamme and Peitz, 2010))
                   ▪ Native/integrated plaforms, pure mobile device manufacturers,
                     mobile network operators, independent
                    ▪ Program apps and provide them (via one ore multiple platforms)
                    ▪ Different pricing strategies (simply buy, in app purchase, financed
   Developers
                      through advertisement)
    (=Seller)
                    ▪ Attract customers via versioning (lite vs. prime), free trials,
                      personification

                   ▪ Access to platform via mobile device
                   ▪ Mobile device and apps are complementary goods
      Users        ▪ Provide rating of apps
    (=Buyer)       ▪ Different customer segments (Apple, Blackberry vs. Android)
                                                                                            7
Two-sided markets literature provides valuable theoretical insights




       Seller market side                                                                   Buyer market side


        Fees                                                                     Fees




                                                                              PSNew
       PBOld                                                                  PSOld
       PBNew
                                                                      Number of                                          Number of
                                  DBOld                DBNew          sellers                             DSOld DSNew    sellers




SOURCE : Parker, J.J. und Van Alstyne, M.W. (2005) Two-Sided Network Effects, Management Science 51(10), pp. 1494–1504               8
Economic literature on two-sided markets focuses on theoretical analysis




      ▪   Main research directions:

            ▪   Extensions of the basic model by Rochet and Tirole (2003)
                  ▪ Usage fees, membership fees (Armstrong, 2006; Rochet and
                    Tirole, 2006)
                  ▪ Quality preferences (Hagiu, 2009; Jeon and Rochet, 2010)
                  ▪ Segmentation of participants, commission payments and
                    adjustments for the number of interactions (Kouris, 2011).
            ▪   Duopoly and competitive dynamics
                  ▪ Competitive bottlenecks (Armstrong, 2006)
                  ▪ Tying and multihoming (Choi, 2010)
                  ▪ Open and closed platforms (Tag, 2010)
                  ▪ Dynamic analysis (Sun and Tse, 2007; Kumar et al., 2010)
            ▪   Empirical evaluation
                  ▪ Evaluation of indirect network effects (Rysman, 2004)
                  ▪ Non-parametric analysis of two-sided markets (Sokullu, 2010)

                                                                                   9
Agenda




▪   Introduction

▪   Background and literature review

▪   Strategies for app platforms

▪   Discussion and conclusion




                                       10
We consider key strategic issues along 3 phases of a life cycle

                     Key strategic issues and decisions

 Design phase




 Launch phase




 Competition
 phase



                                                                  11
During the design phase platform should check, if it can apply “coring”, then make
decisions regarding fees size and allocation and quality of participants
                    Key strategic issues and decisions

 Design phase
                    ▪ Check necessary criteria for a product to become a platform and
                      make the product core or a system (Gawer and Cusumano, 2007)
                    ▪ Decide, which side to subsidize (Eisenmann et al., 2006)
                    ▪ Usage vs. membership fees (Rochet and Tirole 2006, Armstrong
                      2006, Kouris 2011)
                    ▪ Check, if quality review would make sense (Hagiu, 2009)
 Launch phase




 Competition
 phase



                                                                                        12
During the launch phase platform should concentrate on getting both sides on
board, followed by decisions regarding openness and “envelopment”
                    Key strategic issues and decisions

 Design phase
                    ▪ Check necessary criteria for a product to become a platform and
                      make the product core or a system (Gawer and Cusumano, 2007)
                    ▪ Decide, which side to subsidize (Eisenmann et al., 2006)
                    ▪ Usage vs. membership fees (Rochet and Tirole 2006, Armstrong
                      2006, Kouris 2011)
                    ▪ Check, if quality review would make sense (Hagiu, 2009)
 Launch phase
                    ▪ Decide, how the platform will get both market sides on board
                      („chicken & egg“ problem, Caillaud and Jullien, 2003)
                    ▪ Open vs. closed system (Rysman, 2009)
                    ▪ Use “envelopment” to attract more customers (Eisenmann et al.,
                      2007 and Hidding et al. 2011)


 Competition
 phase



                                                                                        13
During the competition phase it is key to determine if the market is prone to
“winner-takes-all” dynamics
                     Key strategic issues and decisions

 Design phase
                     ▪ Check necessary criteria for a product to become a platform and
                       make the product core or a system (Gawer and Cusumano, 2007)
                     ▪ Decide, which side to subsidize (Eisenmann et al., 2006)
                     ▪ Usage vs. membership fees (Rochet and Tirole 2006, Armstrong
                       2006, Kouris 2011)
                     ▪ Check, if quality review would make sense (Hagiu, 2009)
 Launch phase
                     ▪ Decide, how the platform will get both market sides on board
                       („chicken & egg“ problem, Caillaud and Jullien, 2003)
                     ▪ Open vs. closed system (Rysman, 2009)
                     ▪ Use “envelopment” to attract more customers (Eisenmann et al.,
                       2007 and Hidding et al. 2011)


 Competition         ▪ Main factors influencing „winner-takes-all-dynamics” (Eisenmann
 phase                et al., 2007, Sun and Tse, 2007):
                      – Cost of multi-homing
                      – Size of indirect network effects
                      – Size of the same-side effects
                      – Presence of demand for differentiation                           14
Observations and suggestions for app platforms business models




 Design phase
                    ▪ App platforms managed to become core of the mobile ecosystems
                      (shift from hardware to software)
                    ▪ App platforms try to extract moist of their revenues from developers
                    ▪ Per transaction commission is key revenue source
                    ▪ Quality (or perceived quality) can be an important differentiation
                      aspect (cf. Apple)

 Launch phase       ▪ Many app platforms leverage customers they used to have before
                      they started the platform: platform envelopment (iTunes for the
                      AppStore, Linkage to the Search platform (Google Android)
                    ▪ Battle between open and closed philosophy is not over yet (Android
                      vs. Apple)

 Competition        ▪ App platform industry shows a high tendency towards convergence
 phase                but it leaves room for niche building and differentiation
                    ▪ The key issue for the incumbent app platforms is to push further for
                      consolidation
                    ▪ Possible challengers have to look for their niche to be successful
                                                                                         15
Agenda




▪   Introduction

▪   Background and literature review

▪   Strategies for app platforms

▪   Discussion and conclusion




                                       16
Conclusion and discussion




     ▪   Summary
           ▪ Two-sided market theory (combined with management literature on
             platform) provides valuable insights for business strategies in the app
             platform industry
           ▪ Pricing, chicken & egg problem, and winner take all dynamics are the
             key elements during the life cycle of a platform

     ▪   Further research
           ▪ Empirical evaluation of pricing (price elasticities, strategies)
           ▪ Analysis of developers and users
           ▪ Level of openness of platforms (collaborations among platform
             providers, collaborations of platform providers with developers)




                                                                                       17

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Business models in two-sided markets: an assessment of strategies for app platforms

  • 1. Business models in two-sided markets: an assessment of strategies for app platforms ICMB Delft Iana Kouris, Robin Kleer RWTH Aachen University, Germany
  • 2. Agenda ▪ Introduction ▪ Background and literature review ▪ Strategies for app platforms ▪ Discussion and conclusion 1
  • 3. Internet-based platforms are reshaping life in the 21st century “ Consider technology platforms such as Amazon Web Services, Google Apps, Android, Facebook, Twitter, the iPhone App Store, and now the iPad... Just as the telephone, automobile, and aeroplane reshaped society in the first half of the 20th century, the digital infrastructure is reshaping life in the 21st. Financial Times, 22 September 2010 ” 2
  • 4. Based on the two-sided market theory and platform management literature as well as assessment of key stakeholders we analyze strategies in the app platform industry Key stakeholder Theory ▪ App platforms ▪ Platform management, e.g., Gawer and Strategies for Cusumano (2008), ▪ Developer app platforms Eisenmann (2007) ▪ Two-sided markets theory, e.g., Rochet and ▪ User Tirole (2003, 2006), Armstrong (2006) Focus on app platforms but main insights are applicable to other (internet-based) platforms. 3
  • 5. Agenda ▪ Introduction ▪ Background and literature review ▪ Strategies for app platforms ▪ Discussion and conclusion 4
  • 6. Platform management literature concentrates on practical guidelines, providing no / little theoretical background ▪ Main research directions: ▪ Network analysis ▪ Platforms as bottlenecks (Eaton et al., 2010) ▪ Positive and negative effects of gate keeping position (Baldwin and Clark, 2006) ▪ Platform competition ▪ Platform leadership (Gawer and Cusumanu, 2008) ▪ Entrant strategy: Platform envelopment (Eisenmann et al., 2007; Hidding et al., 2011) ▪ Management of complementors ▪ Balance between encouraging entry, innovation / extract money (Gawer and Henderson, 2007) ▪ Innovation and open access (Parker and van Alstyne, 2009; Boudreau, 2010) 5
  • 7. Two-sided market theory Platform Sellers (S) Buyers (B) “ “On two-sided markets, platforms intermediate transactions between two groups of agents valuing each other's presence.” – Tag (2008, p. 5) The three key characteristics of two-sided markets are (according to Weyl, 2009, p. 4) ▪ Price discrimination between two distinct groups of users ▪ Cross network effects between market sides ▪ Bilateral market power of the platform ” 6
  • 8. App platforms can be analyzed using two-sided market theory ▪ Key players are AppStore, Android Market, Blackberry, Windows Mobile App Platform ▪ Total Revenue USD 4 billion in 2011 (and growing) (=Platform) ▪ Different roles of platforms (operator, dealer, infomediary, trusted third party (Belleflamme and Peitz, 2010)) ▪ Native/integrated plaforms, pure mobile device manufacturers, mobile network operators, independent ▪ Program apps and provide them (via one ore multiple platforms) ▪ Different pricing strategies (simply buy, in app purchase, financed Developers through advertisement) (=Seller) ▪ Attract customers via versioning (lite vs. prime), free trials, personification ▪ Access to platform via mobile device ▪ Mobile device and apps are complementary goods Users ▪ Provide rating of apps (=Buyer) ▪ Different customer segments (Apple, Blackberry vs. Android) 7
  • 9. Two-sided markets literature provides valuable theoretical insights Seller market side Buyer market side Fees Fees PSNew PBOld PSOld PBNew Number of Number of DBOld DBNew sellers DSOld DSNew sellers SOURCE : Parker, J.J. und Van Alstyne, M.W. (2005) Two-Sided Network Effects, Management Science 51(10), pp. 1494–1504 8
  • 10. Economic literature on two-sided markets focuses on theoretical analysis ▪ Main research directions: ▪ Extensions of the basic model by Rochet and Tirole (2003) ▪ Usage fees, membership fees (Armstrong, 2006; Rochet and Tirole, 2006) ▪ Quality preferences (Hagiu, 2009; Jeon and Rochet, 2010) ▪ Segmentation of participants, commission payments and adjustments for the number of interactions (Kouris, 2011). ▪ Duopoly and competitive dynamics ▪ Competitive bottlenecks (Armstrong, 2006) ▪ Tying and multihoming (Choi, 2010) ▪ Open and closed platforms (Tag, 2010) ▪ Dynamic analysis (Sun and Tse, 2007; Kumar et al., 2010) ▪ Empirical evaluation ▪ Evaluation of indirect network effects (Rysman, 2004) ▪ Non-parametric analysis of two-sided markets (Sokullu, 2010) 9
  • 11. Agenda ▪ Introduction ▪ Background and literature review ▪ Strategies for app platforms ▪ Discussion and conclusion 10
  • 12. We consider key strategic issues along 3 phases of a life cycle Key strategic issues and decisions Design phase Launch phase Competition phase 11
  • 13. During the design phase platform should check, if it can apply “coring”, then make decisions regarding fees size and allocation and quality of participants Key strategic issues and decisions Design phase ▪ Check necessary criteria for a product to become a platform and make the product core or a system (Gawer and Cusumano, 2007) ▪ Decide, which side to subsidize (Eisenmann et al., 2006) ▪ Usage vs. membership fees (Rochet and Tirole 2006, Armstrong 2006, Kouris 2011) ▪ Check, if quality review would make sense (Hagiu, 2009) Launch phase Competition phase 12
  • 14. During the launch phase platform should concentrate on getting both sides on board, followed by decisions regarding openness and “envelopment” Key strategic issues and decisions Design phase ▪ Check necessary criteria for a product to become a platform and make the product core or a system (Gawer and Cusumano, 2007) ▪ Decide, which side to subsidize (Eisenmann et al., 2006) ▪ Usage vs. membership fees (Rochet and Tirole 2006, Armstrong 2006, Kouris 2011) ▪ Check, if quality review would make sense (Hagiu, 2009) Launch phase ▪ Decide, how the platform will get both market sides on board („chicken & egg“ problem, Caillaud and Jullien, 2003) ▪ Open vs. closed system (Rysman, 2009) ▪ Use “envelopment” to attract more customers (Eisenmann et al., 2007 and Hidding et al. 2011) Competition phase 13
  • 15. During the competition phase it is key to determine if the market is prone to “winner-takes-all” dynamics Key strategic issues and decisions Design phase ▪ Check necessary criteria for a product to become a platform and make the product core or a system (Gawer and Cusumano, 2007) ▪ Decide, which side to subsidize (Eisenmann et al., 2006) ▪ Usage vs. membership fees (Rochet and Tirole 2006, Armstrong 2006, Kouris 2011) ▪ Check, if quality review would make sense (Hagiu, 2009) Launch phase ▪ Decide, how the platform will get both market sides on board („chicken & egg“ problem, Caillaud and Jullien, 2003) ▪ Open vs. closed system (Rysman, 2009) ▪ Use “envelopment” to attract more customers (Eisenmann et al., 2007 and Hidding et al. 2011) Competition ▪ Main factors influencing „winner-takes-all-dynamics” (Eisenmann phase et al., 2007, Sun and Tse, 2007): – Cost of multi-homing – Size of indirect network effects – Size of the same-side effects – Presence of demand for differentiation 14
  • 16. Observations and suggestions for app platforms business models Design phase ▪ App platforms managed to become core of the mobile ecosystems (shift from hardware to software) ▪ App platforms try to extract moist of their revenues from developers ▪ Per transaction commission is key revenue source ▪ Quality (or perceived quality) can be an important differentiation aspect (cf. Apple) Launch phase ▪ Many app platforms leverage customers they used to have before they started the platform: platform envelopment (iTunes for the AppStore, Linkage to the Search platform (Google Android) ▪ Battle between open and closed philosophy is not over yet (Android vs. Apple) Competition ▪ App platform industry shows a high tendency towards convergence phase but it leaves room for niche building and differentiation ▪ The key issue for the incumbent app platforms is to push further for consolidation ▪ Possible challengers have to look for their niche to be successful 15
  • 17. Agenda ▪ Introduction ▪ Background and literature review ▪ Strategies for app platforms ▪ Discussion and conclusion 16
  • 18. Conclusion and discussion ▪ Summary ▪ Two-sided market theory (combined with management literature on platform) provides valuable insights for business strategies in the app platform industry ▪ Pricing, chicken & egg problem, and winner take all dynamics are the key elements during the life cycle of a platform ▪ Further research ▪ Empirical evaluation of pricing (price elasticities, strategies) ▪ Analysis of developers and users ▪ Level of openness of platforms (collaborations among platform providers, collaborations of platform providers with developers) 17