The digital transformation of business models in the creative industries: A holistic framework and emerging trends

By Feng Li. Technovation, 2018

637 citations recorded by the source corpus.

This paper examines how digital technologies facilitate business model innovations in the creative industries. Through a systematic literature review, a holistic business model framework is developed, which is then used to analyse the empirical evidence from the creative industries. The research found that digital technologies have facilitated pervasive changes in business models, and some significant trends have emerged. However, the reconfigured business models are often not ‘new’ in the unprecedented sense. Business model innovations are primarily reflected in using digital technologies to enable the deployment of a wider range of business models than previously available to a firm. A significant emerging trend is the increasing adoption of multiple business models as a portfolio within one firm. This is happening in firms of all sizes, when one firm uses multiple business models to servedifferent markets segments, sell different products, or engage with multi-sided markets, or to use different business models over time. The holistic business model framework is refined and extended through a recursive learning process, which can serve both as a cognitive instrument for understanding business models and a planning tool for business model innovations. The paper contributes to our understanding of the theory of business models and how digital technologies facilitate business model innovations in the creative industries. Three new themes for future research are highlighted.

Subfields: Management of Technology and Innovation, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/9226611601a22472d60fbeaace7370049e0b9379

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In Management of Technology and Innovation

In Management Science and Operations Research

Citations in the corpus

Digital transformation: Five recommendations for the digitally conscious firm (2020, neutral): “Firms are feeling the pressure not just to alter their existing business models but also to operate a portfolio of different business models in order to cope with increasingly ﬁckle customers who demand both ﬂexibility and personalization of products and services (Li, 2018).”
The Effects of Digital Transformation on Firm Performance: Evidence from China’s Manufacturing Sector (2021, background): “, platform or ecosystem) that help companies change the ways of value capturing and creation, enabling them to get adapted to environmental changes agilely [19,60,61].”
Transforming business using digital innovations: the application of AI, blockchain, cloud and data analytics (2020, background): “DBT is a way of conducting business and transforming business from traditional to digital (Li 2018).”
Business model innovation in cultural and creative industries: Insights from three leading mobile gaming firms (2020, background): “As highlighted by Li (2018), digital technologies have facilitated pervasive changes in business models; one of the most relevant trends is the adoption of multiple business models as a portfolio within one firm.”
Identifying Digital Transformation Paths in the Business Model of SMEs during the COVID-19 Pandemic (2020, background): “The shortening time gap between the emergence and utilization of digital technology, the journey path, and the final destination of digital transformation are difficult to define precisely in advance [4].”
Digital transformation in business and management research: An overview of the current status quo (2022, background): “Liu et al. (2011) developed a framework that provides a theoretical advancement of the resource fit literature that includes four dimensions: external resource fit, internal resource fit, external capability fit, and internal capability fit.”