Media Innovation Meets the Marketplace

Abstract

This chapter examines the marketplace context for media innovations. This includes factors that have been well researched and about which much is known, for example, pricing and early adopters, as well as marketplace elements and patterns that are not so thoroughly understood but are nonetheless very important in understanding the process of adoption, for example, the role of serendipity. It reviews patterns of adoption that were prevalent in the twentienth century but which have changed in the twenty-first century, for example, how word of mouth has been transformed by social media. Declines and failures as well as successes along with the international scope of media innovations, including in developing countries, are accessed.

The advantages and disadvantages of large and small companies creating media innovations are reviewed as are the respective roles of content creation and distribution. The concluding discussion section describes the contexts for media innovations today, including concerns about their privacy, use of media in public places, filters for new media innovations to identify likely successes, and the importance of teams in developing media innovations.

Citation

Carey, J. (2019), "Media Innovation Meets the Marketplace", Einav, G. (Ed.) Digitized, Emerald Publishing Limited, Leeds, pp. 3-19. https://doi.org/10.1108/978-1-78973-619-920191001