Media Entrepreneurship: A consensual Definition

Nº 30 AD-MINISTER universidad eafit · medellín - colombia · january-june 2017 · ISSN 1692-0279 · e-ISSN: 2256-4322 DATIS KHAJEHEIAN JEL: O33, L26 DOI: 10.17230/ad-minister.30.5 www.eafit.edu.co/ad-minister 91 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 MEDIA ENTREPRENEURSHIP: A CONSENSUAL DEFINITION EMPRENDIMIENTO MEDIÁTICO: UNA DEFINICIÓN CONSENSUADA ABSTRACT 1 DATIS KHAJEHEIAN JEL: O33, L26 Received: 19-10-2016 Modified: 15-11-2016 Accepted: 22-12-2016 DOI: 10.17230/ad-minister.30.5 www.eafit.edu.co/ad-minister Creative Commons (CC BY-NC- SA) Media Entrepreneurship has been an ambiguous, unclear and controversial concept and despite of growing academic efforts in the last decade, it is still a poorly defined subject. This paper is an effort to fill this gap by providing a comprehensive definition of media entrepreneurship. Firstly, a literature review conducted and entrepreneurship, media, opportunity and innovation as building blocks of media entrepreneurship explained. Then by using of a mixed of bibliographic method and a Delphi method with multi-stage analysis process, a consensual definition of media entrepreneurship proposed. This definition integrates some key features of the emerging media environment such as distinction of content and platform, value delivery, opportunity development, non-monetary benefit, etc. It is expected that the findings of this research clear the ground for further researches in the field of media entrepreneurship. KEYWORDS Media Entrepreneurship; Media Management; Venture Creation; Media Firm; Delphi Method; Consensual Definition; Consensus. RESUMEN El emprendimiento mediático ha sido un concepto ambiguo, confuso y controversial y a pesar de los crecientes esfuerzos académicos de la última década, sigue siendo una materia de estudio no muy bien definida. Este artículo es un esfuerzo por llenar esta brecha al proveer una definición amplia sobre el emprendimiento mediático. En primer lugar, se lleva a cabo una revisión de la literatura y se ponen el emprendimiento, los medios de comunicación, las oportunidades y la innovación como elementos básicos de la explicación del emprendimiento mediático. Luego, utilizando un método bibliográfico combinado y un método Delphi con un proceso de análisis de múltiples etapas, se propone una definición consensuada del emprendimiento mediático. Esta definición integra algunas de las principales características del naciente entorno mediático tales como la distinción entre “contenido” y “plataforma”, “valor entregado”, “desarrollo de oportunidad”, “beneficio no monetario”, etc. Se espera que los hallazgos de esta investigación allanen el camino para futuros investigadores en el campo del emprendimiento mediático PALABRAS CLAVE Emprendimiento mediático; gestión mediática; creación de empresas; empresa mediática; método Delphi; definición consensuada; consenso. 1 Assistant Professor in University of Tehran, and a visiting lecturer in the Center for Communication, Media and Information Technologies in Aalborg University of Denmark. He also periodically delivers lectures in Stuttgart Media University of Germany. Datis earned his PhD in Media Management and MA in Entrepreneurship with specialty in New Venture Creation. He is the head of the special interest group of ‘Emerging Media Markets’ in European Media Management Association. Datis is author of many academic articles in media management and entrepreneurship both in Persian and English, and has edited more than 70 academic papers at the time of writing this paper. Institutional Email address: [email protected] 92 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition INTRODUCTION In 2008 Achtenhagen wrote: “As the area of media entrepreneurship is still a young and undeveloped ield, this phenomenon is poorly understood” (p. 124). In 2017, no signiicant progress can be seen. The number of publications on the subject of media using limited entrepreneurship has increased, but the ield is not clear enough yet, and there is no available consensus among the experts of the ield. resources of sm In the short number of published research papers, some deinitions of media entrepreneurship can be found. Anne Hoag deined media entrepreneurship as “the firm to pursue creation and ownership of a small enterprise or organization whose activity adds at opportunities least one voice or innovation to the media marketplace” (2008, p.74). She argued that recognized to her deinition supports important characteristics: irst, it covers a broad spectrum of media sectors; second, it considers both new entrants and existing irms; third, this gaining profit from a specific deinition include both for-proit and non-commercial forms of media enterprise. Achtenhagen criticized Hoag’s deinition by pointing out that any person starting niche market a blog would be a new voice in the media marketplace, while he is not principally an entrepreneur (2008, p.126). She deines media entrepreneurship as “how new ventures aimed at bringing into existence future media goods and services are initially conceived of and subsequently developed, by whom, and with what consequences” (Ibid, p.126). Khajeheian and Roshandel Arbatani (2011) deined media entrepreneurship as “the creation and ownership of a small enterprise or organization whose activity adds at least one voice or innovation to the media marketplace”. In 2013 Khajeheian provided a speciic deinition for Media Entrepreneurship: “Individuals or small irms of which use their own or others’ resources to create value by extracting opportunities via ofering a service or product that is consist of any type of innovation in any of product/service characteristics, process, distribution channel or place, or diferent innovative usage, to the media market, or any other market that media is its main channel of interaction”. (2013, p.128). However, none of deinitions presented are comprehensive enough to shed light on aspects of entrepreneurial activities in fast changing and evolving media industry. Considering the importance of entrepreneurship in the national and global economies; the increasing role of communication technologies in the provision of possibilities for entrepreneurs; and also with respect to the poor literature in the ield of entrepreneurship in media industries, this paper aims to provide a consolidated deinition and a consensual conceptualization of media entrepreneurship. Such achievement can create a ground for further researches and more progresses in our knowledge of the ield. For this purpose, two major means have been implied. Firstly, literature of the ield reviewed and any possible connection that found, extracted. Then, a panel of scholars and academic experts in the ield have questioned this concept and what it implies. "When a ield is fragmented and its boundaries are blurred, it is legitimate to ask scholars what they perceive to be the deining elements of their ield" (Kuckertz and Mandl, 2016, p.418). Following these steps, the next part presents the literature review and past eforts in understanding media entrepreneurship. 93 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 LITERATURE REVIEW In the word “Media Entrepreneurship”, Media is an adjective for the noun of “Entrepreneurship”, implying that Entrepreneurship is the core of this process. Therefore, to understand media entrepreneurship well, the irst requirement is to clearly depict what is entrepreneurship. As there are numerous researches published on the subject of entrepreneurship and its diferent aspects, this paper is beneiting from the existing knowledge and by extracting the main attributes of entrepreneurship, explores how they contributes in our perception of media entrepreneurship. Entrepreneurship "As a scientiic ield of research, entrepreneurship has strong relevance to the media" (Hang and van Weezel, 2007). The word entrepreneurship is widely used, but it is still fragmented (Anderson and Starnawska, 2008) ambiguous (Hang and van Weezel, 2007) and context related (Zahra et al, 2014). "This is not because the deinition is not available, but because there are too many, and even these deinitions rarely agree with each other on some essential characteristics of the entrepreneurship" (Hang and van Weezel,2005, p.2). Various characteristics have been articulated with respect to entrepreneurship. New Business Creation: Carland et al (1996) explicitly explained that the outcome of entrepreneurship is the creation of new venture. Vivarelli (2010, p.1456) deines entrepreneurship from an industrial organization perspective: "entrepreneurship is the process by which new enterprises are founded and become viable". Opportunity: "Entrepreneurship is the activity of opportunity development to introduce new good or service, way of organizing, market, process and raw materials through organizing eforts that previously had not existed" (Shane & Venkataraman, 2000, p.4). Economic Growth: Stevenson and Jarillo (2007) explains that an entrepreneur’s actions have an efect on economic environment and improve society economically via innovation. Birch (1979,1987) stressed on job creation as an output of entrepreneurship. Drucker (1985) associated entrepreneurship with economic growth and innovation. Eiciency: Eiciency is a vital element of entrepreneurship. Leibenstein (1968) argued that the basic function is to destruct pockets of ineiciency in a system. Hirschman (1958, p.5) also argued that entrepreneurship fundamental function is “to call forth and enlisting of resources and abilities that are hidden, scattered, or badly utilized, rather than inding the optimal combination for given resources and factors of production”. Another important characteristic of entrepreneurship is Risk-taking: "Wu and Knott (2006) argue that entrepreneurship is a risk seeking activity, when the risk is related to the entrepreneurs’ own ability". Entrepreneurship is also associated with Innovation (Beckman, 1983), and lexibility (Birch, 1987), and many other important factors that play positive role in value creation and economic development of societies. However, the most important aspect of entrepreneurship, in relationship with the current study, is its association with small enterprises and possibility of involvement of individuals with low amount of capital. 94 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition Media And what does the word “media” in media entrepreneurship imply? As mentioned, it is an adjective and it implies the context in which entrepreneurial activities are conducted. According to Hoag (2008), "this word refers to the traditional mass communications systems and content genres as well as other technologies for mediated human speech. This includes traditional publishing, traditional electronic media, motion pictures, video gaming, recorded music, advertising, etc". Hang and van Weezel (2007, p.54), deine media as "the industries that produce and sell information as well as entertainment products and services". The Internet and then Web 2.0 by reduction of entry barriers, production cost, distance working, possibility to direct contact with consumers, etc.- revolutionized the way companies do their businesses and led in the creation of new irms. The Internet also ofered the artists an indispensable tool to work as independent entrepreneur (Tuomola, 2004). Media entrepreneurs can compete in the markets without the need for extensive resources (Derham et a, 2011) because the internet covers their lack of skills, resources, and technical knowledge, as well as the cost of marketing and the connection with partners and to market their products, services, and brands (Harris and Rae, 2009). Media industry, especially in the sections that SMEs are active, has signiicantly afected by advances in communication technologies. With the dramatic reduction in the cost of devices, software and knowledge required to produce the media content and provision of channels to reach target customers, small companies and individual entrepreneurs found a new context for the creation and delivery of value by production of media content and distribution. Media as a creative industry is characterized by uncertainty (Reca, 2006, Medina et al,2016; Napoli, 2016), risk (Doyle,2016, Pickard, 2004), complexity (Napoli, 2016), timeliness (Turow, 2011), autonomy (Lund, 2016), proactiveness (Hang and van Weezel, 2007), changing demand (Pickard, 2004). Such characteristics are very much aligned to the dimensions of the entrepreneurial process. These dimensions represent the entrepreneurial orientation of the irm, that includes processes, practices, and decision making activities that lead irms to decide to enter a new market or launch a new product (Lumpkin and Dess, 1996). As explained, media companies are urged to be particularly risk taking, innovative and associated with novel ways of thinking. Such entrepreneurial approach is undoubtedly extremely important for media irms (Hang and van Weezel, 2007). Media SMEs SMEs play an important role in national economies, by collectively contributing an average of 90% of national economic output (Wielicki & Arendt, 2010). There is growing evidence that smaller businesses can gain business value from the use of social media for internal and external purposes (Geho et al, 2010). Smaller businesses 95 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 are often regarded as key in encouraging the development of a country’s enterprise culture and in promoting business growth (Dyerson et al, 2010). SMEs are not homogenous groups, but they difer from many diferent perspectives (Chua et al. 2009; Parker and Castleman, 2007; Derham et al. 2011) and that is applicable for media entrepreneurs too. "Changes in the media industries have created various windows of opportunities. Opportunities appear in diferent sectors of the media industries" (Hang, 2016, p.15). “The rationale for new media business creation irst comes from an intention to adapt to the changing media environment. Market shifts and environment dynamics call for innovative new business to meet diferent consumers’ needs, content needs and advertising requirements. It also includes the desires to gain new revenue streams, to spread risks, to strengthen content creation and audience advertising relationships, to achieve the irst mover advantages and to increase learning and innovation” (Hang, 2016, p.14). Dubini, & Provera (2008) argue that media companies require content to sustain their value proposition (p49). They articulate three major reasons for the increase of media content titles. First, a series of innovations in content production; second, the growth in the number of indies under reduction of production cost; and third, the increase in the number of distribution channels under of digital technologies. Those three reasons; innovation, low production cost and abundant distribution channels are the incentives for creation and growth of SMEs in media industry. Opportunity: The Foundation of Media Entrepreneurship Opportunity is the central concept of entrepreneurship (Shane and Venkataraman 2000, p.220; Singh, 2001, p.11; Lumpkin and Lichtenstein, 2005, p.457; Shane et al, 2010, p.291) and the understanding of opportunity evaluation process represents a core intellectual question in entrepreneurship research (Foss and Klein, 2012; Emami, 2017). Therefore, opportunity identiication (recognition), evaluation and exploitation is a core concept in the media entrepreneurship. In one of the most cited deinition of entrepreneurship by more than 9700 citations at the time of writing this article, Shane and Venkataraman associated entrepreneurship with discovery, evaluation and exploitation of proitable opportunities and the set of individuals who process them (2000, p.218). Shane (2003, p.18) then describes entrepreneurial opportunity as a situation in which a person can create a new “means-end” framework for recombining resources that the entrepreneur believes will yield a proit. Fuduric (2008), using Shane deinition, deined entrepreneurial opportunity as two-sided: something changing in the environment (external) and a creation or recombination of resources happen by an entrepreneur (internal). A fundamental understanding of opportunity with respect to media entrepreneurship comes from the distinction between opportunity creation (Shumpeterian approach) and opportunity discovery (Kirznerian approach). In 96 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition Schumpeter view, entrepreneurs create opportunities by creative destruction; a radical innovation or invention that disequilibria market by creation of new demands for introducing innovation. In contrast, Kirznerian view argues that opportunities are already existing in the market, because of consistent shift in demand and entrepreneurs discover those opportunities earlier than the others. These approaches come into use towards understanding if media entrepreneurs create opportunities for value delivery, and they discover existed needs and demand for a type of media product or service (Fuduric, 2008). "In the Schumpeterian view, the entrepreneur moves the economy by disequilibrating it, while in the Kirznerian view the movement is equilibration" (Keyhani, 2016, p.123). The discovery perspective assumes that opportunities pre-exist and are awaiting discovery (opportunity is independent of the entrepreneur); Whereas the creation perspective assumes that opportunities do not exist without the entrepreneur (Will et al,2016, p.195). With respect to this diference, in discovery approach entrepreneurs search, both actively and passively; while Schumpeterian entrepreneurs observe, learn, act and create opportunities (Ibid). Dimov believes that opportunity creation encompasses a social learning process whereby new knowledge continuously emerges to resolve the uncertainty inherent to each stage of opportunity development (2007, p. 714). In understanding of opportunity in media entrepreneurship, based on an inspiration from Shane and Venkataraman (2000, p.218), three questions must be answered: why, when and how opportunities for the delivery of a media good or service comes into existence?; why, when and how media entrepreneurs discover and exploit opportunities?; and why, when and how media entrepreneurs use diferent modes of action to exploit opportunities. Khajeheian (2013) argues that an opportunity in the media industry is to identify the unmet needs in a niche market that is willing to pay to receive the value that satisies their need. Based on this deinition, media entrepreneurs base their activities on recognition of a need in a segment of media markets and they satisfy the need by delivery of value. This deinition is based in many other researches that tie opportunity with value, such as Lumpkin and Lichtenstein’s deinition of opportunity: the ability to identify a good idea and transform it into a business concept that adds value and generates revenues (2005, p.457). The question is that what approach is more appropriate for media entrepreneurs. To what extent they are creators or discoverers of opportunities? The answer to this question is diicult, because media entrepreneurs difer along the value chain. If we classify media entrepreneurs as cultural entrepreneurs, based on Dana (1995), they are opportunity seekers and Kirznerian identiiers of opportunity that actively taking risk of economic uncertainty. If we consider some technological entrepreneurs that create opportunities by their radical innovations. Such opportunity creator entrepreneurs are few and considerably lower in number, and it should be noted that the nature of most of innovations of media entrepreneurs is incremental innovation, or imitative innovation. 97 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 The question of how entrepreneurs discover business opportunities is the critical concern in entrepreneurial studies (Bernhard and Karlsson, 2014). The process of opportunity-discovery includes both the active and passive search. Passive search is based on Kirzner’s “entrepreneurial alertness”, while active search integrates with a systematic search approach (Will et al, 2016, p. 194-195). Vaghely and Julien (2010) believe that in identifying opportunities, entrepreneurs process information by using of both approaches; thus entrepreneurial opportunities are both discovered and created in dependence to combinations of information. Such conclusion is supported by Venkataraman (1997) that opportunity identiication depends on the information and the way it is processed by individuals. Using Ardichvili et al (2003, p.106), major factors that inluence the core process of opportunity recognition and development for media entrepreneurs include: entrepreneurial alertness; information asymmetry and prior knowledge; social networks; personality traits such as optimism, selfeicacy and creativity; and type of opportunity itself. One of the main sources of opportunity identiication for media entrepreneurs comes from social sources of information, such as industry and personal networks. Ozgon and Baron (2007) argue that informal networks have a direct efect on entrepreneurial alertness toward new opportunities. They articulate the four factors of mentor, family and close friend, informal industry network, and professional forums. Gibcus et al (2008) showed that many business owners acquire information from their contacts and Filion (2004, p.45) stresses on the role of information in opportunity identiication too, by depicting that opportunity recognition requires intuition, intuition requires understanding and understanding needs a certain level of knowledge. Rae (2002) emphasizes on the role of social sources of information by arguing that the entrepreneurs in creative industries are immersed in the environment and culture of the society of which they work, and this immersion enables them to recognize opportunities that might not be apparent for “The Outsiders”. Innovation "The concept of innovation and newness, as act of introducing something new and relevant, is an integral part of entrepreneurship." (Hisrich and Ramadani, 2017, p.4) and inevitably of media entrepreneurship. Khajeheian (2014) articulates innovation in characteristics, process, distribution channel, usage, etc. Ireland et al. (2003, p. 981) introduce disruptive and sustaining innovations. Taken from deinition of Tushman and O’Reilly (cited in Ireland et al. 2003), disruptive innovation "produces a revolutionary change in markets while sustaining innovation leads to incremental change. Sustaining innovation, also has said as incremental innovation, is the exploitation of existing capabilities that contribute to the competitive advantage of the irm". Based on Khajeheian (2013, p.128), radical or disruptive innovation is derived from identifying and exploiting entrepreneurial opportunities through new combination of resources to create new capabilities that lead to competitive advantages. According to him, this type of innovation requires a high R&D budget and a mentality of 98 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition failure acceptance. Such attributes rarely existed in developing countries and mostly existed in knowledge societies and leading organizations; so in contrast to the radical innovation, imitative innovation is the more common and successful type of innovation in developing societies or organizations with low R&D budgets, such as SMEs, family businesses, public organizations and most types of organizations and enterprises that cannot invest on research and development. Imitative innovation is one of the key success factors for media entrepreneurs, because they launch a previously successfully tested the product/service in a new market without taking major risks of investment on a radical or even incremental innovation. Present article suggests that imitative innovation is one of the most important drivers of media entrepreneurship, by showing an opportunity of value delivery in a market with low risk and investment. Khajeheian and Tadayoni (2016) explained another aspect of media entrepreneurs: their advantage in the contract. Their study on public service broadcast showed that large media companies do not outsource the production to the users or small media irms, mainly for the reason of distrust on delivery of professional quality. Rather, they prefer to commission parts of their product provision to medium-size enterprises that entitle reputation, history and brand. Such media enterprises commission the contract to the smaller enterprises. The advantage of large companies is in their resource and operations; the advantage of small enterprises is innovation (Eliasson and Eliasson, 2005); and the advantage of medium size enterprises is their ability to produce contracts (Khajeheian and Tadayoni, 2016). As Baumol (2002) expressed, most revolutionary new ideas have been provided preponderantly by independent innovators and it is very likely to be continued in the future. So investing on user innovation provides media companies with sources of creativity and may lead the enterprises to have access to successful innovations, and then to use their resources towards the marketing and commercialization of those innovations, as Hoag explicitly argues that “there is no denying that big media corporations can be innovative, but they are better capitalized to commercialize innovation” (2008, 75) and Fuerst (2010) supports her arguing that expansion of media companies to larger sizes provides new business opportunities for small media irms. The connection of users with large media companies, is a complex process that mostly happens by intermediators and media entrepreneurs, who reduce the risk and facilitate cooperation between large media companies and small enterprises; and by such activities, increase eiciency and efectiveness of media markets. RESEARCH METHOD As the aim of this research is to obtain a speciic and detailed deinition for media Entrepreneurship, a Delphi method was selected as a research method. The reason for this selection is the success of this research method in similar cases e.g. Omer Attali and Yemini (2016), Capra et al (2014), Lohuis et al (2013). The Delphi technique is a widely used and accepted method for gathering data from respondents within their domain of expertise (Hsu and Sandford, 2007). 99 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 To achieve the research purpose and based on the knowledge acquired from literature, a multiple-stage analytical process was designed and conducted. In the irst phase, a selected group of scholars and researchers were being asked for the provision of a deinition of media entrepreneurship. After collecting the primary deinitions, the building elements were extracted. In the second phase, the extracted elements were ofered to the sample and then asked for proposals towards a revised deinition. In the third phase, they were being asked to read an abstract of 27 papers on the subject of entrepreneurial activities in media industries; and to revise their deinition again. Finally, the results collected and used for a consensual deinition of media entrepreneurship. The study sample were scholars, alumni and researchers in the ields of media management, entrepreneurship and occasionally some related ields. The sample were selected from scholars with personal and academic relationship with the researcher - so they accepted the invitation to participate in the panel, either in the physical presence or via video conferencing. FINDINGS First phase: The most frequent words in deinitions of research sample is presented in the Table 1. Table 1. The building elements in definition of media entrepreneurship in the first phase. Word (and variations) Individual (Person, man or woman, entrepreneur) New (New product/service, novel, never-experienced) Change (Change in technology, preferences, demography, lifestyle, economy, society.) Value (Creation and delivery) Word (and variations) Internet/Communication Technology/IT/Web 2.0 (Social media, web stores,) Technical expertise/knowledge/skill Segment/niche market Need/demand Innovation (Creativity, Creative idea) Content (Media content, clip, advertising, attractive content) Opportunity (Recognition, identification, evaluation, exploitation, development) Creativity/Creative/Talent Resources Culture/Cultural Control (including ownership, access, permit, authority to use) Profit/Income Venture/Small Business/Firm (Organizational form) Restriction/Barrier Market Efficiency 100 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition Table 1. The building elements in definition of media entrepreneurship in the first phase. Continued Word (and variations) Management Ownership Cooperation/Collaboration Corporate/Organization Business model Recombine/mix/configure User/consumer/customer Idea Advertising Society/Social responsibility Word (and variations) Monopoly/Competition Advantage Technology Risk Team/Teamwork Internal/external Turbulence /Complicated market Two sided market Public/Private Job creation/economic growth Second phase: In the second phase and based on the understanding of the building elements of other deinitions, the proposed deinitions were converged. Table 2 presents the elements of the second round of deinitions. Table 2. The building elements in definition of media entrepreneurship in the second phase. Word (and variations) Individual (Person, man or woman, entrepreneur) Innovative / New Environment (Change, Complexity, Turbulent) Value (Creation and delivery) Creative Idea Corporate Entrepreneurship Ownership Profit/income/money Media content User data User behavior Benefit Word (and variations) Media Platform Resource Market Segment Need/demand Venture Creation Management Control Opportunity Transformation/Recombination/ Configuration Advertising 101 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 Third phase: After proposing revised deinitions in the second round, 27 abstracts of papers with some relevance to the subjects presented in the sample. Then, the author of this paper composed consensual elements in diferent deinitions. The deinition was revised frequently based on the sample. Finally, some keywords were selected to be included in the deinition. Two deinitions were proposed, one was a comprehensive deinition, another was shorter and more brief one. The idea was that the comprehensive deinition helps the researchers to deeply understand the diferent aspects of media entrepreneurship, and the shorter deinition to enhance a quicker understanding of media entrepreneurship. At the end, the sample was sifted to selected a comprehensive deinition as well as a consensual deinition of media entrepreneurship. Table 3. The building elements in definition of media entrepreneurship in the third phase. Word (and variations) Individual Innovative (Radical/incremental/ imitative) Environment (Change, Complexity, Turbulent) Value (Creation and delivery) Creative Idea Media content Ownership Profit/income/money Benefit User data User behavior Word (and variations) Media Platform Resource Market Segment Need/demand Venture Creation Management Control Opportunity Transformation/Recombination/ Configuration Advertising THE CONSENSUAL DEFINITION As it’s explained in the beginning of the paper, the main aim of this research is to provide a consensual deinition of media entrepreneurship. For provision of such deinition, it is necessary to extract the important elements of this concept. The most important factors of media entrepreneurship understood as: • Media entrepreneurship is associated with value proposition (creation and delivery); • Media entrepreneurship may include the new venture creation, or entrepreneurial management of an existing irm, or may occur solely as an individual efort; 102 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition • Media entrepreneurship is based on consistent opportunity identiication and evaluation; • Media entrepreneurship delivers a value on one or more of following types: content, platform, emotion, audience reach; • Media entrepreneurship can be an innovation or innovative use of business model elements; • Media entrepreneurship is based on permanent screening of environment change; • Media entrepreneurship integrates and recombine resources; • Media entrepreneurship closely works with innovation in user side; • Media entrepreneurship is not merely for proit, but sometime happens to obtain a beneit such as social responsibility, attention attraction, a favorite behavior or attitude, etc. Based on above mentioned indings and revised deinitions of the sample group, the author suggests a comprehensive deinition for media entrepreneurship. By presenting this deinition to the sample, no one rejected this deinition. A comprehensive deinition of media entrepreneurship is as follow: “Media entrepreneurship is taking the risk to exploit opportunities (creation/ discovery) by innovative use of (radical/incremental/imitative) resources (ownership/control) in transform of an idea into activities to ofer value (creation/delivery) in a media form (content/platform/user data) that meets the need of a speciic portion of market (businesses or consumers), either in an individual efort or by creation of new venture or entrepreneurial managing of an existing organizational entity and to earn beneit (money/ attention/favorite behavior) from one of the sources that is willing to pay for (direct consumers, advertisers, data demanders or any customer of generated information of consumers).” This deinition has been depicted in the igure 1. 103 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 Figure 1. Elements of Media Entrepreneurship Definition. Opportunity: • Creation • Discovery Customer Type: • Consumers • Advertisers • Data demanders • Other customers Innovation: - Radical - Incremental - Imitative Innovation: • Individual • New Venture Creation • Corporate • Entrepreneurship Opportunity Benefit: • Money • Attention • Energy/favorite behavior Organizational form: • Individual • New Venture Creation • Corporate • Entrepreneurship Market Needs: • Niche market • Mass market • Risk Innovation Customer Benefit Media Entrepreneurship Organizational form Market Resource Process Value Media Offer Media Offer: • Media Content • Media Platform • User Data Resource: • Ownership • Control Process: • Idea • Transformation • Commercialization Value Proposition: • Value Creation • Value Delivery There are some special points in this deinition that are discussed in detail among the members of the research sample: 1. Media entrepreneurship is a risk-taking activity, with chance of market success or fail. 2. Media entrepreneurship is based on opportunity, either created by entrepreneur (Schumpeterian perspective), or discovered as an existed unmet demand in the market (Kirznerian). 3. Media entrepreneurship is based on an idea that is based on recognized opportunity. 4. To execute the creative idea, media entrepreneur requires to ind, hire, collect, or contract with production resources, such as team, talents, suppliers, distributers, promoters, raw materials, knowledge and technic, infrastructure and other essential resources. 104 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition 5. Innovation is an integral part of media entrepreneurship, but in many cases an imitative innovation and implementation of a successfully tested innovation uses for a new market or application. Media entrepreneurship doesn’t necessarily base on ownership of resources, but control of what is owned by others by means of loan, borrowing, hiring, renting, etc. is a solution. 6. Media entrepreneurship is strongly associated with value proposition to the target market. This value can be created by the media entrepreneur’s activity (such as produced media content) or by created by others and delivered to the target market by media entrepreneur (such as user generated content, thirdparty production, etc.). Before the pervasiveness of social media, platforms were notimportance in the study of media. For instance, Hoag emphasized on the media content and believes that the critical decision rule in media industry is who creates and controls the media content (2008, p.75). But today platforms play a critical role in access to users and importance of the number of users of a platform is much more than the number of attendances of a media content. Thus, media entrepreneurship in an internet-based context implies the content production, platform provision, business model invention and data analysis, while in traditional media, media entrepreneurship mostly implies on content creation. 7. The proposed value of media entrepreneurs, that difer them from other entrepreneurs, is in the form of media content, media platform for third party or user generated contents, user data for customers of those data. 8. Media entrepreneurship is based on the meet of needs in a segment of market, either businesses or consumers that is willing to pay the requested beneit in return of perceived value. 9. Media entrepreneurship can be happened by new venture creation, or inside an existing organization (corporate entrepreneurship) or occur out of a business organization form, as an individual efort. 10. Media entrepreneurship is mostly for the generation of income, but not always. Sometime a media entrepreneur aims to attract public attention to a societal issue, such as environment or a discrimination; or to encourage a behavior, such as voting to a special person/party or bill. 11. Media entrepreneurs may follow various business models to earn the intended beneit from diferent parties: directly from consumers (such as subscription, sell of copy, pay per view or click, etc.), from advertisers, from demanders of user data, or any possible customer. 12. The commodity that a media entrepreneur sells could be a product, service, data, users (followers or members) or even the media entity itself (such as a channel, brand, etc.) 13. Media entrepreneurship is an intentional action, but opportunity identiication that could be either intentional or unintentional. This discussion supports by Emami and Dimov (2016) that implied on entrepreneurial intention of media entrepreneurs. 105 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 Table 4, illustrates the developments in deinition of media entrepreneurship. Table 4. Definitions of media entrepreneurship. Researcher Hoag (2008) Achtenhagen (2008) Definition of media entrepreneurship The creation and ownership of a small enterprise or organization whose activity adds at least one voice or innovation to the media marketplace How new ventures aimed at bringing into existence future media goods and services are initially conceived of and subsequently developed, by whom, and with what consequences Khajeheian and Roshandel Arbatani (2011) The creation and ownership of a small enterprise or organization whose activity adds at least one voice or innovation to the media marketplace Khajeheian (2013) Individuals or small firms of which use their own or others’ resources to create value by extracting opportunities via offering a service or product that is consist of any type of innovation in any of product/ service characteristics, process, distribution channel or place, or different innovative usage, to the media market, or any other market that media is its main channel of interaction Khajeheian (2017) Media entrepreneurship is taking the risk to exploit opportunities (creation/discovery) by innovative use of (radical/incremental/imitative) resources (ownership/control) in transform of an idea into activities to offer value (creation/delivery) in a media form (content/platform/user data) that meets the need of a specific portion of market (businesses or consumers), either in an individual effort or by creation of new venture or entrepreneurial managing of an existing organizational entity and to earn benefit (money/attention/favorite behavior) from one of the sources that is willing to pay for (direct consumers, advertisers, data demanders or any customer of generated information of consumers). SUGGESTIONS FOR FURTHER RESEARCHES and Singer (2016) in a study of entrepreneurship in journalism showed that the concept of entrepreneurship in media is deined broadly and loosely, but in a generally positive way. The current research contributed with the provision of a more speciic deinition of media entrepreneurship. In order to deepen the knowledge in this ield, more research into the various dimensions of this concept is required. The study of media entrepreneurship in diferent levels of analysis enriches the literature and deepen our knowledge of this subject from diferent aspects. Borrowing from Audretsch, et al (2017) and De Bruin et al (2007), determinants of entrepreneurship lie in a complex interplay of micro (irm or individual level), meso (industry level) and macro (policy) level factors and it is applicable for media entrepreneurship. It is almost impossible to study the entrepreneurial activities of an individual without considering the efect of the environment; to study the irm level using limited available resources of small firm to pursue opportunities recognized to gaining profit from a specific niche market 106 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition entrepreneurship without the efect of government policies and also people who run the irm; or to study media entrepreneurship policy without the efect of irms and individuals’ actions. The relationship of diferent levels of analysis is interdependent and it is important to study media entrepreneurship with an attention to the inluence of other levels. Therefore, and with respect to its importance, it is strongly suggested that researchers of this ield study the media entrepreneurship in levels of micro, meso and macro and to explore the interrelationship of levels. Macro level: Majority of entrepreneurship studies of media were mostly micro or industry level (Hoag, 2008, p.74). However, a number of studies with focus on the macro level of media entrepreneurship have been published. Loucks (1988) implied that entrepreneurship is culture-based and the policy for promotion of entrepreneurship is a cultural policy. Rae (2002, p.59) explained that distinction of media irms and other production/service irms lies in cultural entrepreneurship. Dana and Dana (2005) points out that governments around the world should foster entrepreneurship by considering social and economic values and for this reason apply a universal framework across varied cultures is not applicable. Khajeheian (2014) studied media entrepreneurship policy and how the government may foster entrepreneurship in their societies by relevant policies. In 2016 he also stated that U.S communication act is a major determinant in promotion of media entrepreneurship. Meso level: Most of research on the subject of media entrepreneurship are in the irm level. Dennis et al (2006) in a study of strategies of media companies showed that digital technologies efect on operational levels of media irms such as hiring patterns and acquisition of creativity, analytical abilities, and technical knowledge. Khajeheian (2013) studied the commercialization of media entrepreneurs’ digital innovations at the level of irms. He proposed a framework of ive parts, including four controllable parts (Product, Resources, Enterprise, Strategy) and one out of control part of the infrastructure. Again Khajeheian (2016) studied audience commodiication as a business model for entrepreneurial media irms to motivate favourite behaviour in users by the rewarding system to engage more users. Micro level: Researches into the micro level study media entrepreneurs as individuals and aim to answer questions such as what is characteristics of media entrepreneurs, what derive people to act entrepreneurially in the media industry, and similar questions that are in relation with individuals’ intentions, actions and behaviours? Opportunity development that was discussed in the literature review section of this paper studies a part of the process of media entrepreneurship in the micro level. Hoag and Compaine (2006) interviewed fourteen media entrepreneurs to discover attributes of the “individual-opportunity nexus” that may be unique to media industries and media entrepreneurship. In another study, Achtenhagen and Welter (2003) studied female entrepreneurs in Germany and their relection in the German media. Such researches investigate the subject in individual level. 107 AD-MINISTER AD-minister Nº. 30 january-june 2017 pp. 91 - 113 · ISSN 1692-0279 · eISSN 2256-4322 Figure 2. Some suggested subjects for study of media entrepreneurship in different levels of analysis. Macro level: Policy, Regulations, Ecosystems, Governmental and International strategies, plans and actions that effect on entrepreneurship, economic trends, political issues, social changes, so on. Meso level: Strategic positioning, niche market, competency, emerging markets, business models, resource management, contracts, competitiveness, so on. Micro level: Characteristics and behavior of media entrepreneurs, creativity, talent, management, psychological drivers of entrepreneurship, alertness, design thinking, opportunity recognition, personal abilities, social ties, so on. Emerging trends that afect media entrepreneurship are important areas in the study of media entrepreneurship. In 2016, media market was still characterized as a twosided market, this implies on serving consumers via content and serving advertisers by audiences’ attention and time (Lowe, 2016; Doyle, 2016; Medina et al, 2016; von Rimscha; 2016). But this two-sided is evolving to a multi-sided market with regards to parties being served by media irms. For example, big data is a new and few-discussed source of income for media entrepreneurs. Collection of users’ information and selling of them is one growing business model. Also, there are new business models based on free delivery of value to consumers, aimed at growing the number of users and then selling of the media irm or product to a larger company. For example, by popularity of Telegram mobile messenger in Iran, an emerging business model is the sale of the administration of a channel with a large number of users. In this case the admins of a channel create or collect media content and deliver it to interested users to keep them as subscribers and then sell this channel at a price based on the number of followers. User commodiication became a popular model for media entrepreneurs in recent years, following the success of Google advertising model. Audience commodiication is the process where customers ofer themselves as a commodity to receive value from businesses that sell higher-value advertising opportunities (Khajeheian, 2016, p.44). The current use of Google services is a type of audience commodiication 108 AD-MINISTER Datis Khajeheian Media entrepreneurship: a consensual definition that consumers ofer their personal information and interests to beneit from the free services. Facebook users do the same to receive the value of this service by providing their personal information, their favorites, their moods, the places they have visited or plan to visit, etc. Another area with a poor research background is the measure of media entrepreneurship. Excluding Anne Hoag’s research in 2008, no other research in the subject of measures has been found. For such a broad and wide-deining concept of media entrepreneurship, understanding and identifying the measures play a determining role. Hoag suggests static and dynamic measures for media entrepreneurship, such as organizations-per-capita, turbulence, and nascent entrepreneurship. Rae implies that the vital factor in success of media entrepreneurship is the narration that led entrepreneur to the creation of a new venture: “The enterprises themselves are constructed by their founders through their discourse. They tell a good story” (2002, p.59). Also the life cycle of the media sector is an important factor in measuring, e.g. entrepreneurship in the publishing industry is in decline, while in telecommunication, broadcasting and cable, entrepreneurship is growing (Hoag, 2008). Conducting researches in the above mentioned subjects may open the door for better understanding of media entrepreneurship and may shed light on the unexplored aspects of this important and less-studied discipline. REFERENCES Achtenhagen, L. (2008). Understanding entrepreneurship in traditional media. Journal of Media Business Studies, 5(1), 123-142. Achtenhagen, L., & Welter, F. (2003). Female entrepreneurship in Germany: Context, development and its reflection in German media. New perspectives on women entrepreneurs, 71-100. Anderson, A. R., & Starnawska, M. (2008). Research practices in entrepreneurship Problems of definition, description and meaning. The International Journal of Entrepreneurship and Innovation, 9(4), 221-230. Backman, J. (1983). 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