Handbook of Social Media Management Value Chain and Business Models in Changing Media Markets Media Business and Innovation
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Media Business and Innovation Mike Friedrichsen Wolfgang Mühl-Benninghaus Editors Handbook of Social Media Management Value Chain and Business Models in Changing Media Markets Media Business and Innovation Series Editor: M. Friedrichsen, Berlin, Germany For further volumes: http://www.springer.com/series/11520 http://avaxhome.ws/blogs/ChrisRedfield . Mike Friedrichsen • Wolfgang Muhl-Benninghaus€ Editors Handbook of Social Media Management Value Chain and Business Models in Changing Media Markets Editors Mike Friedrichsen Wolfgang Muhl-Benninghaus€ Institute for Media Business Institute for Media and Music Science Media Business Transfer Center Humboldt University Berlin, Germany Berlin, Germany ISBN 978-3-642-28896-8 ISBN 978-3-642-28897-5 (eBook) DOI 10.1007/978-3-642-28897-5 Springer Heidelberg New York Dordrecht London Library of Congress Control Number: 2013933243 # Springer-Verlag Berlin Heidelberg 2013 This work is subject to copyright. 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Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com) Contents Part I Introduction The Social Media Management Chain, How Social Media Influences Traditional Media ........................................ 3 Mike Friedrichsen and Wolfgang Muhl-Benninghaus€ Part II Management with Social Media Traditional Media Companies in the U.S. and Social Media: What’s the Strategy? ............................................... 9 Alan B. Albarran and Terry Moellinger Social Media in Companies. Integrated Approach for a Social Media Strategy ................................................ 25 Mike Friedrichsen Some Economics of New Media Content Production and Consumption, and Strategic Implication for Media Companies ................. 49 Marco Gambaro How (Social) Media Can Change “Change” in Organizations ....... 59 Holger Sievert and Astrid Nelke Employees’ Conceptions of How Management Can Operationalize Employee Involvement .................................... 73 Stavros Georgiades Book Industry Business, Concentration, Internet and Social Media of Management and Marketing .............................. 87 Paulo Faustino v vi Contents New Venture Creation in Social Media Platform; Towards a Framework for Media Entrepreneurship ................................ 125 Datis Khajeheian New Marketing Communication in Social Media Business ......... 143 Wolfgang Muhl-Benninghaus€ Social Networks as Marketing Tools for Media Companies ........ 161 Alfonso Sa´nchez-Tabernero, Julia´n Villanueva, and Jose´ Luis Orihuela Managing New(s) Conversations: The Role of Social Media in News Provision and Participation ................................. 179 Franc¸ois Nel and Oscar Westlund Social Media: Managerial and Economic Opportunities and Challenges .......................................... 201 Francisco J. Pe´rez-Latrel and George Tsourvakas Part III New Value Chain with Social Media Social Media, Aggregation and the Refashioning of Media Business Models ................................................. 219 Charles Brown How Media Companies Should Create Value: Innovation Centered Business Models and Dynamic Capabilities ..................... 239 Hans van Kranenburg and Gerrit Willem Ziggers Media Management and Social Media Business: New Forms of Value Creation in the Context of Increasingly Interconnected Media Applications ............................................ 253 Reinhard Kunz and Stefan Werning Managing Social Media Value Networks: From Publisher (Broadcast) to User-Centric (Broadband-Narrowcast) Business Models ......... 269 Zvezdan Vukanovic Two Faces of Growth: Linking Customer Engagement to Revenue Streams ................................................ 289 Biser Zlatanov Keys to Monetize Social Media in the Audiovisual Business ........ 311 Mo´nica Herrero and Mercedes Medina Digital Hollywood: How Internet and Social Media Are Changing the Movie Business ....................................... 327 Alejandro Pardo Contents vii Distributing Audiovisual Contents in the New Digital Scenario: Multiplatform Strategies of the Main Spanish TV Networks ........ 349 Enrique Guerrero, Patricia Diego, and Alejandro Pardo Facebook: A Business Perspective on the Power of Intelligent Networking and Social Media ......................................... 375 Richard A. Gershon Multimedia Strategies for FM Radio Stations in Moscow .......... 391 Elena Vartanova, Mikhail Makeenko, and Andrei Vyrkovsky Social Media in Russia: Its Features and Business Models ......... 405 Marianna Blinova China’s Media Industry: Landscape and Development ............ 417 Min Hang Part IV Forms and Content of Social Media Social Media Strategies and Practices of Integrated Media Companies ........................................ 431 Piet Bakker, Sanne Hille, and Marco van Kerkhoven “Telekom hilft”: Customer Service in the Social Web ............. 443 Andreas H. Bock Online Radio: A Social Media Business? ....................... 455 Paul Dwyer Platform Leadership in Online Broadcasting Markets ............ 477 Tom Evens Ad Addressability and Personalized Content in IPTV Markets ...... 493 Christoph Fritsch The Social Media War: Is Google+ the David to Facebook’s Goliath? ............................................... 513 Richard Ganahl Applications for the Media Sector to Leverage Content in Social Networks ............................................... 533 Jochen Spangenberg and Birgit Gray Star Management of Talent Agencies and Social Media in Korea .... 549 Moonhaeng Lee Predicting the Future of Investor Sentiment with Social Media in Stock Exchange Investments: A Basic Framework for the DAX Performance Index .................................................. 565 Artur Lugmayr viii Contents Branding with Social Media at RTS .......................... 591 Ste´phane Matteo, Giulia Spolaor, and Cinzia Dal Zotto Social Television, Creative Collaboration and Television Production: The Case of the BBC’s ‘The Virtual Revolution’ .................... 603 Nicholas Nicoli Evolution of Strategy and Commercial Relationships for Social Media Platforms: The Case of YouTube ............................ 619 Sonya Yan Song and Steven S. Wildman Part V Social Media: Impact and Users Social Media and New Audiences as a New Challenge for Traditional and New Media Industries .................................. 635 Germa´n Arango-Forero and Sergio Roncallo-Dow Towards a Typology of Strategies for User Involvement ........... 657 Arne H. Krumsvik Social Media Monitoring Tools as Instruments of Strategic Issues Management ............................................ 671 Johanna Grublbauer€ and Peter Haric Social Networks: The Question on Efficiency Remains ............ 689 Harald Rau How to Engage the Audience? A Study on Using Twitter to Engage Newspaper Readers ....................................... 703 Aldo van Weezel and Cristo´bal Benavides Blogs and Social Media: The New Word of Mouth and its Impact on the Reputation of Banks and on their Profitability ............. 715 Eleftheria (Roila) Christakou and George-Michael Klimis Social Networks and Media Brands: Exploring the Effect of Media Brands’ Perceived Social Network Usage on Audience Relationship . 737 Sylvia Chan-Olmsted, Moonhee Cho, and Mark Yi-Cheon Yim Social Media Involvement Among College Students and General Population: Implications to Media Management ................. 751 Louisa Ha and Xiao Hu Customer Integration and Web Interactivity. A Literature Review and Analysis of the Role of Transaction Costs in Building Value Webs . 775 Paul Murschetz Contents ix All Businesses are Media Business: The Impact of Social Media on the Healthcare Market .................................. 795 Alexander Schachinger The Impact of Facebook on News Consumption ................. 805 Agnes Urban and Tamas Bodoky The Usage and Advertising Effects of Social Media in China ....... 819 Li-Chuan