Heterodox approaches to save the day
A framework for analysing data-related innovation in legacy media businesses
Bibliographic Data
| ID | 11268027 |
|---|---|
| Authors | Hanna Jemmer (0000-0003-0427-1994, Tallinn University, Estonia, corresponding author), Indrek Ibrus (0000-0003-1524-270X, Tallinn University, Estonia) |
| Year | 2023 |
| Volume | 45 |
| Issue | 5 |
| Pages | 1050-1066 |
| Publication date | 2023-07-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Media Culture & Society (JOURNAL) |
| Journal identifiers | ISSN: 0163-4437 • E-ISSN: 1460-3675 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/01634437231155558 |
| OpenAlex | W4321330986 |
| Language | EN |
| Citations received | 3 |
| References cited | 36 |
That legacy media organisations are struggling in this era of global platformisation and datafication is well established. Yet, the power of platforms as well as critiques of them could be seen as being framed and facilitated by the prevailing forms of neoclassical economics. This paper addresses how analysis and planning of data-driven innovation in legacy media organisations could benefit from the perspectives deriving from heterodox economics. Using approaches within heterodox economics as a foundation, we build on two novel conceptual frameworks – innovation commons and cross-innovation systems, where decentralisation of media markets and collaboration between agents on different levels are central. Further, three tools – open data, blockchains and agent-based modelling (ABM) – offer ways to operationalise these frameworks. Central to these tools are further democratisation and growing complexity, openness and dynamism that enable media organisations to identify paths towards data-driven innovation that could improve the competitiveness of the legacy media industry in the platform economy
Commons · Decentralization · Democracy · Democratization · Dynamism · Economic system · Economics · Market economy · Media Industry · New media · Openness to experience · Political science · Politics · Public relations · Sociology · Digital Platforms and Economics · FinTech, Crowdfunding, Digital Finance · Private Equity and Venture Capital
National Innovation Systems
Governing the Commons
Innovators in Digital News
Platform Power and Policy in Transforming Television Markets
The Platform Society
Value of Everything
An evolutionary theory of economic change
Technological Revolutions and Financial Capital
Creative Industries and Economic Evolution
Social network markets
Decentralized Autonomous Organization
Media Economics
On the Digital Semiosphere
Dealing with digital intermediaries
The Complexity Era in Economics
On the barriers for local government releasing open data
The Internet of Landlords
The Isolation of Innovation
Digital watchdogs? Data reporting and the news media’s traditional ‘fourth estate’ function
Driving factors of service innovation using open government data
What is journalism
The Rise of the Platform Business Model and the Transformation of Twenty-First-Century Capitalism
| Citations per year | 1.5 |
|---|---|
| Citation span | 2024 - 2026 (3) |
| Highly cited | No |