DIGITAL TECHNOLOGY BASED BUSINESS MODEL DESIGN ANALYSIS

Abstract

This research investigates how digital technology aid in the development of new business models in the creative industries. A holistic business model framework was built through a thorough literature study, which was then utilized to assess empirical evidence from the creative industries. According to the findings, digital technology have permitted widespread changes in company structures, and several noteworthy patterns have emerged. However, the redesigned business models are frequently not 'new' in the sense of being unprecedented. Business model innovation primarily manifests itself in the use of digital technology to enable the deployment of a broader choice of business models than was previously available to a corporation. The increasing adoption of numerous business models as a portfolio inside one corporation is a key rising trend. This occurs in enterprises of all sizes when a single firm employs numerous business models to service distinct market groups, offer different products, or engage in multi-sided markets, or employs changing business models over time. A recursive learning process refines and extends the holistic business model framework, which can serve as a cognitive instrument for comprehending business models as well as a planning tool for business model improvements. The study advances our understanding of business model theory and how digital technologies enable business model innovation in the creative industries. Three new study topics for the future are emphasized.