ABSTRACT
This chapter presents a unique opportunity to look at the importance of innovation and innovative thinking to the long-term success of today's leading media and telecommunications companies. Digital media represents the artistic convergence of various kinds of hardware and software design elements to create entirely new forms of communication expression. From electronic commerce to music and video streaming, digital media has transformed the business of retail selling and personal lifestyle. Digital media is at the heart of today's communication revolution. Business model innovation involves creating entirely new approaches for doing business. Business model innovation is transformative; that is, it redefines the competitive playing field by introducing an entirely new value proposition to the consumer. Apple, Netflix, and Amazon.com each introduced a unique business model that fundamentally changed the competitive business landscape following their respective product launch. Each of the three companies discussed in the chapter were absolute game changers and had a transformative effect in the field of electronic commerce.
