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Business Model Design for Social Media Companies

In: Social Media Monetization

Author

Listed:
  • Francisco J. Martínez-López

    (University of Granada, Department of Business Administration 1)

  • Yangchun Li

    (Zhejiang University of Technology, School of Management)

  • Susan M. Young

    (Fordham University, Gabelli School of Business)

Abstract

The external environment of a social media company encompasses social, legal, and economic aspects that can significantly influence a firm’s strategy for monetization. For example, if a social media company breaches a user data protection law, it could incur a large fine or even be banned from offering social media service by user data protection organizations or legal institutions. A legitimate business model is of paramount importance for a social media company to achieve sustainable monetization. Business model design describes the pattern by which a company makes money. A business model includes three elements: content, structure, and governance.

Suggested Citation

  • Francisco J. Martínez-López & Yangchun Li & Susan M. Young, 2022. "Business Model Design for Social Media Companies," Future of Business and Finance, in: Social Media Monetization, chapter 11, pages 151-167, Springer.
    • Handle: RePEc:spr:fuobcp:978-3-031-14575-9_11
    DOI: 10.1007/978-3-031-14575-9_11
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