Dimitar Hristov

Climate change is a major global challenge, and we as an industrial cluster that unites knowledge-based companies have to message to all that we, the business can play a critical role in addressing it.

So, we believe that by adopting sustainable practices, investing in sustainable technologies, supporting climate policies, and adapting to the impacts of climate change, businesses can help create a more sustainable future for all.

Here are a few ways businesses can approach climate change:

This short article is inspirated by our participation in the XD Media Hub project and our desire to share topics related to our cluster initiative called Innovation Hub for Creative and Media Industries.

The article presents the findings of research on the business models in the media industry and is based on the report The Innovation in Media World Report. It was found that in general there are 13 business models that media companies can implement in the marketplace. 

In this first part of the article, the first seven of the thirteen business models in the media industry are analysed below:

This is continuation of the article business models in media industry with presenting the next 6 models.

8. Agency Business Model

The model presumes creating internal agency in the media company. It is also one of the fastest growing sources of revenue for such companies. The expertise inside media companies is looking like an agency to more and more brands around the world. Many have given up trying to create branded content and media campaigns on their own, or even with traditional legacy agencies. As a result, many media companies that have created in-house agencies are seeing results that have come to represent from 5% to 60% of total revenue!

Financing climate innovation is one of the topics of the "Innovating for Climate Change & Sustainability Toolkit" which is being developed under the Erasmus+ Project "Collective Innovation to Fight Climate Change". 

The projected market value losses could rise by more than 200% if warming reaches 5°C as compared to 1.5°C. The socioeconomic impacts from climate change and extreme weather will be felt differently across different sectors. Research suggests that every dollar invested in climate adaptation could result in 2 to 10 USD of net economic benefit. So, investing in sustainable environment and innovation climate solutions is financially and strategically one of the best decisions for the companies including SMEs but the reality is slightly different.