Optimizing value creation and value capture with a digital multi‐sided business model

Abstract In digital industries, a multi‐sided business model architecture allows optimization of value creation and value capture for the growth and survival of innovative SMEs. The optimization of value creation and value capture in a multi‐sided business model is possible by creating complementary sides, which each independently add a part of the value proposition but are interdependent with regard to value creation and value capture. A multi‐sided business model can be built from an architecture of user community (with interdependent user categories in one market) or from an architecture of technical platforms (with interdependent platforms of diffusion in multiple markets). The combination of open cooperation with users regarding artistic content and the SMEs’ internal technology control optimizes economic value capture.