“Owned Media”: Developing a Theory from the Buzzword

There are signs that the boundaries between brand and media management are disintegrating. Brands are being equipped with a media function, which means that they are taking over typical media activities and services such as entertainment, information or social networking. The result is a new phase of brand communication, often referred to as ‘owned media‘. This paper outlines the results of a two-phase online Delphi study with 26 professionals and academics in the field of brand and media management. Using a grounded theory approach, the study identifies the main categories (causes, contexts, consequences, conditions) for a theory of owned media across all disciplines including print, TV, mobile and online. The results show that ‘owned media’ is more than just a buzzword of the digital era. According to the experts, there is evidence of a fundamental innovation in brand management in the form of a general extension of brand functions by a media function, which is implemented as brand-owned media. Therefore, the value of a brand will depend substantially on its value as a medium.