Currently, many people consider media to be the most entrepreneurial industry of all. Digitization had radically altered the way media content is produced, distributed, and consumed, leading to the emergence of many business opportunities. Much of the innovation in the industry is driven by media entrepreneurs. However, the level of innovation and rate of entrepreneurship vary widely among different media sectors. In Europe, more than one third of media companies are young firms, and the media sectors with most young firms are miscellaneous publishing activities (such as magazines) as well as motion picture production companies and allied services. In the United States, nearly all media sectors have been found to be more entrepreneurial than any other U.S. manufacturing or service industry. Many new media start-ups ...