Understanding Impact Business Models: Arts, Media & Culture

What is the intent of the Impact Business Model?    

What are some examples of companies that have this impact?    

My company may be eligible for this IBM. How do I open this IBM in the B Impact Assessment?    

How do I assess my company’s eligibility for this Impact Business Model?    

My company may be eligible for this IBM. What supporting information do we need to provide?    

Concepts in the B Impact Assessment    

What is the intent of the Impact Business Model?

The Arts, Media & Culture Impact Business Model (IBM), located within the Customer Impact Area, identifies various approaches businesses can use to positively impact society through arts, culture, and communication and engagement platforms.

Supporting or preserving culture in need of preservation is valuable to society, as safeguarding cultural heritage, such as artifacts or traditional practices, maintains communities' sense of belonging and shared identity while also providing valuable historical insight into the past. Exposure to original art plays a crucial role in expanding individuals' perspectives by stimulating intellectual curiosity and fostering personal growth. Independent journalism empowers informed citizenship by promoting transparency, accountability, and diverse perspectives. Civic engagement initiatives encourage active participation in societal issues, which cultivates empathy, enhances critical thinking skills, and drives meaningful social change.

How do I assess my company’s eligibility for this Impact Business Model? 

Consider this section for your company’s impact if your company generates revenues from a product or service that:

• Preserves culture (e.g., supporting cultural events, preserving historic production methods), or

• Offers, creates, or enables the creation of original art, or,

• Has a core purpose of independent journalism, or,

• Has a core purpose of civic engagement or civil-society-focused media
  
  

For companies whose products meet the “preserves culture” criteria, the culture in question needs to be demonstrated as being under threat (e.g., indigenous cultures are often under threat worldwide, but many specific subcultures, such as music genres, are not).

Products that themselves are original art, or promote original art, would capture their impact in this section. Original should be considered as a “novel creation” in one creative media (e.g., graphic design, painting, photography, music, etc.)

"Civic engagement" or "civil-society-focused media" refers to media platforms dedicated to promoting meaningful dialogue and raising awareness of societal issues. It includes companies that provide news and information that people need to have a say in how their cities, regions, and countries are run. These outlets foster active public participation in social and democratic processes, empowering individuals to engage in activities such as voting, advocacy, and public debate. Typically working closely with civil society organizations and community groups, this media type supports a more informed and engaged citizenry.

What are some examples of companies that have this impact?

• Company organizing cultural events to preserve culture in need of preservation;

• A space that sells local art or original photograph work; 

• Live music performances/events; 

• Independent broadcasted news, newspapers, and media that promote awareness of issues of public concern.

Please note that these examples are illustrative and non-exhaustive. 

My company may be eligible for this IBM. How do I open this IBM in the B Impact Assessment? 

If you are considering opting into this IBM, you will have to answer specific questions about the impact of your product/service that will determine which Impact Business Models you see in your BIA. These questions, called gating questions, ensure that you see the content that is most relevant to your company in your assessment. 

To find the gating questions for the Arts, Media & Culture IBM, navigate to the Customer Impact Area and search for the questions titled “Customer Impact Business Model Introduction” and “Customer Focus of Product or Service.”  Respond “Yes” to these questions. 

This will open the “Beneficial Product Type,” which requires the following answer option selected:

To ensure that the Arts, Media & Culture Impact Business Model shows up, answer the gating questions as explained above. Any deviation from this will prevent the IBM from becoming visible in your BIA. 

My company may be eligible for this IBM. What supporting information do we need to provide?

Depending on the specific product description selected, you may be asked to provide different types of supporting evidence. Some types of documentation to consider:

• Documentation about cultural traditions supported by the product/service and science-based evidence (or from specialized organizations) that supports culture needs preservation.

• Portfolios of original art or music, product or service business descriptions (e.g., on websites), photographs of venues or events, last fiscal year project list, and summaries with information about clients’ projects or services. 

• For companies whose product is independent journalism, provide sample media (videos or print), conflict or interest/ ethics policies, and fact-checking processes.

Concepts in the B Impact Assessment

Beneficiary - An individual for which your company intends to provide a positive impact through its products/services. For some companies, "beneficiaries" and "customers/clients" mean the same thing, while for other companies, they will be distinct.
For example, a company that sells professional development courses to individuals would consider both its customers and beneficiaries to be the individuals it serves. However, a company that sells solar-powered lanterns to NGOs in emerging markets, which in turn distributes them to underserved individuals, would consider its clients to be the NGOs and its beneficiaries to be the end-users of its product.
Near-term outcomes - This refers to the immediate or near-future results or consequences of a particular event, decision, or action. These outcomes typically occur within a relatively short period, ranging from a few days to a few months. Near-term outcomes are often tangible and measurable, and they can influence subsequent actions or decisions. Unlike outputs, which focus on what is produced/delivered, near-term outcomes focus on the impact or changes that occur as a result of the outputs. They are the effects or consequences of utilizing or implementing the outputs.
Long-term outcomes - The results or consequences that occur over an extended period, usually spanning months, years, or even decades. Long-term outcomes often have a broader impact and may be less immediately visible or measurable than near-term outcomes. For instance, long-term outcomes in the context of environmental conservation could include the restoration of an ecosystem, the reduction of carbon emissions over several decades, or the preservation of endangered species.