Online Media in Fast-Growing Companies: Adoption, Usage and Relation to Revenues

Abstract

This study describes how fast-growing companies (specifically the Inc. 500) use online media and explores the relationship between combinations of these media, which we call usage patterns, and firm performance. We find that both the use of individual media and media usage patterns have changed between 2006 and 2010 among fast growing firms. Furthermore, we show that the complexity of a specific series of patterns co-varies with firm total revenues. This specific series is anchored on social networking sites. By estimating a system of structural equations we find that firm revenues and pattern complexity positively influence each other. Implications are discussed and future research directions are proposed.