Availability of fast and ubiquitous communications networks and the advent of powerful mobile devices such as mobile phones, tablets and wearable technologies have created new opportunities for media economics and how media is curated and consumed. The next generation of media economics and the effect of crowd sourcing, collective intelligence and role of Data Science will be discussed. Students will be exposed to new business models and will learn the importance on product design, and digital media entrepreneurship, its requirements and best practices.