This article provides the first research on the importance of technological and environmental factors in the context of innovation and strategic management in the film industry. The study employs semi structured interviews, a systematic literature review (SLR) and a computer-assisted web interview (CAWI). First, based on the interviews and SLR, it identifies the most important technological and environmental film business model adaption factors, four in each category. Then, the CAWI results indicate that technological factors supported by social and economic changes substantially impact the film business models, while environmental factors are of minor importance, although noticeable. As with any research, ours also has some limitations. The surveys were conducted with a limited number of experts who agreed to participate in the study. At the same time, the findings of SLR depend on the researchers’ choice of searched keywords, the language of the scrutinised texts and the selection of databases.