||Bachelor thesis “Innovative process – theory and application on media market” deals with application theory of innovation, mainly in sense of Schumpeter, to media markets. It describes in brief Schumpeter’s theory of creative destruction in respect of current view of innovations. In cooperation with distinctive features of media product and market it analyzes in which way innovation process, in this specific industry, is distinguished from innovation in common sense. It is focused on factors, which shape innovations in media industry – economies of scale, concentration of ownership and regulation, and mutual relationship among them. On basis of described relationship it balances Schumpeterian notion of economic growth against actual development in media industry, which has been going through turbulent structural changes since 1980s. Thesis discusses sources of these changes as well as their context and impacts on innovative process. As an illustration of innovative technology it gives internet and its influence on the oldest mass medium – newspapers and answers the question if the entry of internet to media market corresponds with Schumpeter’s creative destruction.