In the recent decades, the digital convergence brings together the telecommunications operators and entertainment media to provide new business opportunities. However, research on the emerging business models is limited. Especially, we lack knowledge about the environmental and technological mechanisms for the adoption of new business models. This paper proposes a framework for analyzing business model, which takes the dimensions of information technology and business environment into account. To justify this new framework, we further employ it to investigate two cases in the entertainment industry - MyShow and Super Girl - appeared in 2004 in China.