In this chapter, Lovink and Rossiter argue that the field of media studies has yet to develop a theory of itself. Audience studies investigated fandom and the production of meaning, textual analysis preoccupied itself with signification processes attached to content, and political economy turned its gaze on institutional power. Medium theory, while close to the authors' own interests, still falls short, they argue, because it never changed the dialectic between old and new media or gave the relation a productive twist. Medium theory established a continuum between old and new media without considering how the media form itself gives rise to the production of new concepts. Media studies desperately needs new concept production, the authors a...