This article identifies the business models of leading Webcasters in the United States and South Korea and proposes a cross-cultural framework to analyze the determinants of business models. The file transmission methods, content strategies, and revenue sources of clicks-and-bricks and pure-play Webcasters were compared in the study. After analyzing the business practices of 48 leading Webcasters--using a content analysis of their sites--we found that the content aggregator model and the branded content model are the 2 most commonly used business models of leading Webcasters in the United States and South Korea. Although clicks-and-bricks and pure-play Webcasters in both countries have a similar reliance on advertising as their major source of revenue, they employ different content strategies to their own media's advantages. Korean Webcasters are more likely to use pay-per-view as a revenue source than U.S. Webcasters. [ABSTRACT FROM AUTHOR]