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This paper explores how innovation emerges in the media through the views of journalists who are leading the process of newsroom change in Spain. Data were collected from semi-structured interviews with 20 journalists working in some of the most innovative outlets, according to the 2014 Index of Journalism Innovation in Spain (García-Avilés, Carvajal-Prieto, De Lara-González, & Arias-Robles, 2018). The results highlight the importance of innovations in content production, internal organization, distribution, and commercialization as the drivers of change in the media industry. Our study also reveals several factors that shape both the practice and implementation of innovations in newsrooms. We draw on these factors to outline a model of diffusion of media innovation.