Market analyses show that some cloud providers are significantly more successful than others. The research on the success-driving business model characteristics of cloud providers and thus, the reasons for this performance discrepancy is, however, still limited. Whereas cloud business models have mostly been examined comprehensively, independently from the distinctly different cloud ecosystem roles, this paper takes a perspective shift from an overall towards a selective, role-specific and thereby ecosystemic perspective on cloud business models. The goal of this paper is specifically to identify the success-driving business model characteristics of the so far widely neglected cloud ecosystem’s core roles, IaaS and PaaS provider, by conducting an exploratory multiple-case study. 21 expert interviews with representatives from 17 cloud providers serve as central data collection instrument. The result is a catalogue of generic as well as cloud-specific, subdivided into role-overarching and role-specific, business model characteristics. This catalogue supports cloud providers in the initial design, comparison and revision of their business models. Researchers obtain a promising starting and reference point for future analysis of business models of various cloud ecosystem roles.