European TV institutions were hit by new media and global economic recession. Advertising revenue plummeted by 16%. At the same time, new media advertising showed double-digit growth. Faced with the impact of new media, what strategies are adopted by foreign traditional TVs and how effective are they?
Competitive Strategy Analysis
According to game theory, the traditional TV competition strategy in the face of new media should tend to be non-cooperative. But under a complex technological system, no company can develop and use all resources. Whether cooperation is more depends on transaction costs, company structure, and whether it is in the interest of maximizing media efficiency.
Faced with the vigorous development of social media platforms such as Facebook, YouTube and Twitter, traditional TV adopts different countermeasures, which can be roughly divided into three types: creating new media platforms such as CBS, and adopting joint strategies such as videos on YouTube and Netflix. The website broadcasts its own video programs; it invests in video websites and collaborates on the capital level, such as Hulu.
Traditional TV and new media cooperation can use the new media technology to accelerate the time for traditional TVs to enter new markets, reduce financial and operational risks, reduce product costs, better meet audience needs, and achieve global expansion.
Co-building a business ecosystem
For a long time, traditional TVs have content advantages in the value chain, and the produced content is transmitted to viewers through cable, satellite, etc., and then the audience's attention resources are sold to the business owners in the form of advertisements. Fundamentally, television's value industry is a linear one-to-one relationship.
With the new media entering the content and broadcasting links, the market structure has been broken, but at the same time, the digitalization and integration of the media has created new opportunities for the development of traditional television. The multi-screen spread of content makes it difficult for any operator to play the role of controller.
The era of media integration offers many possibilities for the exploration of television service innovation and business models. The cooperative relationship is reflected in copyright distribution, content licensing, revenue sharing, joint investment promotion, and mutual investment. At the same time, cooperation is not limited to Taiwan, but also involves other parties in the television industry value chain, such as both content delivery and consumer parties. Will participate in it.
After sorting out, we can see that there are “four major protagonists†in the partnership: One is the most common in the television ecosystem, namely independent content producers, such as pay-channel HBO, Disney, etc., and television broadcasters, such as the British BBC and the United States. Fox Television, etc., who use content to attract advertisers to serve users on a multimedia platform; second, content distribution and operators, to provide cross-platform services for subscribers, such as Sky TV UK Sky, US Satellite Radio TV Dish and Aussie Wired TV network Foxtel; the third is online video sites, such as YouTube, Netflix, the use of "search-play-sharing" approach to global expansion, to provide services for users; Fourth, consumer electronics suppliers, such as Samsung, through the sale of the Internet Products, access to television services, profit.
It is estimated that the global television industry market in 2017 will reach 37 billion U.S. dollars, 70% of which will be occupied by traditional television broadcasters and a few new media such as YouTube, Netflix, Hulu, and iTunes. It can thus be seen that the establishment of cross-platform cooperation between content providers and broadcasters and the establishment of cooperative relationships are still the main strategies for foreign traditional TVs to maintain their advantages in the context of the Internet.
Policy concerns
In a highly market-oriented environment, TVs are under pressure from falling advertising and changes in the behavior of viewers. It is an inevitable trend for new media to operate. Success stories also tell us that TV broadcasters can benefit from the video market by working with competitors.
However, everything has double-sided properties. Previously, the Big Three of the BBC and others hoped to build a separate website to fight against YouTube through a project called "Project Kangaroo" but the plan was rejected. European relevant regulatory agencies believe that such monopolistic cooperation will generate non-competitive behavior, affect innovation, and may also increase prices and affect user choice. It is reported that Germany’s anti-monopoly agencies have banned similar acts twice, because big companies adopt a joint strategy, which will cause widespread social concern. In fact, YouView has entered Europe with more than 500,000 households as of 2014 and its joint venture format has not affected competition and innovation.
From the media's point of view, cooperation with direct competitors will bring about an increase in revenue, and by seizing the strategic opportunity for the development of new media and formulating an effective strategy, risks can be dispersed. However, where is the boundary of such cooperation, it still needs more practice and argumentation.
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