A Study on the Evolution of MCN Services and Diversification of Revenue Models

A Study on the Evolution of MCN Services and Diversification of Revenue Models

The development of the Internet and mobile technology has brought various changes to society. In particular, the growth of video platforms such as YouTube has allowed those who have watched videos through legacy media to enjoy videos freely at the time and place they want. The freedom of time and space, consequently, has changed content use behavior, causing a paradigm shift in media consumption. It has brought unprecedented changes in media consumption patterns such as vertical media, and short-form content. Starting with the new social and cultural changes brought about by the YouTube platform, this paper aims to examine the changes in newly emerged MCN companies and the media industry. In particular, this paper shall examine in depth the implementation of novel revenue diversification strategies by MCN companies, who are aware the limitations of advertising revenue received from YouTube. Such revenue diversification strategies of MCN companies appear to be excellent examples to understand and analyze trends in management strategies, as well as new marketing strategies in the digital age. By examining the changed media industry's latest corporate management strategies, it is possible to derive two implications: management insight and sociological insight.