Harvard Case - The Canadian Television Industry Confronts Subscription Video on Demand
"The Canadian Television Industry Confronts Subscription Video on Demand" Harvard business case study is written by Adam Fremeth, Rod E. White, Kartik Rao. It deals with the challenges in the field of General Management. The case study is 12 page(s) long and it was first published on : May 4, 2016
At Fern Fort University, we recommend that the Canadian television industry embrace a multi-pronged strategy to combat the rise of SVOD services. This strategy should focus on innovation, content differentiation, and strategic partnerships to maintain audience engagement and profitability.
2. Background
The case study 'The Canadian Television Industry Confronts Subscription Video on Demand' explores the challenges faced by traditional Canadian broadcasters in the face of growing competition from SVOD services like Netflix and Amazon Prime Video. The industry is grappling with declining viewership, shrinking advertising revenue, and a changing consumer landscape.
The main protagonists are the major Canadian broadcasters, including CBC, CTV, and Global, who are struggling to adapt to the new media environment.
3. Analysis of the Case Study
Strategic Analysis:
Porter's Five Forces: The Canadian television industry faces intense competitive rivalry from both domestic and international SVOD players. The threat of new entrants is high, as the barrier to entry for streaming services is relatively low. Bargaining power of buyers is increasing as consumers have more choices and are increasingly price-sensitive. The threat of substitutes is also high due to the availability of free online content. The bargaining power of suppliers (content producers) is moderate, as broadcasters are increasingly reliant on independent production companies.
SWOT Analysis:
- Strengths: Strong brand recognition, established distribution networks, access to local content.
- Weaknesses: Dependence on advertising revenue, limited digital capabilities, inflexible business models.
- Opportunities: Embrace new technologies, develop original content, expand into new markets, forge strategic partnerships.
- Threats: Growth of SVOD services, declining linear television viewership, fragmentation of audiences.
Financial Analysis:
- The shift to SVOD is impacting advertising revenue, a key source of income for traditional broadcasters.
- The need for investment in new technologies and content production is putting pressure on profitability.
Marketing Analysis:
- Consumers are increasingly demanding on-demand content, personalized viewing experiences, and high-quality programming.
- Traditional marketing strategies are becoming less effective as audiences fragment.
Operational Analysis:
- Broadcasters need to adapt their operations to meet the demands of the digital age.
- This includes investing in digital platforms, developing new content delivery mechanisms, and streamlining production processes.
4. Recommendations
1. Embrace Innovation:
- Invest in digital platforms: Develop robust streaming services with user-friendly interfaces, personalized recommendations, and high-quality video streaming.
- Embrace new technologies: Explore the potential of AI and machine learning for content creation, audience targeting, and personalized recommendations.
- Promote digital content: Leverage social media and other digital channels to promote original programming and engage with audiences.
2. Differentiate Content:
- Focus on local and regional content: Invest in high-quality, culturally relevant programming that resonates with Canadian audiences.
- Develop original programming: Create unique and compelling shows that attract viewers and differentiate from SVOD offerings.
- Partner with independent producers: Foster a vibrant independent production sector to diversify content offerings.
3. Strategic Partnerships:
- Collaborate with SVOD providers: Explore joint ventures and content licensing agreements to reach wider audiences and gain access to new technologies.
- Partner with telecom companies: Leverage existing distribution networks to expand reach and offer bundled services.
- Form strategic alliances: Collaborate with other media companies to share resources, develop joint ventures, and create economies of scale.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with the core competencies of Canadian broadcasters, such as content creation and distribution, while embracing innovation and adapting to the changing media landscape.
- External customers and internal clients: The recommendations address the needs of both external customers (viewers) and internal clients (employees) by providing engaging content, a user-friendly experience, and opportunities for growth.
- Competitors: The recommendations are designed to differentiate Canadian broadcasters from SVOD services by focusing on local content, original programming, and strategic partnerships.
- Attractiveness: The recommendations are expected to improve audience engagement, increase revenue streams, and enhance profitability.
6. Conclusion
The Canadian television industry is at a crossroads. To thrive in the digital age, broadcasters must embrace innovation, differentiate their content, and forge strategic partnerships. By implementing these recommendations, the industry can adapt to the changing media landscape, maintain audience engagement, and secure a sustainable future.
7. Discussion
Alternatives:
- Merging with other broadcasters: This could create a larger entity with more bargaining power but might lead to job losses and loss of local content.
- Focusing solely on advertising-supported content: This could limit content diversity and fail to attract younger audiences.
Risks:
- High investment costs: Implementing these recommendations requires significant investment in technology, content development, and marketing.
- Competition from established SVOD players: The market is highly competitive, and it may be difficult to gain market share.
- Changing consumer preferences: Consumer tastes are constantly evolving, and it is difficult to predict future trends.
Key Assumptions:
- Consumers will continue to value high-quality, culturally relevant content.
- The Canadian government will continue to support local broadcasting.
- The industry will be able to adapt quickly to technological advancements.
8. Next Steps
- Develop a strategic roadmap: Outline a detailed plan for implementing the recommendations, including timelines, budget allocations, and key performance indicators (KPIs).
- Invest in technology and infrastructure: Upgrade digital platforms, develop new content delivery mechanisms, and invest in data analytics capabilities.
- Foster a culture of innovation: Encourage experimentation, collaboration, and risk-taking to drive innovation and creativity.
- Build strategic partnerships: Engage in discussions with SVOD providers, telecom companies, and other media organizations to explore potential collaborations.
- Monitor progress and adapt: Regularly assess the effectiveness of the strategy and make adjustments as needed.
By taking these steps, the Canadian television industry can navigate the challenges of the digital age and emerge as a vibrant and innovative force in the global media landscape.
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Case Description
In late 2015, developments in the Canadian television industry led the incumbent players to reconsider their traditional distribution strategies. The conflux of changes to technology, regulatory reforms, and consumption patterns was complicated by the entry of new players, forcing established firms to consider revising their business models. The regulated oligopolistic industry structure that once protected the players and ensured superior performance was under attack from many directions. The Canadian Radio-television and Telecommunications Commission, which regulated the incumbent players, was pushing for reforms, yet the ramifications of such changes remained unclear. The incumbents responded to the advent of subscription video on demand services that were enabled by widespread high-speed Internet access, the entry of new non-traditional competitors, and changing regulations. How would the industry evolve? What was the role of the regulator? How would customers respond to the new delivery options? How would the incumbent firms, the regulator, technology providers, and content developers and providers reconcile their ambiguous relationships?
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