Harvard Case - OpenSky.tv: A New Business Model-Content Creation, Curation, Consumption, and Commercialization
"OpenSky.tv: A New Business Model-Content Creation, Curation, Consumption, and Commercialization" Harvard business case study is written by Howard Pong Yuen Lam, Andrew Chi Fan Chan, Icy Fong Ling Ngai. It deals with the challenges in the field of Marketing. The case study is 11 page(s) long and it was first published on : May 3, 2019
At Fern Fort University, we recommend OpenSky.tv focus on a hybrid business model leveraging both free, ad-supported content and premium, subscription-based content. This strategy will allow them to attract a wider audience, generate revenue streams, and build a strong brand presence. We propose a phased approach to implementation, starting with strategic content creation and curation, followed by targeted marketing campaigns and expansion into new markets.
2. Background
OpenSky.tv is a startup founded by a group of experienced media professionals aiming to disrupt the traditional television industry by offering free, high-quality, and curated content. Their vision is to provide a global platform for diverse content, catering to a wide range of interests. The case study highlights their initial challenges, including funding, content acquisition, and audience engagement.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Experienced team: The founders bring extensive experience in media and entertainment.
- Global reach: The internet platform allows for potential global audience reach.
- Content diversity: OpenSky.tv offers a wide range of content, appealing to diverse interests.
- Free access: Free content attracts a large audience and builds brand awareness.
Weaknesses:
- Limited funding: Initial funding is insufficient for large-scale content acquisition and marketing.
- Content quality control: Ensuring consistent high quality across diverse content is challenging.
- Lack of brand awareness: OpenSky.tv needs to establish a strong brand identity.
- Competition: Established players in the streaming market pose a significant challenge.
Opportunities:
- Emerging markets: Growing internet penetration in developing countries presents a significant opportunity.
- Mobile-first strategy: Leveraging mobile devices for content consumption can expand reach.
- Partnerships: Collaborating with content creators and distributors can enhance content offerings.
- Data-driven marketing: Utilizing analytics to understand audience preferences and personalize content.
Threats:
- Competition from established players: Netflix, Amazon Prime, and other streaming giants dominate the market.
- Copyright issues: Ensuring legal compliance with content licensing is crucial.
- Changing consumer preferences: Rapidly evolving technology and consumer habits pose a challenge.
- Economic downturns: Economic instability can impact advertising revenue and subscription rates.
Market Segmentation & Targeting:
OpenSky.tv should focus on segmenting their target audience based on demographics, interests, and content preferences. This will allow them to tailor content and marketing strategies for different groups. Targeting specific niche markets with high-quality, curated content can help them differentiate from competitors.
Brand Positioning:
OpenSky.tv needs to establish a clear and compelling brand positioning that emphasizes their unique value proposition. They should focus on quality, diversity, and accessibility as key differentiators.
Consumer Behavior Analysis:
Understanding consumer behavior is crucial for OpenSky.tv. They need to analyze user data to understand content consumption patterns, preferences, and engagement levels. This information will inform content acquisition, marketing strategies, and product development.
Competitive Analysis:
OpenSky.tv needs to conduct a thorough competitive analysis to identify strengths and weaknesses of existing players. This analysis should focus on:
- Content offerings: Analyzing content genres, quality, and pricing strategies.
- Marketing strategies: Examining advertising campaigns, social media presence, and brand positioning.
- Business models: Understanding revenue streams, pricing models, and subscription plans.
Product Lifecycle Management:
OpenSky.tv needs to adopt a product lifecycle management approach to ensure continuous innovation and adaptation. This includes:
- Content development: Continuously acquiring new content, updating existing content, and ensuring quality.
- Product improvement: Introducing new features, enhancing user experience, and responding to user feedback.
- Product expansion: Expanding content offerings, exploring new markets, and diversifying revenue streams.
4. Recommendations
Phase 1: Content Creation and Curation (Year 1)
- Focus on high-quality, niche content: Develop a strategy to acquire and curate content that caters to specific audience segments.
- Partner with independent creators: Collaborate with filmmakers, artists, and content creators to secure exclusive rights and build a strong content library.
- Develop a robust content management system: Implement a system for content tagging, categorization, and search functionality to enhance user experience.
- Invest in content quality control: Establish a process for reviewing and approving content to maintain high standards.
Phase 2: Marketing and Growth (Year 2)
- Develop a multi-channel marketing strategy: Combine online advertising, social media marketing, content marketing, and influencer marketing to reach target audiences.
- Implement a data-driven approach: Utilize analytics to track user behavior, measure campaign effectiveness, and optimize marketing efforts.
- Leverage social media platforms: Engage with users on social media, promote content, and build a community around OpenSky.tv.
- Partner with content distributors: Explore partnerships with cable providers, mobile operators, and other platforms to expand reach.
Phase 3: Expansion and Monetization (Year 3 onwards)
- Introduce premium subscription tiers: Offer exclusive content, ad-free viewing, and additional features to premium subscribers.
- Explore new revenue streams: Consider partnerships with brands for product placement, sponsorships, and branded content.
- Expand into international markets: Target emerging markets with high internet penetration and growing demand for entertainment.
- Develop a robust customer relationship management (CRM) system: Track user preferences, personalize content recommendations, and provide exceptional customer service.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of OpenSky.tv's strengths, weaknesses, opportunities, and threats. They consider the company's core competencies, external customer needs, competitive landscape, and potential for growth. The proposed strategy balances the need for immediate revenue generation with long-term brand building and market expansion.
Assumptions:
- OpenSky.tv can secure sufficient funding to implement the recommended strategy.
- The company can successfully attract and retain high-quality content creators.
- Market demand for high-quality, curated content will continue to grow.
- OpenSky.tv can effectively leverage technology and data analytics to improve content delivery and marketing efforts.
6. Conclusion
OpenSky.tv has the potential to become a major player in the digital content landscape. By focusing on a hybrid business model, strategic content acquisition, targeted marketing, and continuous innovation, they can overcome initial challenges and achieve sustainable growth.
7. Discussion
Other Alternatives:
- Focusing solely on free, ad-supported content: This model may attract a large audience but could limit revenue potential and make it difficult to compete with established players.
- Launching a subscription-only model: This approach may generate higher revenue but could limit audience reach and brand awareness.
Risks:
- Failure to secure sufficient funding: Lack of funding could hinder content acquisition, marketing efforts, and overall growth.
- Competition from established players: OpenSky.tv needs to differentiate itself and offer compelling value propositions to compete with established streaming services.
- Changing consumer preferences: Rapidly evolving technology and consumer habits could impact content consumption patterns and require constant adaptation.
Key Assumptions:
- The company can successfully acquire and retain high-quality content.
- OpenSky.tv can effectively leverage technology and data analytics to improve content delivery and marketing efforts.
- Market demand for high-quality, curated content will continue to grow.
8. Next Steps
Timeline:
- Year 1: Focus on content acquisition, curation, and initial marketing efforts.
- Year 2: Launch premium subscription tiers, expand marketing campaigns, and explore partnerships.
- Year 3 onwards: Expand into international markets, diversify revenue streams, and continuously innovate.
Key Milestones:
- Secure funding for initial operations and content acquisition.
- Develop a robust content management system and quality control processes.
- Launch a successful marketing campaign to attract a large audience.
- Introduce premium subscription tiers and explore new revenue streams.
- Expand into new markets and build a global brand presence.
By implementing these recommendations and focusing on continuous innovation, OpenSky.tv can establish itself as a leading player in the digital content landscape and achieve its vision of providing a global platform for diverse and engaging content.
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Case Description
OpenSky.tv was founded in 2016 with the objective of getting people back to watching video content on television. The founder wanted all video content to be accessible through an Internet connection on the viewer's television. His company's platform located and brought together programs and videos that were of interest to each viewer, so viewers could have their own personalized video channel. One full year after its launch, OpenSky.tv wanted to focus on the Cantonese market, and then concentrate on Mandarin and English audiences. The founder was wondering what his platform's business model should be. How could he achieve his initial objective of creating a business-to-consumer (B2C) recommendation platform?
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