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http://dx.doi.org/10.14400/JDC.2020.18.7.177

Creative Industry Digital Transformation Case Study: Market Reorganization Strategy and Platform  

Lee, HoGeun (Department of Business Administration, Yonsei University)
Lee, SeoYoung (Department of Performance and Media, DongYang University)
Publication Information
Journal of Digital Convergence / v.18, no.7, 2020 , pp. 177-188 More about this Journal
Abstract
In the digital world, creative industries such as music, movies, and drama have been the most impacted by digital transformation. As these contents were converted to a digital format of 0s and 1s, the business model changed and so did the rules of competition in the market. Apple, Spotify, and Netflix were quick to ride the digital transformation wave to become market leaders in the creative industry. This study reviews case studies in the creative industry to grasp the important factors necessary for market restructuring using digital technology. It was found that companies that set visions, platform, and open innovation as business strategies were able to achieve critical mass and become market leaders. These three elements are commonly found in the contents industry. On the other hand, companies that did not embrace digital innovation have become victims of digital darwinism. By analysing the experience of digital product innovation through case studies in the creative industry, we can derive implications for digital transformation in the 4th industrial revolution.
Keywords
Creative industry; digital transformation; digital product innovation. Strategy; Apple; Spotify; Netflix;
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