The world of audiovisual online markets is rapidly changing. Not long ago, it was dominated by linear television, transmitted terrestrially, through cable networks or via satellite. Recently, streaming services such as Netflix, YouTube, Amazon Prime and others have emerged as new suppliers of audiovisual content. In this quickly changing industry, competition interrelations between such different formats such as traditional TV, videos on YouTube, and streaming via Netflix are subject to controversy. In particular, doubt is cast on services such as YouTube exerting competitive pressure on services such as Netflix and traditional TV. Based upon a survey with 2920 participants, we provide an empirical analysis of consumption behavior of audiovisual contents. Using descriptive and analytical statistics, including multiple equation models, we show that there are specific areas within audiovisual content markets, where YouTube exerts considerable competitive pressure on both Netflix and classic TV, for instance, through prime time video entertainment. However, our analysis yields differentiated results as we also identify areas, where competition intensity between different service types appear to be low, for instance, through daytime and regarding the intention to shorten waiting time.
The strong growth of different types of online video-on-demand (VoD), ie nonlinear audiovisual media services, including both Paid-for VoD like Amazon Prime and Netflix and Advertised-financed VoD like YouTube increasingly challenges the leading position of “traditional” (terrestrial, cable, satellite) television, ie linear audiovisual media services. Competition policy decisions in such dynamic markets are always particularly challenging. The German competition authority was presented such a challenge when, at the beginning of the 2010s, German television providers sought to enter online VoD markets with the help of cooperative portals. We review the antitrust concerns that were raised back then in an ex post analysis. We derive four aspects, in which the previous antitrust analysis cannot be upheld from today’s perspective. First, relevant implications of modern platform economics were neglected. Secondly, some inconsistencies in the assessment of the two projects appear to be inappropriate. Thirdly, the emerging competitive pressure of international VoD providers was strongly underestimated. Fourthly, the question of market power in online advertising markets looks very different at the end of the decade.
Dieser Beitrag fasst die ökonomischen Besonderheiten von Unterhaltungsmärkten zusammen und legt dabei einen besonderen Fokus auf Digitalisierungseffekte. Dabei werden die Aspekte Erfahrungsgüter und Qualität, Fixkostendegression & Güterheterogenität, Superstareffekte, die Rolle (digitaler) Medien, sowie Preis-und Geschäftsmodelle diskutiert. Ein wesentliches Ergebnis der Betrachtung ist, dass Unterhaltungsmärkte im digitalen Zeitalter anfällig werden für typische Wettbewerbsbeschränkungen in digitalen Ökosystemen. Die Autoren unterstreichen diesen Befund mit einer Auswahl an relevanten und aktuellen Wettbewerbsproblemen und -fällen. Dabei zeigt sich, dass (i) die prowettbewerbliche Wirkung der Digitalisierung auf Medienmärkte fragil ist und des aktiven wettbewerbspolitischen Schutzes bedarf, (ii) nicht-horizontale Verflechtungen in digitalen Ökosystemen erhebliche Anreize zu behinderungswettbewerblichen Strategien wie Selbstbevorzugung, Monopolisierung und Raising Rivals Costs mit sich bringen und (iii) bisher funktionierende Abhilfemaßnahmen unter den Rahmenbedingungen digitalisierter Medien-und Unterhaltungsmärkte wohlfahrtssenkende Wirkungen entfalten können. Daher bedarf es einer Modernisierung der Wettbewerbsordnung für die Unterhaltungsindustrien.
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