Abstract

The media content market is rapidly reorganizing around global OTTs. Global OTTs are leading the domestic content industry. The problem that arises here is the regulatory imbalance between traditional broadcasting and new OTT. The Broadcasting Act is based on a terrestrial-centered broadcasting regulatory system and has evolved to include new media as they emerge due to technological advancements. As a result, traditional broadcasting, which is subject to the Broadcasting Act, is heavily regulated, while OTT, a new platform, is excluded from regulation. There is a strong argument for bringing OTT and broadcasting under the same regulatory framework.
 Since OTT does not transmit to the public, it does not fall under the concept of broadcasting under the Broadcasting Act. Those who argue for a constitutional broadcasting concept believe that the legislator can form a broadcasting concept, so it is possible to regulate OTT by amending the Broadcasting Act. However, the constitutional broadcasting concept is a legal concept from the past when the influence of terrestrial broadcasting was huge, and it is not valid in today's diversified media environment. Legislation that includes OTT in the broadcasting concept goes against the very nature of broadcasting. It is necessary to enact legislation that creates a new concept that encompasses both OTT and broadcasting, such as the European Union's Audiovisual Media Services Directive.
 It is not an easy task to completely reorganize the broadcasting law and establish a horizontal regulatory system that regulates all video services, including OTT. In Korea, revising the broadcasting law is a highly political issue. The task of reducing the strong public ideology of the broadcasting law and ensuring fair competition among video services is likely to lead to political debate. As the environment of the media content ecosystem is rapidly changing, it is important to prioritize the reform of the regulatory system. It is most urgent to revolutionize the excessive regulations imposed on traditional broadcasting to enable fair competition between traditional broadcasting and OTT. It is realistic to pursue a horizontal regulatory system transformation, including OTT, as a mid- to long-term task. Considering the public's high expectations for public responsibility in broadcasting, legislation that separates public media from commercial media is a feasible way forward.

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