Strategy for the Cultural Contents Industry to Secure Competitive Advantage Using Fourth Industrial Revolution Technology

Abstract

With the coming of the fourth industrial revolution, cultural contents industry requires a new strategy to enhance its competitive advantages. As a result, governments and companies have been focusing their efforts on finding new business models and expanding the value chain in order to respond to the paradigm shift in a timely manner. This study aims to suggest new business model frameworks and strategies to create a paradigm shift by converging the characteristics of the fourth industrial revolution and cultural contents industry such as publishing, game, broadcasting, and character industry. First, we discuss how to upgrade cultural contents industry with the fourth industrial revolution technology and then suggest new contents business models and the change of value chain in the cultural contents industry. Finally, we consider strategies of innovation process development in the cultural contents industry. This study will contribute not only to economic policy-making but also to the business strategy of the company.