Study on the Strategy of Breaking the Circle Based on Migu Video in the Context of New Media

Abstract

In the ever-evolving media landscape, numerous emerging video platforms continually rise and fall. As a newcomer in the long-form video industry, Migu Video confronts a significant challenge in devising an operational strategy to break into a market dominated by Tencent, iQIYI, and Youku. In recent years, Migu Video gained substantial user traction during the Beijing Winter Olympics and the 2022 World Cup, owing to its extensive sports event copyrights, briefly securing the top position in the long-form video sector. However, as the initial hype subsides, Migu Video once again lags far behind the three major video platforms in terms of daily users.Migu Video, primarily focused on sports events, naturally lacks the diversity of content such as TV dramas, movies, and variety shows that the three major platforms offer. Moreover, each of these platforms also holds a share of sports event copyrights, further diminishing Migu Videos competitive edge. Leveraging its partnership with China Mobile and certain technological advancements, Migu Video has distinguished itself with its black technology, enhancing the user experience within its client application. Simultaneously, the platform is enhancing the quality of its original variety show, Boiling Up! Commentator, making it accessible to non-sports enthusiasts, with the aim of retaining users based on its content capabilities. Migu Video has made initial strides in developing its strengths, and its current focus is optimizing its unique attributes to successfully disrupt the existing market dominance.