The Growth Strategies of South Korean Real-Time News Site, OhmyNews: The Challenges
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Code :BSM0020
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Region : South Korea
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Evolution of OhmyNews When Oh Yeon-Ho (Oh), former writer for progressive magazines, worked for the small left-wing magazine ‘The Monthly Mahl’ in the late 1980s, he was shunned by all reporters from leading newspapers and from government pressrooms. In 1994, Oh wrote a scoop story on the American military accident at No Gun Ri, a reported massacre of South Korean refugees byUSmilitary forces, during the KoreanWar. Itwas initially ignored by the South Korean press, but in 1999 after the Associated Press, a US news agency, wrote about the same incident, local newspapers followed suit.He became frustrated by conservative papers’ limited points of view... Problems As a pioneer,OhmyNews faced unique difficulties. First of all, it was the complete demolition of conventionalmedia logic and the concept of journalists. The citizen reporter concept demolished the concept of professional reporters and the concept of articles. The conventionalmedia did not understand it, and they treatedOhmyNews as unconventional, saying, "What the hell is that?" Among the various difficulties, the real onewas the problemof funding.At first itwas impossible to find investors. For three years from its inception, every month OhmyNews had a deficit of about 20 million won (about $17,000)... Growth Strategies As OhmyNews started earning profits, Oh planned to export his idea and go global. In January 2004, OhmyNews announced its aimto become a ‘ThirdGeneration’ Internet newspaper with multimedia as its core. As OhmyNews grew, it expanded into othermedia likeweb-casting,web radio, sometimes text-casting, and aweekly print version. In February 2004,OhmyNews’Web broadcasting unit,OhmyTV, started "CitizenAnchor News" and chose several people as anchors for 20-minute programs. On February 22nd 2004, during the 4th anniversary celebrations of OhmyNews, Oh launched an English-language version of it,OhmyNews International (OMNI)... |
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