DIGITAL CONVERGENCE AND VALUE CREATION: TVONE’S STRATEGIC ADAPTATION TO THE DIGITAL LANDSCAPE

In the wake of the Analog Switch Off (ASO) in Indonesia since November 2022, the traditional television industry faces significant challenges, including a decline in viewership and a fiercely competitive advertising market. With over 40 digital channels available in Jakarta alone, compared to just 11 national television stations previously, and the growing dominance of digital media, traditional broadcasters are compelled to adapt. This study focuses on tvOne, a conventional television broadcaster, and its strategic responses to these challenges. Our research methodology employs a qualitative approach in order to extract valuable and insightful information from highly knowledgeable sources. To achieve this, we have conducted interviews with seasoned policymakers in tvOne's business strategy, as well as with professionals working in the digital division. By doing so, we aim to obtain a comprehensive understanding of the subject matter at hand. This will enable us to present a comprehensive and accurate report that will benefit the industry as a whole. The analysis reveals how tvOne leverages media convergence to transform digital threats into opportunities for value creation. Specifically, it explores tvOne's use of news broadcast footage and digital platforms like YouTube to carve out new economic niches. This case study contributes to the understanding of how television stations can utilize technology advancements to enhance the value of their offerings. It offers valuable strategies and recommendations for broadcasters navigating the rapid technological evolution in the digital era, underscoring the importance of adaptation and innovation in sustaining relevance and competitiveness.


INTRODUCTION
The increasingly fierce media competition in the digital era makes media companies try to do various ways to survive, as well as experienced by television media in Indonesia.Not only is the competition between old media and new media (internet) increasingly sharp in fighting for audience attention, television media in Indonesia also faces new challenges when the analog switch off is enacted.According to Nielsen Director Client Lead Selly Cahyani Putri said that the number of television viewers has decreased, from previously reaching 124 million at the beginning of 2023, and reaching 105 million after ASO was implemented (Anggraeni, 2023).In addition to the declining number of viewers, digital technology that allows the increasing number of television channels also makes the fight for advertising cakes even heavier.At least currently there are around 42 television channels that can be watched by people in Jakarta and its surroundings (Riyanto & Pertiwi, 2022) Menurut survei Global Web Index (GWI) pada kuartal II 2022 yang Although television is no longer the most widely accessed media, it turns out that in Indonesia television is still the most trusted media to find information.A research report launched by the Ministry of Communication and Information Technology (Kemkominfo) together with Katadata Insight Center (KIC) in 2022 shows that television is still a medium trusted by the Indonesian people to obtain information, although the percentage of value has decreased compared to the previous year (Santika, 2023).While social media although it is the largest source of information received by the public, the level of trust is only in second place after national television.The data is in line with a report from the Reuters Institute in its Digital News Report 2023.The results show that people get more information through online media including social media than television.However, at the level of trust, people trust news broadcast through television more than information obtained through social media.The report also states that online media and social media are indeed the most popular sources of information in Indonesia, but radio and television are still important for millions of people who are not online.By looking at the data above, can it be concluded that conventional television will die?A survey from IDN Research Institute in a report titled Indonesia Millennial Report 2022 provides data showing that it turns out that 85% of respondents still watch conventional television in the past month.But a journal that examined digital media consumption patterns and online news in Generation Z respondents had different results (Asmarantika et al., 2022).Generation Z respondents more often access digital format media in their daily lives, such as messengers or messaging application services (69.3%), social media (52.5%), digital audio (25%), video streaming and online media free access.The duration of generation Z in consuming digital media is also quite high, the answer most chosen by respondents is more than 8 hours.
From this exposure, it can be concluded that conventional media such as television is still needed as a trusted source of information, especially for millennials who are accustomed to the culture of watching television.While the younger generation also needs media to get credible information.This can be seen as an opportunity to expand the market niche while maintaining audiences who still have a culture of watching television conventionally.This method can be used as an effort to survive in the era of digital media.

LITERATURE REVIEW
Media convergence refers to the merging of different forms of media, such as television, radio, print, and digital platforms, into one integrated system.Media convergence is the integration of media through digitalization carried out by the media industry (Nugroho, 2020).Media convergence is carried out to produce and publish various media content through technological tools and infrastructure; the separate boundaries between print media, television media, radio, and the internet are increasingly blurred.Media convergence allows produced content and information to be conveyed through various channels and devices, such as computers, smartphones, tablets, televisions, and more.Technological developments and media convergence also affect the way content is produced, distributed, and consumed.For example, traditional media such as newspapers and television stations now also have digital content through their websites, mobile apps, or social media channels.Due to technological advancements and the popularity of streaming platforms, the way they access information and entertainment content has also changed.Many people are starting to turn to online streaming services to watch TV shows and movies, as well as social media, to get information quickly.This can then affect the number of conventional television viewers.The competition in the television industry in Indonesia encourages television stations to innovate in creating exciting and quality content to retain viewers.In addition, television stations are also required to be able to respond to technological developments in order to survive in the digital industry competition.One of his efforts is to take advantage of a new niche market in marketing his television shows.The trick is to reprocess the footage you have to upload on social media that is promising for business; one example is YouTube.So far, the footage owned is only used on one program or even only one day, and then "dies" without any continuation of its economic value.Meanwhile, the footage should be a company asset that can still be developed for its economic value in digital media.(Jenkins, 2018) mentioned that media convergence is the flow of content across multiple media platforms, industry cooperation of multiple media, and migration behavior of media audiences.The word convergence is used to describe industrial, cultural, social, and technological changes that come together from previous industries that are separate and associated with skilled workers.Convergence needs to be done by traditional television because the rapid development of technology causes digital media, such as social media, to develop unexpectedly.Social media, a product of Internet technology, has rapidly developed over time, according to (Thompson, 2011).This new method has caused a decline in commercial and business influence, resulting in a shift away from traditional media such as television and towards digital media.This new method has caused a decline in commercial and business influence, resulting in a shift away from traditional media such as television and towards digital media.To adapt, television must explore new approaches, one of which is to add a niche market in digital media.One way to achieve this is to utilize assets owned in the form of coverage footage or content in the form of event program shows to be uploaded to social media platforms such as YouTube.This can turn the assets owned into potential sources of income instead of letting them "die" in the library because their airtime on television has run out.
With advances in technology, the media hierarchy changes, which then affects the way the television industry creates, distributes, and exploits intellectual property rights (IPR) from assets owned so that profits from its management can be maximized (Doyle, 2016).The significance of television as a form of media and culture still exists, even in the era of multi-platform media (Weston, 2023).Based on demographic data, a significant proportion of young people consume new media, whereas older people do not and still watch television traditionally.These trends are influencing the way people interact with film and television media, and there is a need to explore how new media technologies can be applied to the film and television industry (Guo, 2023).When television and social media converge, new media channels play an essential role in attracting younger audiences to public service broadcasting, as explained by (Stollfuß, 2019) in a journal he https://ojs.transpublika.com/index.php/IJATEIS/E-ISSN: 2828-5425 5 wrote about the integration of television and social media in Germany.Digital media has completely changed the way news is distributed rapidly through various platforms such as television, online media, social media, and radio.
In the face of the digital era, media convergence is becoming increasingly crucial for television stations to add economic value to their content.This can be seen in the case study of the commodification of TvOne's audio-visual assets.The concept of convergence culture, where old and new media collide, has been studied extensively (Jenkins, 2018;Yenimazman, 2008).Commodification in communication, according to (Mosco, 2009), concerns three things namely the commodification of content, the commodification of audiences, and the commodification of labor.(Dolber, 2016) This process of commodification occurs in three areas: content, labor, and audience.Media content is considered a commodity offered on the market, and the information disseminated is controlled by what is in the market.In media logic, the process of producing content must generate profits.In the realm of content, commodification involves the transformation of communication goods such as news, entertainment, and information into tradable commodities (Dolber, 2016).This is evident in the media industry, where content is often produced and distributed based on market demand and profitability (Mosco, 2000).The commodification of content can lead to the prioritization of profits over the public interest and homogenization of media content.
The convergence resulted in television modifying audio-visual assets due to the need for television to adapt to the changing media landscape.Technological media convergence is another aspect of media convergence that has economic implications; (Ajetunmobi & Lasisi, 2022), in their research, show the convergence of social media, Facebook, and radio for content distribution in Nigeria.The convergence of technological media has sustainability implications and involves computational content.The convergence of analog media to analog media, such as print newspapers, is also an important aspect to consider (Fortunati & O'Sullivan, 2019).The cannibalization of formats and styles that exist today is the result of the convergence of different forms of media.The convergence of media and fashion, particularly in the realm of digital textuality, has also been explored (Fan, 2015).This convergence challenges the boundaries of traditional media.It highlights the dissolution of boundaries between different forms of media, further emphasizing the economic implications of media convergence and the changing nature of media consumption.
In the context of the convergence of television and social media, research has been conducted to understand the convergence process and its impact on television broadcasting companies (Yoedtadi et al., 2021).These studies aim to determine how social media and television can converge to improve the economic aspects of television broadcasting.The effect of media convergence on journalism performance has also been examined, analyzing the skills journalists need to deal with media convergence and how media convergence can affect journalists' well-being (Hamna, 2018).The economic implications of media convergence on journalism are significant, as they affect journalists' performance and well-being.Overall, media convergence plays a vital role in adding economic value to television shows in the digital age.It involves the convergence of different forms of media, such as old and new media, analog and digital media, and television and social media.This convergence has economic implications, including the https://ojs.transpublika.com/index.php/IJATEIS/E-ISSN: 2828-5425 7

RESULTS AND DISCUSSION
The phenomenon of media convergence significantly affects the television industry, especially in the digital age.Television stations must adapt to technological developments to survive and compete with other digital media platforms.One station that has successfully navigated this landscape is tvOne, which has leveraged its assets and embraced digital media to add economic value to its television shows.One of the critical aspects that tvOne focuses on is the use of news footage.With the development of digital technology and the widespread use of platforms like YouTube, tvOne has been able to reach a larger audience and generate additional revenue by reusing its news footage.By creating custom content and licensing it to online platforms, tvOne has been able to monetize its news footage and maximize its economic value.For example, tvOne has partnered with online news aggregators and social media platforms to distribute its news content.This not only allows tvOne to reach a wider audience but also generates revenue through advertising and licensing agreements (Newman, 2022).In addition, tvOne has recognized the importance of media convergence in reaching audiences across multiple devices and platforms.To adapt to this trend, tvOne has developed a mobile app and optimized its website for mobile users.This allows consumers to access TVOne shows and news content on their smartphones or tablets, further expanding the reach and economic value of television stations.In addition, tvOne has embraced social media as an important part of its media convergence strategy.The station actively engages with its audience on social media platforms and content development through YouTube.Content presented includes  sharing footage of the show and its news segments,  promoting discussions and  encouraging viewers to share their thoughts and opinions.tvOne's proactive approach to media convergence not only increases its audience engagement but also creates opportunities for additional revenue streams.By incorporating social media into its media convergence strategy, tvOne has been able to attract advertisers looking to reach highly engaged and loyal audiences.In addition, tvOne also recognizes the importance of audio-visual commodification in maximizing the economic value of its television shows.It involves the identification and exploitation of audio-visual assets that can be monetized through various means, such as licensing agreements, syndication deals, and product placements.tvOne has managed to commodify its news footage by reusing it for online platforms, reaching a larger audience and generating additional revenue.By harnessing media convergence and embracing new technologies, tvOne has been able to adapt to the digital age and maximize the economic value of its television shows.In the face of the digital age, tvOne has taken advantage of media convergence to increase the economic value of its television shows.Through the adoption of multi-platform distribution and the utilization of digital technology, tvOne has successfully expanded its audience reach and generated additional revenue.With the development of mobile applications and the optimization of its website for mobile users, tvOne has capitalized on the growing trend of consuming media on smartphones and other mobile devices.
This allows tvOne to cater to the preferences and habits of modern viewers, who increasingly rely on mobile platforms to access news and entertainment.In addition, tvOne has embraced the concept of audio-visual commodification to enhance its economic value further.This involves strategic identification and monetization of tvOne's audio-visual assets, such as news footage, through various means, such as licensing agreements (Cho et al., 2019).By licensing its news footage to other media, tvOne was able to generate additional revenue and reach a wider audience.Through media convergence, tvOne has been able to capitalize on new revenue streams and adapt to the changing digital landscape.Referencing the concept of media convergence, TvOne has successfully integrated social media into its strategy, attracting advertisers who want to engage with the highly loyal and connected (Rega, 2021).In today's digital age, the economic value of television shows is heavily influenced by media convergence (Benjamin, 2021).Media convergence refers to the merging of various media platforms, such as television, radio, print, and online, into one digital platform.This convergence is not only changing the way content is produced and consumed but also opening up new opportunities for revenue generation.One of the main drivers behind the economic value of television shows in the face of the digital age is the shift in news consumer behavior.Consumers are increasingly accessing news and entertainment content online through various digital platforms.As a result, television networks such as tvOne have recognized the need to adapt and embrace digital technologies to maintain their relevance and economic value.This shift in consumer behavior has led to a diversification of media revenue models, with advertisers increasingly choosing online platforms (Ittefaq et al., 2021).tvOne has responded to these changes by optimizing its website for mobile users, acknowledging the growing trend in consuming media on smartphones and other mobile devices.In addition, tvOne has capitalized on media convergence by incorporating social media into its strategy.By leveraging platforms like Facebook, Twitter, and Instagram, tvOne has been able to engage with its audience in new and dynamic ways.This not only enables audience interaction and feedback but also attracts advertisers who want to reach a highly connected and engaged audience.Through media convergence, tvOne has been able to capitalize on new revenue streams and adapt to the changing digital landscape.This is evident in the success of their social media integrations, which have attracted advertisers who want to engage with a highly loyal and connected audience.tvOne's strategic integration of social media has increased its economic value by providing advertisers with a platform to connect with a loyal and connected audience.The author made observations on tvOne and found that since 2019, the new business division is One Digital Media.This division has also received funding from YouTube to strengthen it.
This change in news consumer behavior also necessitated the commodification of tvOne's audio-visual assets.As consumers increasingly access online news and entertainment content, tvOne has realized the need to monetize its audio-visual assets to generate revenue.By offering subscription services, licensing deals, and advertising opportunities on their digital platforms, tvOne has been able to capitalize on the economic value of their audio and visual assets.This shift towards media convergence and commodification of audio-visual assets has posed both opportunities and challenges for tvOne.Adapting to the digital age and embracing media convergence has allowed tvOne to tap into new revenue streams and maintain its economic value.In addition to generating new revenue and increasing cost-effective exploitation of media resources, tvOne and other broadcasters have used a multi-platform strategy as a defensive approach to defend against declining traditional television viewership and advertising revenue.Through media convergence, tvOne has been able to expand its reach and adapt to the changing preferences of its viewers.The integration of social media platforms into tvOne's strategy has allowed the network to tap into a highly connected and engaged audience.
These integrations have attracted advertisers looking to reach these audiences and capitalize on the opportunities presented by media convergence.In addition to economic benefits, the convergence of media and the commodification of tvOne's audio-visual assets also bring challenges to the network.One of the challenges is the difficulty of generating revenue from online media content due to customer expectations of free access (Baumann et al., 2016).In addition to the apparent motive for generating new revenue and increasing cost-effective exploitation of media resources, many broadcasters see multi-platform strategies as a defensive approach to staying relevant to advertisers and audiences.The shift towards media convergence and commodification of tvOne's audiovisual assets has allowed the network to tap into new revenue streams and maintain its economic value in the face of the digital age.This adaptation is necessary to exploit the opportunities presented by media convergence fully.The integration of social media platforms and the use of digital technologies have become crucial in reaching younger audiences and diversifying revenue streams.The adoption of media convergence and commodification of audio-visual assets by tvOne and other broadcasters has been a critical strategy in maintaining economic value and tapping into new revenue streams.
The television industry has undergone significant changes in recent years due to the emergence of media convergence and the commodification of audio-visual assets (Loisa et al., 2020).Changes in consumer behavior and this shift towards digital platforms have made advertisers increasingly choose online platforms as their medium of choice.Media convergence has become a significant trend in the news industry as broadcasters aim to reach a wider audience and find new revenue streams.This paradigm shift has prompted media organizations, including tvOne, to develop potential new strategies such as content innovation, programmatic TV, and big data analytics to stay competitive.In addition, media convergence also requires broadcasters to create content suitable for multiple platforms to address the diversification of their revenue streams (Ittefaq et al., 2021).This shift towards media convergence and commodification of audio-visual assets has put pressure on traditional revenue and financing models for the TV sector (Raats & Jensen, 2021).To navigate this changing landscape, tvOne and other networks are adopting new business models, increasing audience engagement, and seeking innovative distribution strategies.Overall, the integration of media convergence and the commodification of audio-visual assets has become essential for television networks such as tvOne to adapt to the digital age and maintain their economic value.
As mentioned earlier, the emergence of media convergence and commodification of audio-visual assets has had a significant impact on the television industry.Consumer behavior has shifted towards digital platforms, leading advertisers to prioritize online platforms for their campaigns.This change in revenue models has put pressure on television networks' traditional revenue models, forcing them to adapt and explore new monetization opportunities.One of the main strategies used by television networks like tvOne is content innovation.To attract and retain viewers, program managers are constantly pushing the boundaries of storytelling and creating programs that capture viewers' attention.This approach not only helps differentiate their content from competitors but also allows them to explore new revenue streams through licensing and syndication deals.While these strategies may seem promising for televisions in adapting to the changing media landscape, it is essential to consider the potential weaknesses and challenges they may face.INFORMATION SYSTEM https://ojs.transpublika.com/index.php/IJATEIS/E-ISSN: 2828-5425 11

CONCLUSION
The phenomenon of media convergence has significantly transformed the television industry, compelling broadcasters like tvOne to adapt to the digital era's evolving landscape.By leveraging digital technologies and platforms, tvOne has successfully navigated the shift towards online media consumption, utilizing its audio-visual assets to create new revenue streams and enhance its market position.The station's strategic approach to media convergence-through the repurposing of news footage for digital platforms, embracing social media for audience engagement, and commodifying its content-illustrates a proactive response to the challenges posed by digital disruption.
This case study underscores the critical importance of innovation and adaptability in the television broadcasting sector.tvOne's efforts to exploit digital media not only extend its content's reach but also tap into new demographic segments, particularly younger audiences accustomed to consuming media across multiple platforms.The station's ability to monetize its assets in the digital domain highlights the economic potential of media convergence when effectively harnessed.In conclusion, the transition faced by the television industry in the digital age demands a reevaluation of traditional broadcasting models.Media convergence presents both challenges and opportunities for content creators and broadcasters.The successful adaptation of tvOne to this new media landscape serves as a valuable model for other broadcasters, emphasizing the necessity of embracing technological advancements, diversifying content distribution channels, and engaging with audiences in innovative ways to sustain and enhance economic value in a highly competitive market.