This study uses the global value chain (GVC) framework to analyze the globalization of television and argues that it has been driven by the dynamics of a newly formed TV content value chain. Distinct segments emerged as the chain globalized and firms sought a competitive advantage by
expanding internationally within their sector. This article focuses on four dimensions of the TV content value chain and, documenting the growth of transnational TV networks and formats, argues that the TV industry's millennial global shift was triggered by internationalization of the chain's
segments. Finally, it suggests that industry conglomeration should be comprehended in the context of Internet disruption and international fragmentation of production within expanding value chains.
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