关键词: 网络视频平台, 流量水平, 网络外部性, 双边定价, 广告投放

Abstract: Online video platforms are an emerging form of two-sided markets that connects consumers and advertisers by offering consumers video content paired with advertisements. These platforms generate revenue from both sides: consumers pay membership fees, while advertisers are charged ad rates. To explore the dynamics of such platforms, this paper develops a game model that incorporates typical features of online video platforms, including customer streaming levels, ad aversion, and network externalities. It investigates how these factors influence the platform’s decisions regarding service modes (free versus hybrid), two-sided pricing (membership fees and ad rates), and advertisers’ advertising decisions. These findings reveal that the platform’s choice between free and hybrid service modes depends on a cost threshold—determined by the maximum customer stream level, the proportion of consumers with high ad aversion, and advertiser-side network externalities. Specifically, the platform adopts the hybrid mode when the ad-acceptance cost for highly ad-averse users exceeds the threshold; otherwise, it opts for the free mode. Moreover, the maximum level of customer stream positively affects ad rates in both service modes. In the hybrid mode, an increase in customer stream level leads to lower membership fees and higher optimal advertising volumes. These effects vary depending on the chosen service mode. Additionally, advertiser network externalities positively influence both optimal advertising volumes and ad rates, with stronger effects observed in the free mode compared to the hybrid mode. Conversely, customer network externalities negatively impact membership fees on the platform.

Key words: online video platform, customer stream level, network externality, two-sided pricing, advertising