Broadcasting vs. OTT Competition: How Legacy Networks and OTT Platforms Redefine the Market
Broadcasting vs. OTT Competition: How Legacy Networks and OTT Platforms Redefine the Market
Blog Article
Terrestrial broadcast series have long been established as widely recognized TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with global streaming giants, Watcha, and domestic platforms being leading competitors. As audience preferences evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is creating unique content and employing differentiated strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing stories with high mass appeal while maintaining traditional storytelling methods. In particular, they actively feature renowned leads to boost ratings and produce television series that appeal to a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their decades of industry presence and network legacy, they continue to offer traditional stories, ensuring consistent success. This allows audiences to explore different channels to engage with traditional content through various distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively adopt emerging trends and experimental formats, prioritizing artistic direction and artistry over mainstream success. Secondly, they offer tailored content that meets the needs of individual tastes, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to secure viewers not only within their region but also internationally. Through these methods, OTT services are building industry dominance in ways unlike traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly enter the digital entertainment industry, competition has escalated. For instance, KBS and a long-established broadcaster operate their own streaming platforms, 'KBSon' and 'wavve', respectively, making available their existing TV shows on digital platforms. This initiative helps preserve the market presence of legacy networks while attracting new viewership. Meanwhile, the growth of alternative digital platforms is reshaping viewing habits towards more user-controlled content access.
Conversely, OTT services are also enhancing their competitiveness by partnering with terrestrial broadcasters. Netflix has gained massive international recognition with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the drama production capabilities of Korean TV networks. This strategic alliance helps both parties leverage their advantages, fostering a richer content environment. As a result, the lines between terrestrial and digital platforms continue to become website less defined.
Ultimately, legacy TV series and OTT services are both competing and seeking collaboration through their respective market tactics. network-produced content maintain established storytelling and mass appeal, whereas digital platforms provide experimental and internationally appealing content. As collaboration and merging between these platforms continue to expand, audiences can expect a wider-ranging and elevated entertainment experience in the future.
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