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 dramas have long been established as mainstream TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) services are web-powered streaming platforms, with global streaming giants, Watcha, and Wavve being representative examples. As audience preferences evolve, competition between network-produced series and OTT services has become fierce. Consequently, each platform is developing original productions and employing adaptive strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with broad audience reach while maintaining traditional storytelling methods. In particular, they actively cast renowned leads to increase viewer engagement and produce narratives that resonate with a broad spectrum of viewers, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and brand trust, they continue to present familiar content, ensuring stable viewership ratings. This allows audiences to have multiple options to engage with traditional content through various distribution channels.
Differentiation Strategies of OTT Services
OTT platforms are expanding their subscriber base by employing approaches distinct from network-based television. Firstly, they actively embrace unconventional narratives and experimental formats, prioritizing artistic direction and narrative depth over mainstream success. Secondly, they offer tailored content that aligns with individual tastes, targeting specialized demographics. Lastly, they focus on producing multinational content aimed at the expanding international scene, allowing them to attract subscribers not only domestically but also internationally. Through these strategies, OTT services are redefining the market in ways distinct from legacy channels.
Competition and Collaboration Between Platforms
As major TV networks increasingly penetrate the streaming space, competition has intensified. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own streaming platforms, 'KBSon' and 'MBC Digital', respectively, distributing their existing broadcast content on internet-based distribution channels. This strategy helps preserve the market presence of legacy networks while attracting new viewership. Meanwhile, the emergence of alternative digital platforms is changing consumer behavior towards more flexible viewing options.
Conversely, OTT services are also expanding their dominance by collaborating with traditional TV networks. Netflix has more info gained worldwide success with K-content hits like the breakout survival thriller and 'Hellbound', leveraging the high-quality filming standards of traditional industry leaders. This synergy helps both parties complement each other’s strengths, fostering a more dynamic industry. As a result, the boundaries between network TV and streaming continue to fade.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and finding common ground through their respective market tactics. network-produced content maintain traditional genres and broad accessibility, whereas OTT services provide experimental and globally targeted content. As collaboration and integration between these platforms continue to develop, audiences can expect a wider-ranging and enhanced media landscape in the future.
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