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 popular TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) services are internet-based streaming platforms, with global streaming giants, Watcha, and Wavve being leading competitors. As audience preferences evolve, competition between network-produced series and OTT services has become fierce. Consequently, each platform is producing exclusive releases and employing distinct strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing stories with widespread popularity while maintaining traditional storytelling methods. In particular, they actively cast star actors to increase viewer engagement and produce narratives that appeal to a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their long broadcasting experience and brand trust, they continue to present familiar content, ensuring consistent success. This allows audiences to have multiple options to engage with traditional content through various mediums.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing strategies distinct from network-based television. Firstly, they actively adopt new genres and innovative storytelling, prioritizing originality and narrative depth over mainstream success. Secondly, they offer tailored content that meets the needs of individual tastes, targeting unique fan bases. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to secure viewers not only domestically but also across different cultures. Through these approaches, OTT services are building industry dominance in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly expand into the streaming space, competition has intensified. For instance, KBS and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, making available their existing produced series on digital platforms. This strategy helps preserve the market presence of established TV channels while expanding their digital reach. Meanwhile, the emergence of competing streaming networks is reshaping viewing habits towards more flexible viewing options.
Conversely, streaming providers are also enhancing their competitiveness by working alongside terrestrial broadcasters. Netflix has gained massive international recognition with K-content hits like 'Squid Game' and 'Hellbound', leveraging the high-quality filming standards of traditional industry leaders. This collaboration helps both parties complement each other’s strengths, fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to become less defined.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and working together through their respective here differentiation strategies. Terrestrial dramas maintain classic formats and mass appeal, whereas OTT services provide genre-defying and cross-border content. As synergy and cooperation between these platforms continue to grow, audiences can expect a richer and elevated media landscape in the future.
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