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 widely recognized TV shows, produced and broadcast through major network broadcasting stations. In contrast, streaming services are web-powered streaming platforms, with Netflix, Watcha, and Wavve being leading competitors. As audience preferences evolve, competition between terrestrial dramas and digital streaming platforms has intensified. Consequently, each platform is developing exclusive releases and employing distinct strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with broad audience reach while maintaining time-honored formats. In particular, they actively feature renowned leads to increase viewer engagement and produce narratives that capture the interest of a wide range of age groups, thereby securing a broad viewer base. Additionally, leveraging their decades of industry presence and brand trust, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to explore different channels to engage with long-standing formats through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their influence by employing approaches distinct from network-based television. Firstly, they actively embrace unconventional narratives and experimental formats, prioritizing creative risk-taking and narrative depth over broad popularity. Secondly, they offer tailored content that aligns with individual tastes, targeting specialized demographics. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to grow their fanbase not only in their home country but also internationally. Through these strategies, OTT platforms are strengthening their competitiveness in ways unlike legacy channels.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly enter the streaming space, competition has intensified. For instance, KBS and MBC operate their own OTT services, 'KBSon' and 'MBC Digital', respectively, providing their existing broadcast content on digital platforms. This initiative helps preserve the market presence of established TV channels while attracting new viewership. Meanwhile, the growth of competing streaming networks is shifting audience preferences towards more user-controlled content access.
Conversely, OTT services are also expanding their dominance by collaborating with traditional TV networks. A leading global streaming giant has gained massive international recognition with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of Korean TV networks. This collaboration helps both parties leverage their advantages, fostering a more dynamic industry. As a result, the boundaries more info between network TV and streaming continue to fade.
Ultimately, legacy TV series and streaming platforms are both fighting for dominance and finding common ground through their respective market tactics. Terrestrial dramas maintain traditional genres and broad accessibility, whereas OTT services provide genre-defying and globally targeted content. As strategic partnerships and merging between these platforms continue to expand, audiences can expect a more diverse and enriched entertainment experience in the future.
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