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 terrestrial broadcasting stations. In contrast, streaming services are web-powered streaming platforms, with Netflix, regional streaming services, and domestic platforms being representative examples. As media consumption habits evolve, competition between terrestrial dramas and OTT services has become fierce. Consequently, each platform is developing unique content and employing distinct strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing content with widespread popularity while maintaining classic narrative structures. In particular, they actively highlight celebrity performers to increase viewer engagement and produce narratives that capture the interest of a broad spectrum of viewers, thereby securing a broad viewer base. Additionally, leveraging their long broadcasting experience and network legacy, they continue to deliver time-tested formulas, ensuring stable viewership ratings. 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 market by employing strategies distinct from traditional terrestrial broadcasting. Firstly, they actively adopt read more emerging trends and unique structures, prioritizing artistic direction and narrative depth over mainstream success. Secondly, they curate personalized selections that meets the needs of specific interests, targeting niche audiences. Lastly, they focus on producing globally accessible media aimed at the worldwide audience, allowing them to secure viewers not only within their region but also across different cultures. Through these strategies, OTT services are redefining the market in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly expand into the OTT market, competition has escalated. For instance, one of Korea’s leading networks and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, distributing their existing produced series on digital platforms. This initiative helps maintain the influence of established TV channels while attracting new viewership. Meanwhile, the rise of competing streaming networks is shifting audience preferences towards more user-controlled content access.
Conversely, streaming providers are also expanding their dominance by collaborating with traditional TV networks. A leading global streaming giant has gained a global following with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of Korean TV networks. This synergy helps both parties maximize their potential, fostering a diverse storytelling landscape. As a result, the boundaries between network TV and streaming continue to blur.
Ultimately, legacy TV series and OTT services are both rivaling each other and seeking collaboration through their respective differentiation strategies. Terrestrial dramas maintain established storytelling and mass appeal, whereas OTT services provide genre-defying and internationally appealing content. As collaboration and cooperation between these platforms continue to develop, audiences can expect a more diverse and enriched content environment in the future.
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