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 programs, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are digitally distributed streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As audience preferences evolve, competition between network-produced series and digital streaming platforms has intensified. Consequently, each platform is creating original productions and employing adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with widespread popularity while maintaining time-honored formats. In particular, they actively feature star actors to attract audience interest and produce television series that appeal to a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and established reputation, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to have multiple options to engage with traditional content through various mediums.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing tactics distinct from legacy media. Firstly, they actively embrace unconventional narratives and experimental formats, prioritizing artistic direction and artistry over mainstream success. Secondly, they curate customized programming that aligns with individual tastes, targeting specialized demographics. Lastly, they focus on producing international releases aimed at the expanding international scene, allowing them to secure viewers not only in their home country but also on a global scale. Through these strategies, OTT platforms are strengthening their competitiveness in ways different from legacy channels.
Competition and Collaboration Between Platforms
As major TV networks increasingly penetrate 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 online services. This strategy 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 on-demand entertainment.
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 K-content hits like 'Squid Game' and 'Hellbound', leveraging the high-quality filming standards of terrestrial broadcasters. This strategic alliance 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 streaming platforms are both fighting for dominance and working together through their respective differentiation strategies. Terrestrial dramas maintain traditional genres click here and general audience focus, whereas digital platforms provide genre-defying and cross-border content. As synergy and merging between these platforms continue to develop, audiences can expect a wider-ranging and enriched entertainment experience in the future.
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