Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Innovate
Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Innovate
Blog Article
Terrestrial dramas have long been established as popular TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are digitally distributed streaming platforms, with global streaming giants, Watcha, and Wavve being leading competitors. As viewing trends evolve, competition read more between network-produced series and digital streaming platforms has intensified. Consequently, each platform is developing 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 traditional storytelling methods. In particular, they actively feature star actors to boost ratings and produce television series that resonate with a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their long broadcasting experience and brand trust, they continue to offer traditional stories, ensuring stable viewership ratings. This allows audiences to find more ways to engage with traditional content through various distribution channels.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing approaches distinct from network-based television. Firstly, they actively adopt new genres and experimental formats, prioritizing artistic direction and narrative depth over broad popularity. Secondly, they provide customized programming that meets the needs of individual tastes, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the expanding international scene, allowing them to attract subscribers not only within their region but also across different cultures. Through these approaches, OTT platforms are redefining the market in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly penetrate the OTT market, competition has escalated. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own OTT services, 'KBS Streaming Hub' and 'MBC Digital', respectively, distributing their existing produced series on internet-based distribution channels. This strategy helps sustain the relevance of established TV channels while expanding their digital reach. Meanwhile, the emergence of alternative digital platforms is shifting audience preferences towards more flexible viewing options.
Conversely, streaming providers are also solidifying their influence by working alongside legacy content producers. Netflix has gained worldwide success with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the drama production capabilities of terrestrial broadcasters. This collaboration helps both parties maximize their potential, fostering a richer content environment. As a result, the lines between terrestrial and digital platforms continue to blur.
Ultimately, legacy TV series and OTT services are both fighting for dominance and seeking collaboration through their respective market tactics. Terrestrial dramas maintain traditional genres and broad accessibility, whereas digital platforms provide genre-defying and cross-border content. As synergy and integration between these platforms continue to expand, audiences can expect a wider-ranging and enhanced content environment in the future.
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