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 broadcast series have long been established as mainstream TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are web-powered streaming platforms, with global streaming giants, Watcha, and domestic platforms being leading competitors. As audience preferences evolve, competition between network-produced series and digital streaming platforms has heightened. Consequently, each platform is developing unique content and employing adaptive strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with widespread popularity while maintaining traditional storytelling methods. In particular, they actively cast celebrity performers to increase viewer engagement and produce narratives that capture the interest of a broad spectrum of viewers, thereby securing a loyal audience. Additionally, leveraging their long broadcasting experience and network legacy, they continue to deliver time-tested formulas, ensuring reliable audience numbers. This allows audiences to have multiple options to engage with network television through various distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing tactics distinct from network-based television. Firstly, they actively embrace emerging trends and experimental formats, prioritizing artistic direction and narrative depth over mainstream success. Secondly, they offer customized programming that meets the needs of specific interests, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the global market, allowing them to secure viewers not only in their home country but also across different cultures. Through these strategies, OTT platforms are strengthening their competitiveness in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly penetrate the OTT market, competition has become fierce. For instance, one of Korea’s leading networks and a long-established broadcaster operate their 후후티비 own OTT services, 'KBS Streaming Hub' and 'MBC Digital', respectively, distributing their existing produced series on internet-based distribution channels. This initiative helps maintain the influence of legacy networks while expanding their digital reach. Meanwhile, the emergence of new media services is changing consumer behavior towards more flexible viewing options.
Conversely, digital platforms are also solidifying their influence by collaborating with legacy content producers. Netflix has gained massive international recognition with Hallyu series like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This strategic alliance helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the boundaries between network TV and streaming continue to fade.
Ultimately, legacy TV series and OTT services are both competing and finding common ground through their respective unique approaches. Terrestrial dramas maintain traditional genres and broad accessibility, whereas digital platforms provide bold and cross-border content. As strategic partnerships and cooperation between these platforms continue to grow, audiences can expect a wider-ranging and enhanced media landscape in the future.
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