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 shows, produced and broadcast through major network broadcasting stations. In contrast, streaming services are web-powered streaming platforms, with Netflix, regional streaming services, and domestic platforms being representative examples. As audience preferences evolve, competition between terrestrial dramas and OTT services has heightened. Consequently, each platform is producing unique content and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with broad audience reach while maintaining traditional storytelling methods. here In particular, they actively cast star actors to attract audience interest and produce dramas that resonate with a broad spectrum of viewers, thereby securing a broad viewer base. Additionally, leveraging their decades of industry presence and network legacy, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to have multiple options to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their influence by employing strategies 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 niche preferences, targeting specialized demographics. 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 on a global scale. Through these approaches, OTT services are redefining the market in ways different from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the digital entertainment industry, competition has intensified. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBSon' and 'wavve', respectively, making available their existing produced series on digital platforms. This effort helps maintain the influence of legacy networks while attracting new viewership. Meanwhile, the growth of alternative digital platforms is shifting audience preferences towards more on-demand entertainment.
Conversely, streaming providers are also expanding their dominance by partnering with terrestrial broadcasters. A leading global streaming giant has gained a global following with Korean dramas like the breakout survival thriller and 'Hellbound', leveraging the drama production capabilities of terrestrial broadcasters. This collaboration helps both parties maximize their potential, fostering a diverse storytelling landscape. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, legacy TV series and OTT services are both rivaling each other and finding common ground through their respective market tactics. network-produced content maintain classic formats and broad accessibility, whereas digital platforms provide bold and globally targeted content. As collaboration and merging between these platforms continue to expand, audiences can expect a wider-ranging and enhanced media landscape in the future.
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