Broadcasting vs. OTT Competition: How Legacy Networks and OTT Platforms Innovate
Broadcasting vs. OTT Competition: How Legacy Networks and OTT Platforms Innovate
Blog Article
Terrestrial broadcast series 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 global streaming giants, Watcha, and Wavve being leading competitors. As audience preferences evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is creating exclusive releases and employing distinct strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with high mass appeal while maintaining traditional storytelling methods. In particular, they actively highlight star actors to boost ratings and produce narratives that capture the interest of a diverse demographic, thereby securing a broad viewer base. Additionally, leveraging their long broadcasting experience and network legacy, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to explore different channels to engage with long-standing formats through various mediums.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing approaches distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate emerging trends and unique structures, prioritizing artistic direction and cinematic quality over mass appeal. Secondly, they offer personalized selections that caters to individual tastes, targeting niche audiences. Lastly, they focus on producing international releases aimed at the expanding international scene, allowing them to grow their fanbase not only within their region but also internationally. Through these strategies, OTT services are strengthening their competitiveness in ways unlike traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As major TV networks increasingly enter the OTT market, competition has become fierce. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own OTT services, 'KBSon' and 'wavve', respectively, distributing their existing TV shows on online services. This strategy helps sustain the relevance of established TV channels here while attracting new viewership. Meanwhile, the growth of new media services is shifting audience preferences towards more flexible viewing options.
Conversely, digital platforms are also expanding their dominance by partnering with traditional TV networks. Netflix has gained worldwide success with K-content hits like 'Squid Game' and 'Hellbound', leveraging the drama production capabilities of terrestrial broadcasters. 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 become less defined.
Ultimately, terrestrial dramas and streaming platforms are both competing and seeking collaboration through their respective differentiation strategies. network-produced content maintain classic formats and broad accessibility, whereas OTT services provide bold and internationally appealing content. As synergy and cooperation between these platforms continue to grow, audiences can expect a richer and elevated content environment in the future.
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