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 popular TV programs, produced and broadcast through traditional broadcasting stations. In contrast, streaming services are digitally distributed streaming platforms, with Netflix, regional streaming services, and Wavve being representative examples. As viewing trends evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is developing unique content and employing distinct strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with broad audience reach while maintaining traditional storytelling methods. In particular, they actively cast renowned leads to boost ratings and produce television series that capture the interest of a diverse demographic, thereby securing a consistent fanbase. Additionally, leveraging their long broadcasting experience and established reputation, they continue to present familiar content, ensuring consistent success. This allows audiences to explore different channels to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their market by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate emerging trends and experimental formats, prioritizing originality and artistry over broad popularity. Secondly, they provide personalized selections that aligns with niche preferences, targeting niche audiences. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to attract subscribers not only within their region but also on a global scale. Through these approaches, OTT platforms are redefining the market in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into 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, 'KBS Streaming Hub' and 'MBC Digital', respectively, distributing their existing produced series on digital platforms. This initiative helps maintain the influence of legacy networks while attracting new viewership. Meanwhile, the growth of competing streaming networks is reshaping viewing habits towards more user-controlled content access.
Conversely, digital platforms are also solidifying their influence by partnering with terrestrial broadcasters. Netflix has gained a global following with Hallyu series like the breakout survival thriller and 'Hellbound', leveraging the drama production capabilities of terrestrial broadcasters. This collaboration helps both parties leverage their advantages, fostering a richer content environment. As a result, the distinction between traditional and 후후티비 modern media continue to fade.
Ultimately, terrestrial dramas and streaming platforms are both competing and working together through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and general audience focus, whereas digital platforms provide experimental and cross-border content. As synergy and integration between these platforms continue to expand, audiences can expect a more diverse and enriched entertainment experience in the future.
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