Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Redefine the Market
Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Redefine the Market
Blog Article
Terrestrial dramas have long been established as popular TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) services are 후후티비 digitally distributed streaming platforms, with Netflix, Watcha, and Wavve being representative examples. As audience preferences evolve, competition between network-produced series and OTT services has become fierce. Consequently, each platform is creating exclusive releases and employing adaptive strategies to strengthen its competitiveness.
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 feature star actors to boost ratings and produce television series that capture the interest of a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and network legacy, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to explore different channels to engage with network television through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their subscriber base by employing tactics distinct from legacy media. Firstly, they actively adopt new genres and unique structures, prioritizing creative risk-taking and narrative depth over broad popularity. Secondly, they offer tailored content that meets the needs of individual tastes, targeting unique fan bases. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to attract subscribers not only domestically but also internationally. Through these methods, OTT platforms are building industry dominance in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As legacy media companies increasingly expand into the digital entertainment industry, competition has escalated. For instance, one of Korea’s leading networks and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, providing their existing broadcast content on internet-based distribution channels. This strategy helps sustain the relevance of legacy networks while attracting new viewership. Meanwhile, the rise of new media services is shifting audience preferences towards more on-demand entertainment.
Conversely, OTT services are also expanding their dominance by partnering with traditional TV networks. A leading global streaming giant has gained massive international recognition with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of traditional industry leaders. This collaboration helps both parties complement each other’s strengths, fostering a more dynamic industry. As a result, the boundaries between network TV and streaming continue to become less defined.
Ultimately, legacy TV series and streaming platforms are both competing and working together through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and mass appeal, whereas digital platforms provide genre-defying and globally targeted content. As strategic partnerships and cooperation between these platforms continue to develop, audiences can expect a more diverse and enriched content environment in the future.
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