Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Redefine the Market
Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Redefine the Market
Blog Article
Terrestrial dramas have long been established as mainstream TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) services are web-powered streaming platforms, with Netflix, regional streaming services, and Wavve being representative examples. As media consumption habits evolve, competition between terrestrial dramas and OTT services has intensified. Consequently, each platform is producing exclusive releases and employing adaptive strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with broad audience reach while maintaining traditional storytelling methods. In particular, they actively highlight renowned leads to boost ratings and produce dramas that appeal to a broad spectrum of viewers, thereby securing a consistent fanbase. Additionally, leveraging their decades of industry presence and brand trust, they continue to present familiar content, ensuring stable viewership ratings. This allows audiences to find more ways to engage with network television through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing strategies distinct from network-based television. Firstly, they actively incorporate new genres and unique structures, prioritizing artistic direction and narrative depth over broad popularity. Secondly, they curate tailored content that caters to niche preferences, targeting unique fan bases. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to attract subscribers not only in their home country but also on a global scale. Through these methods, OTT platforms are redefining the market in ways distinct from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly enter the digital entertainment industry, competition has become fierce. For instance, one of Korea’s leading networks and MBC operate their own 후후티비 대체 streaming platforms, 'KBSon' and 'MBC Digital', respectively, making available their existing produced series on online services. This initiative helps preserve the market presence of legacy networks while attracting new viewership. Meanwhile, the emergence of new media services is shifting audience preferences towards more on-demand entertainment.
Conversely, OTT services are also enhancing their competitiveness by partnering with legacy content producers. Netflix has gained massive international recognition with Korean dramas like the breakout survival thriller and 'Hellbound', leveraging the drama production capabilities of traditional industry leaders. This strategic alliance helps both parties maximize their potential, fostering a diverse storytelling landscape. As a result, the boundaries between network TV and streaming continue to blur.
Ultimately, terrestrial dramas and OTT services are both competing and working together through their respective unique approaches. Terrestrial dramas maintain traditional genres and broad accessibility, whereas digital platforms provide genre-defying and cross-border content. As strategic partnerships and merging between these platforms continue to grow, audiences can expect a more diverse and elevated content environment in the future.
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