Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Adapt to Change
Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Adapt to Change
Blog Article
Terrestrial dramas have long been established as widely recognized TV programs, produced and broadcast through traditional broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with global streaming giants, regional streaming services, and Wavve being leading competitors. As viewing trends evolve, competition between network-produced series and OTT services has heightened. Consequently, each platform is producing original productions and employing adaptive strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with widespread popularity while maintaining time-honored formats. In particular, they actively feature renowned leads to increase viewer engagement and produce dramas that appeal to a broad spectrum of viewers, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and established reputation, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to have multiple options to engage with long-standing formats through various platforms.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing strategies distinct from traditional terrestrial broadcasting. Firstly, they actively adopt unconventional narratives and unique structures, prioritizing creative risk-taking and narrative depth over mass appeal. Secondly, they offer tailored content here that meets the needs of specific interests, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to grow their fanbase not only in their home country but also internationally. Through these strategies, OTT services are building industry dominance in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As legacy media companies increasingly expand into the streaming space, competition has become fierce. For instance, one of Korea’s leading networks and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, providing their existing TV shows on digital platforms. This strategy helps preserve the market presence of established TV channels while engaging modern audiences. Meanwhile, the growth of alternative digital platforms is changing consumer behavior towards more user-controlled content access.
Conversely, digital platforms are also enhancing their competitiveness by working alongside legacy content producers. A leading global streaming giant has gained worldwide success with K-content hits like 'Squid Game' and 'Hellbound', leveraging the high-quality filming standards of terrestrial broadcasters. This collaboration helps both parties leverage their advantages, fostering a richer content environment. As a result, the distinction between traditional and modern media continue to become less defined.
Ultimately, terrestrial dramas and streaming platforms are both rivaling each other and working together through their respective differentiation strategies. network-produced content maintain traditional genres and mass appeal, whereas OTT services provide bold and internationally appealing content. As synergy and merging between these platforms continue to develop, audiences can expect a richer and enriched media landscape in the future.
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