Broadcasting vs. OTT Competition: How Terrestrial Platforms and OTT Platforms Redefine the Market
Broadcasting vs. OTT Competition: How Terrestrial Platforms and OTT Platforms Redefine the Market
Blog Article
Terrestrial broadcast series have long been established as mainstream TV shows, produced and broadcast through major network broadcasting stations. In contrast, Over-the-Top (OTT) services are read more digitally distributed streaming platforms, with Netflix, Watcha, and Wavve being leading competitors. As media consumption habits evolve, competition between network-produced series and digital streaming platforms has intensified. Consequently, each platform is creating unique content and employing adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with high mass appeal while maintaining traditional storytelling methods. In particular, they actively feature renowned leads to attract audience interest and produce dramas that resonate with a diverse demographic, thereby securing a consistent fanbase. Additionally, leveraging their decades of industry presence 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 services are expanding their subscriber base by employing tactics distinct from legacy media. Firstly, they actively adopt new genres and unique structures, prioritizing originality 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 worldwide audience, allowing them to attract subscribers not only in their home country but also on a global scale. Through these approaches, OTT services are redefining the market in ways distinct from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly penetrate the streaming space, competition has escalated. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBS Streaming Hub' and 'MBC Digital', respectively, providing their existing produced series on online services. This strategy helps sustain the relevance of traditional broadcasting platforms while engaging modern audiences. Meanwhile, the emergence of new media services is changing consumer behavior towards more on-demand entertainment.
Conversely, streaming providers are also enhancing their competitiveness by working alongside traditional TV networks. A leading global streaming giant has gained a global following with K-content hits like the breakout survival thriller and the supernatural dystopian sensation, leveraging the high-quality filming standards of traditional industry leaders. This strategic alliance helps both parties complement each other’s strengths, fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, legacy TV series and OTT services are both competing and seeking collaboration through their respective unique approaches. Terrestrial dramas maintain established storytelling and broad accessibility, whereas digital platforms provide experimental and cross-border content. As strategic partnerships and integration between these platforms continue to develop, audiences can expect a richer and elevated content environment in the future.
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