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 shows, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are web-powered streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As viewing trends evolve, competition between network-produced series and digital streaming platforms has intensified. Consequently, each platform is creating exclusive releases and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with widespread popularity while maintaining classic narrative structures. In particular, they actively cast star actors to boost ratings and produce dramas that capture the interest of a wide range of age groups, thereby securing a broad viewer base. Additionally, leveraging their long broadcasting experience and established reputation, they continue to offer traditional stories, ensuring consistent success. This allows audiences to find more ways to engage with long-standing formats through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing strategies distinct from network-based television. Firstly, they actively adopt unconventional narratives and experimental formats, prioritizing creative risk-taking and artistry over mainstream success. Secondly, they provide customized programming that caters to specific interests, targeting unique fan bases. Lastly, they focus on producing multinational content aimed at the global market, allowing them to grow their fanbase not only in their home country but also internationally. Through these methods, OTT platforms are strengthening their competitiveness in ways different from legacy channels.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly penetrate the streaming space, competition has intensified. For instance, one of Korea’s leading networks and MBC operate their own OTT services, 'KBS Streaming Hub' and 'wavve', respectively, providing their existing TV shows on online services. This strategy helps preserve the market presence of legacy networks 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 partnering with traditional TV networks. A leading global streaming giant has gained worldwide success with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of Korean TV networks. This collaboration helps both parties maximize their potential, fostering a richer content environment. As a result, the boundaries between network TV and streaming continue to blur.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and working together through their respective unique approaches. network-produced content maintain traditional genres and broad accessibility, whereas OTT services provide experimental and cross-border content. As collaboration and cooperation between these platforms continue to grow, audiences can expect a richer and enriched content environment in click here the future.
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