Broadcasting vs. OTT Competition: How Legacy Networks and Digital Broadcasters Adapt to Change
Broadcasting vs. OTT Competition: How Legacy Networks and Digital Broadcasters Adapt to Change
Blog Article
Terrestrial dramas have long been established as popular TV programs, produced and broadcast through traditional broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with global streaming giants, regional streaming services, and Wavve being leading competitors. As viewing trends evolve, competition between terrestrial dramas and OTT services has heightened. Consequently, each platform is developing exclusive releases and employing adaptive strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with broad audience reach while maintaining traditional storytelling methods. In particular, they actively cast renowned leads to increase viewer engagement and produce television series that capture the interest of a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their decades of industry presence and network legacy, they continue to offer traditional stories, ensuring consistent success. This allows audiences to have multiple options to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing approaches distinct from network-based television. Firstly, they actively embrace emerging trends and innovative storytelling, prioritizing creative risk-taking and artistry over broad popularity. Secondly, they curate customized programming that caters to individual tastes, targeting unique fan bases. Lastly, they focus on producing globally accessible media aimed at the global market, allowing them to grow their fanbase not only domestically but also internationally. Through these approaches, OTT services are strengthening their competitiveness in ways different from legacy channels.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly enter the digital entertainment industry, competition has intensified. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own OTT services, 'KBS Streaming Hub' and 'wavve', respectively, distributing their existing broadcast content on online services. This strategy helps sustain the relevance of legacy networks while attracting new viewership. Meanwhile, the rise of alternative digital platforms is shifting audience preferences towards more on-demand entertainment.
Conversely, digital platforms are also enhancing their competitiveness by working alongside legacy content producers. Netflix has gained a global following with Hallyu series like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This synergy helps both parties complement each other’s strengths, fostering check here a richer content environment. As a result, the lines between terrestrial and digital platforms continue to blur.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and seeking collaboration through their respective market tactics. Terrestrial dramas maintain established storytelling and general audience focus, whereas digital platforms provide genre-defying and internationally appealing content. As strategic partnerships and integration between these platforms continue to grow, audiences can expect a richer and enhanced entertainment experience in the future.
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