Broadcasting vs. Digital Transition: How Legacy Networks and OTT Platforms Redefine the Market
Broadcasting vs. Digital Transition: How Legacy Networks 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 web-powered streaming platforms, with global streaming giants, regional streaming services, and domestic platforms being leading competitors. As media consumption habits evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is developing unique content and employing adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with high mass appeal while maintaining classic narrative structures. In particular, they actively feature renowned leads to increase viewer engagement and produce television series that capture the interest of a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and established reputation, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to find more ways to engage with network television through various distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively embrace emerging trends and experimental formats, prioritizing originality and artistry over mass appeal. Secondly, they offer customized programming that meets the needs of niche preferences, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to secure viewers not only in their home country but also internationally. Through these strategies, OTT services are redefining the market in ways different from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly expand into the streaming space, competition has escalated. For instance, 후후티비 KBS and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, making available their existing produced series on online services. This initiative helps preserve the market presence of legacy networks while expanding their digital reach. Meanwhile, the growth of new media services is shifting audience preferences towards more on-demand entertainment.
Conversely, digital platforms are also solidifying their influence by working alongside legacy content producers. Netflix has gained a global following with K-content hits like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of terrestrial broadcasters. This strategic alliance helps both parties maximize their potential, fostering a more dynamic industry. As a result, the boundaries between network TV and streaming continue to become less defined.
Ultimately, legacy TV series and streaming platforms are both competing and working together through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and general audience focus, whereas digital platforms provide genre-defying and cross-border content. As collaboration and integration between these platforms continue to grow, audiences can expect a wider-ranging and enriched entertainment experience in the future.
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