The supply and demand of content are both busy due to a boom in platforms
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We are living in an era when a new OTT platform is created in a day. However, the OTT war is just in its beginning stage, as “content” is what matters most. In addition to OTT, new types of online platforms and numerous cable channels are being created right now and at this moment. This diversification of options is welcome from the consumer's point of view, but the platform is literally a connecting tool and the core is content.
The recent occurrence of content supply and demand being unable to keep up with the rate of platform expansion has drawn attention to how the market structure will be created in the long run. In the first half of this year, Netflix, also known as a 'dinosaur,' is in a slow mood, with fresh original announcements arriving in the second part of the year. After topping 10 million monthly active users in March, Netflix is said to have remained stopped for two months. Netflix is where investment and production are most active, but this slowness proves that it takes "time" to produce content after a certain level. It is impossible to produce content like a factory does. The business is watching to see who can introduce "killing material" earliest and more frequently.
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Platforms are also catching fire since it's a system that can simply cancel subscriptions if there's nothing to watch, even if the pie is surging. Consumers will shift around a lot depending on whatever platform offers exceptional content. Netflix has been slowing down for a while, but when "Kingdom: Asinjeon" is released, there will be another surge. Competition within platforms such as OTT will not go away for a while. Users' usage costs are also expected to increase naturally. In the case of new platforms, content is of course the most important thing, but marketing strategies are also needed to guide how to view the content.
With the influx of new platforms both at home and abroad, advocates have argued that policy assistance is required to ensure that native platforms are well-established, and that content may be "priced." Netflix's long-term dominance and addition of new dinosaurs such as Disney plus and HBO Max, concerns are growing that the content value of local OTTs might be undervalued. Failure to properly underpin domestic production capabilities could degenerate into subcontract bases for global OTTs. The prevailing view is that policies that improve the content production environment are fundamental prescriptions rather than policies that sanction platforms. Although the market's limitations are obvious for local OTTs, more diverse stories can emerge from classics, low budget to high-quality contents. In the end, the answer lies in the “content”.
Article Source: https://n.news.naver.com/entertain/article/001/0012455934