The Rising Dominance of OTT and the Shifting Landscape of IPTV

The Rising Dominance of OTT and the Shifting Landscape of IPTV

In recent times, there has been a growing concern about the future of IPTV as it faces stiff competition from OTT (Online Video Services). This shift in focus towards OTT has been highlighted by KT's recent decision to abandon the acquisition of Dilive, a major player in the paid broadcasting industry. With Dilive being the top market player in the paid broadcasting sector, excluding SKT, KT, and LG affiliates, the industry is now inclined towards strengthening their concentration on OTT services rather than paid broadcasting.

One company that has been experiencing continuous growth and expanding its IP business is RIDI Corporation. This global webtoon subscription service, known as "Manta," has been making significant strides. Manta has been building a robust lineup of popular domestic works by localizing them for international audiences. This strong lineup of works has contributed to a 40% growth in revenue for Manta, compared to the previous year. Furthermore, RIDI's flagship web novel, "Under the Sycamore Tree," concluded last year and its spin-off English version was published on Amazon in February, achieving the remarkable feat of becoming a bestseller in five countries, including the United States.

The success of Manta and the increasing popularity of OTT services have raised questions about the future prospects of IPTV. However, it is important to note that there are common points and connections between these developments. Both Manta's growth and the rise of OTT services can be attributed to their ability to offer diverse and engaging content to a global audience. The localization efforts of Manta have allowed them to tap into international markets, expanding their user base and driving revenue growth. Similarly, OTT services have gained traction by providing a wide range of content options, catering to the preferences of viewers worldwide.

The changing landscape of the broadcasting industry presents an opportunity for IPTV providers to adapt and thrive. Rather than viewing OTT as a threat, they can leverage it to their advantage. By incorporating OTT services into their offerings, IPTV providers can expand their content libraries and provide users with a comprehensive entertainment experience. This integration can also help IPTV providers attract a younger demographic, who are more inclined towards consuming content through online platforms.

To navigate this evolving landscape successfully, here are three actionable pieces of advice:

1. Embrace OTT: IPTV providers should embrace OTT services and explore partnerships with popular platforms or create their own OTT offerings. By offering a seamless integration of IPTV and OTT services, providers can cater to the changing preferences of viewers and stay competitive in the market.

2. Focus on Localization: Following the example of Manta, IPTV providers should focus on localizing content to appeal to international audiences. This can open up new revenue streams and help expand their user base beyond domestic markets.

3. Enhance User Experience: To differentiate themselves from OTT services, IPTV providers should prioritize enhancing the user experience. This can be achieved through improved user interfaces, personalized recommendations, and additional features such as interactive content or exclusive live events.

In conclusion, the rise of OTT services and the success of companies like RIDI Corporation's Manta have sparked discussions about the future of IPTV. However, rather than viewing OTT as a threat, IPTV providers can embrace it as an opportunity to adapt and evolve. By incorporating OTT services, focusing on localization efforts, and enhancing the user experience, IPTV providers can position themselves for success in the changing broadcasting landscape. As the industry continues to evolve, it is essential for providers to stay agile and innovative to meet the demands of viewers and remain competitive in the market.