Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Redefine the Market
Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Redefine the Market
Blog Article
Terrestrial dramas have long been established as popular TV programs, produced and broadcast through major click here network 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 terrestrial dramas and digital streaming platforms has intensified. Consequently, each platform is producing exclusive releases and employing differentiated strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing stories with high mass appeal while maintaining traditional storytelling methods. In particular, they actively highlight renowned leads to boost ratings and produce dramas that capture the interest of a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and brand trust, they continue to offer traditional stories, ensuring stable viewership ratings. This allows audiences to have multiple options to engage with long-standing formats through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively adopt new genres and experimental formats, prioritizing artistic direction and artistry over broad popularity. Secondly, they provide customized programming that meets the needs of specific interests, targeting unique fan bases. Lastly, they focus on producing multinational content aimed at the global market, allowing them to secure viewers not only within their region but also on a global scale. Through these strategies, OTT platforms are strengthening their competitiveness in ways different from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the OTT market, competition has intensified. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own streaming platforms, 'KBSon' and 'wavve', respectively, distributing their existing TV shows on online services. This initiative helps preserve the market presence of legacy networks while attracting new viewership. Meanwhile, the emergence of competing streaming networks is shifting audience preferences towards more flexible viewing options.
Conversely, digital platforms are also enhancing their competitiveness by working alongside traditional TV networks. Netflix has gained a global following with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of terrestrial broadcasters. This synergy helps both parties complement each other’s strengths, fostering a richer content environment. As a result, the lines between terrestrial and digital platforms continue to blur.
Ultimately, terrestrial dramas and streaming platforms are both fighting for dominance and seeking collaboration through their respective unique approaches. network-produced content maintain traditional genres and general audience focus, whereas OTT services provide experimental and cross-border content. As collaboration and cooperation between these platforms continue to expand, audiences can expect a wider-ranging and enriched content environment in the future.
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