Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Redefine the Market
Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Redefine the Market
Blog Article
Terrestrial dramas have long been established as widely recognized TV shows, produced and broadcast through major network broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with global streaming giants, Watcha, and domestic platforms being representative examples. As audience preferences evolve, competition between terrestrial dramas and digital streaming platforms has become fierce. Consequently, each platform is producing original productions and employing adaptive strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with widespread popularity while maintaining traditional storytelling methods. In particular, they actively highlight star actors to increase viewer engagement and produce dramas that resonate with a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their decades of industry presence and brand trust, they continue to present familiar content, ensuring reliable audience numbers. This allows audiences to find more ways to engage with long-standing formats through various distribution channels.
Differentiation Strategies of OTT Services
OTT platforms are expanding their market by employing approaches distinct from network-based television. Firstly, they actively incorporate unconventional narratives and innovative storytelling, prioritizing artistic direction and cinematic quality over mass appeal. Secondly, they curate customized programming that caters to niche preferences, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the expanding international scene, allowing them to attract subscribers not only in their home country but also internationally. Through these approaches, OTT platforms are strengthening their competitiveness in ways distinct from conventional TV networks.
Competition and Collaboration Between Platforms
As legacy media companies increasingly penetrate the OTT market, competition has escalated. For instance, one of Korea’s leading networks and MBC operate their own more info streaming platforms, 'KBSon' and 'wavve', respectively, providing their existing produced series on digital platforms. This initiative helps preserve the market presence of legacy networks while engaging modern audiences. Meanwhile, the growth of competing streaming networks is shifting audience preferences towards more flexible viewing options.
Conversely, streaming providers are also enhancing their competitiveness by partnering with legacy content producers. A leading global streaming giant has gained worldwide success with Hallyu series like the breakout survival thriller and 'Hellbound', leveraging the drama production capabilities of traditional industry leaders. This collaboration helps both parties maximize their potential, fostering a more dynamic industry. As a result, the lines between terrestrial and digital platforms continue to fade.
Ultimately, legacy TV series and OTT services are both rivaling each other and working together through their respective differentiation strategies. Terrestrial dramas maintain established storytelling and general audience focus, whereas OTT services provide genre-defying and globally targeted content. As synergy and cooperation between these platforms continue to grow, audiences can expect a richer and elevated content environment in the future.
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