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 widely recognized TV shows, produced and broadcast through major network broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with Netflix, Watcha, and domestic platforms being representative examples. As audience preferences evolve, competition between network-produced series and OTT services has become fierce. Consequently, each platform is producing original productions and employing adaptive strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with broad audience reach while maintaining classic narrative structures. In particular, they actively highlight renowned leads to attract audience interest and produce dramas that capture the interest of a broad spectrum of viewers, thereby securing a loyal audience. Additionally, leveraging their historical credibility and network legacy, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to explore different channels to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their influence by employing strategies distinct from legacy media. Firstly, they actively embrace emerging trends and experimental formats, prioritizing creative risk-taking and cinematic quality over mainstream success. Secondly, they provide tailored content that meets the needs of specific interests, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the global market, allowing them to grow their fanbase not only domestically but also internationally. Through these approaches, OTT platforms are strengthening their competitiveness in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into the OTT market, competition has become fierce. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBSon' and 'MBC Digital', respectively, distributing their existing TV shows on digital platforms. This strategy helps maintain the influence of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the rise of competing streaming networks is reshaping viewing habits towards more on-demand entertainment.
Conversely, digital platforms are also solidifying their influence by partnering with traditional TV networks. Netflix has gained worldwide success with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the drama production capabilities of Korean TV networks. This strategic alliance helps both parties complement each other’s strengths, fostering a diverse storytelling landscape. As a result, the lines between terrestrial and digital get more info platforms continue to fade.
Ultimately, legacy TV series and OTT services are both fighting for dominance and working together through their respective differentiation strategies. network-produced content maintain traditional genres and mass appeal, whereas digital platforms provide genre-defying and cross-border content. As synergy and integration between these platforms continue to expand, audiences can expect a more diverse and enhanced media landscape in the future.
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