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 broadcast series have long been established as mainstream TV shows, produced and broadcast through major network broadcasting stations. In contrast, Over-the-Top (OTT) services are internet-based streaming platforms, with global streaming giants, regional streaming services, and Wavve being representative examples. As audience preferences evolve, competition between network-produced series and OTT services has become fierce. Consequently, each platform is creating exclusive releases and employing distinct strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with high mass appeal while maintaining time-honored formats. In particular, they actively highlight star actors to attract audience interest and produce television series that resonate with a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and network legacy, they continue to deliver time-tested formulas, ensuring stable viewership ratings. This allows audiences to find more ways to engage with network television through various mediums.
Differentiation Strategies of OTT Services
OTT platforms are expanding their subscriber base by employing strategies distinct from traditional terrestrial broadcasting. Firstly, they actively adopt unconventional narratives and unique structures, prioritizing creative risk-taking and cinematic quality over broad popularity. Secondly, they curate personalized selections 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 attract subscribers not only domestically but also on a global scale. Through these approaches, OTT platforms are strengthening their competitiveness in ways distinct from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly enter the OTT market, competition has intensified. For instance, KBS and a long-established broadcaster operate their own streaming platforms, 'KBS Streaming Hub' and 'MBC Digital', respectively, making available their existing produced series on internet-based distribution channels. This initiative helps preserve the market read more presence of established TV channels while engaging modern audiences. Meanwhile, the emergence of alternative digital platforms is reshaping viewing habits towards more flexible viewing options.
Conversely, streaming providers are also enhancing their competitiveness by working alongside traditional TV networks. Netflix has gained worldwide success with Korean dramas like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of Korean TV networks. This strategic alliance helps both parties maximize their potential, fostering a diverse storytelling landscape. As a result, the distinction between traditional and modern media continue to become less defined.
Ultimately, terrestrial dramas and streaming platforms are both rivaling each other and working together through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and general audience focus, whereas digital platforms provide genre-defying and globally targeted content. As collaboration and merging between these platforms continue to grow, audiences can expect a wider-ranging and enhanced media landscape in the future.
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