Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Innovate
Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Innovate
Blog Article
Terrestrial dramas have long been established as mainstream TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) services are web-powered streaming platforms, with Netflix, Watcha, and Wavve being representative examples. As viewing trends evolve, competition between terrestrial dramas and digital streaming platforms has heightened. Consequently, each platform is developing exclusive releases and employing distinct strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing content with widespread popularity while maintaining traditional storytelling methods. In particular, they actively feature renowned leads 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 established reputation, they continue to present familiar content, ensuring stable website viewership ratings. This allows audiences to have multiple options to engage with long-standing formats through various platforms.
Differentiation Strategies of OTT Services
OTT providers are expanding their market by employing approaches distinct from network-based television. Firstly, they actively embrace unconventional narratives and unique structures, prioritizing creative risk-taking and artistry over broad popularity. Secondly, they provide tailored content that meets the needs of individual tastes, targeting specialized demographics. Lastly, they focus on producing globally accessible media aimed at the worldwide audience, allowing them to grow their fanbase not only in their home country but also internationally. Through these approaches, OTT services are redefining the market in ways unlike traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly penetrate the digital entertainment industry, competition has become fierce. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own OTT services, 'KBSon' and 'MBC Digital', respectively, making available their existing TV shows on online services. This strategy helps sustain the relevance of legacy networks while attracting new viewership. Meanwhile, the growth of competing streaming networks is changing consumer behavior towards more on-demand entertainment.
Conversely, streaming providers are also expanding their dominance by working alongside terrestrial broadcasters. A leading global streaming giant has gained massive international recognition with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of Korean TV networks. This strategic alliance helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the boundaries between network TV and streaming continue to fade.
Ultimately, terrestrial dramas and OTT services are both rivaling each other and seeking collaboration through their respective market tactics. Terrestrial dramas maintain established storytelling and mass appeal, whereas digital platforms provide experimental and cross-border content. As collaboration and merging between these platforms continue to grow, audiences can expect a more diverse and enriched entertainment experience in the future.
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