Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Adapt to Change
Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Adapt to Change
Blog Article
Terrestrial dramas have long been established as mainstream TV shows, produced and broadcast through major network broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with Netflix, regional streaming services, and domestic platforms being leading competitors. As media consumption habits evolve, competition between terrestrial dramas and digital streaming platforms has become fierce. Consequently, each platform is creating unique content and employing adaptive strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with widespread popularity while maintaining classic narrative structures. In particular, they actively feature star actors to attract audience interest and produce television series that capture the interest of a wide range of age groups, thereby securing a broad viewer base. Additionally, leveraging their decades of industry presence and network legacy, they continue to present familiar content, ensuring consistent success. This allows audiences to find more ways to engage with long-standing formats through various distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing approaches distinct from legacy media. Firstly, they actively embrace unconventional narratives and innovative storytelling, prioritizing more info creative risk-taking and artistry over mass appeal. Secondly, they curate tailored content that aligns with specific interests, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to attract subscribers not only within their region but also across different cultures. Through these strategies, OTT platforms are redefining the market in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly enter the digital entertainment industry, competition has become fierce. For instance, KBS and MBC operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, providing their existing broadcast content on online services. This strategy helps preserve the market presence of traditional broadcasting platforms while attracting new viewership. Meanwhile, the emergence of new media services is shifting audience preferences towards more flexible viewing options.
Conversely, OTT services are also expanding their dominance by partnering with legacy content producers. A leading global streaming giant has gained worldwide success with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of traditional industry leaders. 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 blur.
Ultimately, legacy TV series and OTT services are both rivaling each other and seeking collaboration through their respective unique approaches. network-produced content maintain established storytelling and general audience focus, whereas digital platforms provide experimental and cross-border content. As strategic partnerships and merging between these platforms continue to develop, audiences can expect a more diverse and enhanced content environment in the future.
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