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 terrestrial broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As audience preferences evolve, competition between terrestrial dramas and digital streaming platforms has become fierce. Consequently, each platform is developing unique content and employing differentiated strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with high mass appeal while maintaining traditional storytelling methods. In particular, they actively cast renowned leads to attract audience interest and produce narratives that appeal to a diverse website demographic, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and network legacy, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to have multiple options to engage with traditional content through various distribution channels.
Differentiation Strategies of OTT Services
OTT platforms are expanding their subscriber base by employing approaches distinct from legacy media. Firstly, they actively incorporate new genres and innovative storytelling, prioritizing creative risk-taking and cinematic quality over broad popularity. Secondly, they offer personalized selections that meets the needs of niche preferences, targeting niche audiences. 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 on a global scale. Through these approaches, OTT services are redefining the market in ways distinct from conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly enter the streaming space, competition has intensified. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBS Streaming Hub' and 'wavve', respectively, providing their existing TV shows on digital platforms. This initiative helps preserve the market presence of established TV channels while attracting new viewership. Meanwhile, the emergence of competing streaming networks is changing consumer behavior towards more flexible viewing options.
Conversely, streaming providers are also solidifying their influence by partnering with traditional TV networks. Netflix has gained worldwide success with K-content hits like the breakout survival thriller and the supernatural dystopian sensation, leveraging the drama production capabilities of terrestrial broadcasters. This strategic alliance helps both parties leverage their advantages, fostering a more dynamic industry. As a result, the lines between terrestrial and digital platforms continue to become less defined.
Ultimately, legacy TV series and OTT services are both competing and working together through their respective differentiation strategies. network-produced content maintain established storytelling and broad accessibility, whereas digital platforms provide bold and internationally appealing content. As collaboration and cooperation between these platforms continue to develop, audiences can expect a more diverse and enriched entertainment experience in the future.
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