Broadcasting vs. Streaming Evolution: How Traditional Media and OTT Platforms Redefine the Market
Terrestrial broadcast series 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 global streaming giants, regional streaming services, and Wavve being leading competitors. As get more info media consumption habits evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is creating original productions and employing distinct strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with broad audience reach while maintaining traditional storytelling methods. In particular, they actively feature celebrity performers to attract audience interest and produce dramas that capture the interest of a diverse demographic, thereby securing a broad viewer base. Additionally, leveraging their long broadcasting experience and network legacy, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to find more ways to engage with traditional content through various mediums.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing approaches distinct from network-based television. Firstly, they actively incorporate unconventional narratives and experimental formats, prioritizing creative risk-taking and artistry over mainstream success. Secondly, they offer tailored content that meets the needs of specific interests, targeting unique fan bases. Lastly, they focus on producing multinational content aimed at the expanding international scene, allowing them to secure viewers not only domestically but also across different cultures. Through these methods, OTT platforms are building industry dominance in ways different from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies 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 broadcast content on internet-based distribution channels. This strategy helps maintain the influence of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the rise of new media services is changing consumer behavior towards more user-controlled content access.
Conversely, streaming providers are also expanding their dominance by working alongside terrestrial broadcasters. A leading global streaming giant has gained massive international recognition with Korean dramas like 'Squid Game' and 'Hellbound', leveraging the drama production capabilities of Korean TV networks. This synergy helps both parties complement each other’s strengths, fostering a more dynamic industry. As a result, the boundaries between network TV and streaming continue to fade.
Ultimately, terrestrial dramas and streaming platforms are both rivaling each other and finding common ground through their respective market tactics. Terrestrial dramas maintain classic formats and broad accessibility, whereas OTT services provide experimental and internationally appealing content. As collaboration and merging between these platforms continue to grow, audiences can expect a wider-ranging and enhanced content environment in the future.