Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Redefine the Market
Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Redefine the Market
Blog Article
Terrestrial dramas have long been established as widely recognized TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, online services are web-powered streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As 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 adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus read more on providing content with high mass appeal while maintaining classic narrative structures. In particular, they actively cast renowned leads to increase viewer engagement and produce narratives that capture the interest of a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their historical credibility and established reputation, they continue to deliver time-tested formulas, ensuring reliable audience numbers. This allows audiences to find more ways to engage with network television through various platforms.
Differentiation Strategies of OTT Services
OTT providers are expanding their market by employing strategies distinct from legacy media. Firstly, they actively embrace unconventional narratives and experimental formats, prioritizing creative risk-taking and artistry over mainstream success. Secondly, they provide personalized selections that meets the needs of specific interests, targeting specialized demographics. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to secure viewers not only in their home country but also on a global scale. Through these methods, OTT platforms are redefining the market in ways unlike legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly expand into the streaming space, competition has become fierce. For instance, KBS and MBC operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, distributing their existing TV shows on digital platforms. This strategy helps sustain the relevance of established TV channels while engaging modern audiences. Meanwhile, the growth of alternative digital platforms is reshaping viewing habits towards more flexible viewing options.
Conversely, OTT services are also solidifying their influence by partnering with legacy content producers. Netflix has gained massive international recognition with K-content hits like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of Korean TV networks. This strategic alliance helps both parties complement each other’s strengths, fostering a diverse storytelling landscape. As a result, the distinction between traditional and modern media continue to become less defined.
Ultimately, terrestrial dramas and OTT services are both competing and working together through their respective unique approaches. network-produced content maintain traditional genres and general audience focus, whereas digital platforms provide experimental and globally targeted content. As synergy and integration between these platforms continue to grow, audiences can expect a richer and enhanced media landscape in the future.
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