Broadcasting vs. OTT Competition: How Traditional Media and Digital Broadcasters Redefine the Market
Broadcasting vs. OTT Competition: How Traditional Media and Digital Broadcasters Redefine the Market
Blog Article
Terrestrial broadcast series have long been established as mainstream TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with Netflix, Watcha, and domestic platforms being leading competitors. As audience preferences evolve, competition between network-produced series and digital streaming platforms has intensified. Consequently, each platform is producing original productions and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing content with high mass appeal while maintaining traditional storytelling methods. In particular, they actively cast star actors to attract audience interest and produce narratives that capture the interest of a broad spectrum of viewers, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and brand trust, they continue to offer traditional stories, ensuring consistent success. This allows audiences to have multiple options to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing strategies distinct from legacy media. Firstly, they actively embrace new genres and innovative storytelling, prioritizing artistic direction and narrative depth over broad popularity. Secondly, they curate customized programming that meets the needs of specific interests, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to secure viewers not only domestically but also on a global scale. Through these methods, OTT platforms are building industry dominance in ways unlike legacy get more info channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the digital entertainment industry, competition has intensified. For instance, KBS and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, providing their existing produced series on online services. This strategy helps preserve the market presence of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the growth of new media services is shifting audience preferences towards more on-demand entertainment.
Conversely, OTT services are also expanding their dominance by partnering with terrestrial broadcasters. Netflix has gained worldwide success with Korean dramas like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of terrestrial broadcasters. This synergy helps both parties leverage their advantages, 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 rivaling each other and seeking collaboration through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and mass appeal, whereas digital platforms provide bold and internationally appealing content. As collaboration and merging between these platforms continue to expand, audiences can expect a more diverse and enhanced entertainment experience in the future.
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