Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Innovate
Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Innovate
Blog Article
Terrestrial dramas have long been established as widely recognized TV shows, produced and broadcast through major network broadcasting stations. In contrast, Over-the-Top (OTT) 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 become fierce. Consequently, each platform is developing original productions and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with high mass appeal while maintaining traditional storytelling methods. In particular, they actively feature star actors to attract audience interest and produce dramas that capture the interest of a wide range of age groups, thereby securing a broad viewer base. Additionally, leveraging their historical credibility and established reputation, they continue to present familiar content, ensuring reliable audience numbers. This allows audiences to explore different channels to engage with long-standing formats through various mediums.
Differentiation Strategies of OTT Services
OTT providers are expanding their subscriber base by employing approaches distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate new genres and innovative storytelling, prioritizing artistic direction and cinematic quality over mainstream success. Secondly, they provide tailored content that aligns with individual tastes, targeting specialized demographics. Lastly, they focus on producing website international releases aimed at the expanding international scene, allowing them to grow their fanbase not only in their home country but also on a global scale. Through these strategies, OTT services are strengthening their competitiveness in ways distinct from legacy 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 OTT services, 'KBSon' and 'wavve', respectively, making available their existing produced series on online services. This strategy helps maintain the influence of established TV channels while attracting new viewership. Meanwhile, the rise of competing streaming networks is changing consumer behavior towards more on-demand entertainment.
Conversely, OTT services are also enhancing their competitiveness by working alongside terrestrial broadcasters. Netflix has gained worldwide success with Hallyu series like the breakout survival thriller and the supernatural dystopian sensation, leveraging the drama production capabilities of Korean TV networks. This synergy helps both parties maximize their potential, fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to fade.
Ultimately, terrestrial dramas and OTT services are both competing and finding common ground through their respective differentiation strategies. Terrestrial dramas maintain classic formats and mass appeal, whereas digital platforms provide experimental and internationally appealing content. As synergy and merging between these platforms continue to develop, audiences can expect a richer and enhanced entertainment experience in the future.
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