Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Redefine the Market
Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Redefine the Market
Blog Article
Terrestrial dramas have long been established as mainstream TV shows, produced and broadcast through major network broadcasting stations. In contrast, online services are web-powered streaming platforms, with global streaming giants, regional streaming services, and Wavve being representative examples. As viewing trends evolve, competition between terrestrial dramas and OTT services has intensified. Consequently, each platform is creating unique content and employing distinct strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing stories with high mass appeal while maintaining time-honored formats. In particular, they actively highlight celebrity performers to attract audience interest and produce television series that appeal to a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and network legacy, they continue to deliver time-tested formulas, ensuring reliable audience numbers. This allows audiences to find more ways to engage with long-standing formats through various distribution channels.
Differentiation Strategies of OTT Services
OTT platforms are expanding their influence by employing approaches distinct from network-based television. Firstly, they actively adopt unconventional narratives and unique structures, prioritizing originality and narrative depth over broad popularity. Secondly, they provide personalized selections that caters to niche preferences, targeting unique fan bases. Lastly, they focus on producing globally accessible media aimed at the worldwide audience, allowing them to grow their fanbase not only domestically but also across different cultures. Through these strategies, OTT services are building industry dominance in ways distinct from legacy channels.
Competition and Collaboration Between Platforms
As major TV networks increasingly expand into the streaming space, competition has intensified. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own streaming platforms, 'KBSon' and 'wavve', respectively, providing their existing broadcast content on online services. This initiative helps preserve the market presence of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the rise of alternative digital platforms is changing consumer behavior towards more user-controlled content website access.
Conversely, streaming providers are also solidifying their influence by partnering with traditional TV networks. A leading global streaming giant has gained worldwide success with Hallyu series like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of terrestrial broadcasters. This strategic alliance helps both parties maximize their potential, fostering a diverse storytelling landscape. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, legacy TV series and OTT services are both competing and finding common ground through their respective unique approaches. Terrestrial dramas maintain traditional genres and broad accessibility, whereas digital platforms provide genre-defying and internationally appealing content. As strategic partnerships and merging between these platforms continue to grow, audiences can expect a more diverse and elevated media landscape in the future.
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