Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Redefine the Market
Broadcasting vs. OTT Competition: How Legacy Networks and New Streaming Giants Redefine the Market
Blog Article
Terrestrial dramas have long been established as popular TV programs, produced and broadcast through traditional broadcasting stations. In contrast, Over-the-Top (OTT) services are web-powered streaming platforms, with Netflix, Watcha, and Wavve being leading competitors. As viewing trends evolve, competition between terrestrial dramas and digital streaming platforms has intensified. Consequently, each platform is creating exclusive releases and employing adaptive strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with high mass appeal while maintaining traditional storytelling methods. In particular, they actively highlight celebrity performers to boost ratings and produce dramas that resonate with a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and network legacy, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to find more ways to engage with traditional content through various distribution channels.
Differentiation Strategies of OTT Services
OTT providers are expanding their subscriber base by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively embrace emerging trends and innovative storytelling, prioritizing creative risk-taking and artistry over broad popularity. Secondly, they provide tailored content that meets the needs of individual tastes, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the global market, allowing them to grow their fanbase not only within their region but also internationally. Through these strategies, OTT platforms are building industry dominance in ways distinct from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly penetrate the OTT market, competition has escalated. For instance, one of Korea’s leading networks and MBC operate their own streaming platforms, 'KBS Streaming Hub' and 'MBC Digital', respectively, making available their existing broadcast content on digital platforms. This effort helps maintain the influence of traditional broadcasting platforms while attracting new viewership. Meanwhile, the rise of competing streaming networks is reshaping viewing habits towards more user-controlled content access.
Conversely, digital platforms are also expanding their dominance by partnering here with terrestrial broadcasters. Netflix has gained massive international recognition with Hallyu series like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This synergy helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the lines between terrestrial and digital platforms continue to become less defined.
Ultimately, legacy TV series and OTT services are both rivaling each other and working together through their respective unique approaches. Terrestrial dramas maintain classic formats and mass appeal, whereas digital platforms provide bold and globally targeted content. As synergy and merging between these platforms continue to develop, audiences can expect a more diverse and enhanced content environment in the future.
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