Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Redefine the Market
Terrestrial broadcast series have long been established as widely recognized TV programs, produced and broadcast through major network broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As media consumption habits evolve, competition between terrestrial dramas and OTT services has become fierce. Consequently, each platform is developing exclusive releases and employing differentiated strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with broad audience reach while maintaining traditional storytelling methods. In particular, they actively feature star actors to attract audience interest and produce narratives that appeal to a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their historical credibility and established reputation, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to find more ways to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing approaches distinct from legacy media. Firstly, they actively incorporate emerging trends and experimental formats, prioritizing originality and artistry over mainstream success. Secondly, they curate tailored content that caters to niche preferences, targeting niche audiences. Lastly, they focus on producing international releases aimed at the expanding international scene, allowing them to secure viewers not only domestically but also across different cultures. Through these methods, OTT platforms are redefining the market in ways unlike legacy channels.
Competition and Collaboration Between Platforms
As major TV networks increasingly enter the digital entertainment industry, competition has escalated. For instance, one of Korea’s leading networks and check here MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, making available their existing TV shows on internet-based distribution channels. This effort helps sustain the relevance of traditional broadcasting platforms while attracting new viewership. Meanwhile, the emergence of new media services is shifting audience preferences towards more flexible viewing options.
Conversely, streaming providers are also enhancing their competitiveness by working alongside traditional TV networks. Netflix has gained a global following with Korean dramas like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This collaboration helps both parties complement each other’s strengths, fostering a more dynamic industry. As a result, the boundaries between network TV and streaming continue to fade.
Ultimately, terrestrial dramas and streaming platforms are both fighting for dominance and finding common ground through their respective market tactics. network-produced content maintain classic formats and general audience focus, whereas OTT services provide experimental and internationally appealing content. As synergy and merging between these platforms continue to grow, audiences can expect a wider-ranging and enhanced entertainment experience in the future.