Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Redefine the Market
Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Redefine the Market
Blog Article
Terrestrial dramas have long been established as mainstream TV programs, produced and broadcast through major network broadcasting stations. In contrast, online services are internet-based streaming platforms, with global streaming giants, regional streaming services, and Wavve being representative examples. As audience preferences evolve, competition between network-produced series and OTT services has heightened. Consequently, each platform is producing unique content and employing differentiated strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with high mass appeal while maintaining time-honored formats. In particular, they actively cast celebrity performers to increase viewer engagement and produce narratives that appeal to a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and established reputation, they continue to offer traditional stories, ensuring stable viewership ratings. This allows audiences to find more ways to engage with long-standing formats through various mediums.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing approaches distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate unconventional here narratives and innovative storytelling, prioritizing originality and narrative depth over mass appeal. Secondly, they offer personalized selections that aligns with niche preferences, targeting unique fan bases. Lastly, they focus on producing multinational content aimed at the expanding international scene, allowing them to attract subscribers not only in their home country but also across different cultures. Through these methods, OTT platforms are strengthening their competitiveness in ways unlike traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As legacy media companies increasingly penetrate the OTT market, competition has escalated. For instance, KBS and MBC operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, providing their existing broadcast content on internet-based distribution channels. This effort helps preserve the market presence of established TV channels while attracting new viewership. Meanwhile, the growth of alternative digital platforms is changing consumer behavior towards more on-demand entertainment.
Conversely, OTT services are also expanding their dominance by working alongside traditional TV networks. A leading global streaming giant has gained a global following with Hallyu series like the breakout survival thriller and the supernatural dystopian sensation, leveraging the storytelling expertise 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 become less defined.
Ultimately, legacy TV series and streaming platforms are both competing and finding common ground through their respective differentiation strategies. network-produced content maintain classic formats and general audience focus, whereas digital platforms provide bold and cross-border content. As synergy and integration between these platforms continue to grow, audiences can expect a wider-ranging and elevated entertainment experience in the future.
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