Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Redefine the Market
Terrestrial dramas have long been established as popular TV shows, produced and broadcast through major network broadcasting stations. In contrast, Over-the-Top (OTT) services are internet-based streaming platforms, with Netflix, Watcha, and domestic platforms being leading competitors. As media consumption habits evolve, competition between terrestrial dramas and digital streaming platforms has become fierce. Consequently, each platform is creating unique content and employing distinct strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with high mass appeal while maintaining classic narrative structures. In particular, they actively feature star actors to boost ratings and produce narratives that resonate with a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their historical credibility and network legacy, they continue to offer traditional stories, ensuring stable viewership ratings. This allows audiences to explore different channels to engage with network television through various distribution channels.
Differentiation Strategies of OTT Services
OTT platforms are expanding their subscriber base by employing strategies distinct from network-based television. Firstly, they actively incorporate new genres and experimental formats, prioritizing artistic direction and cinematic quality over mass appeal. Secondly, they curate personalized selections that caters to niche preferences, targeting specialized demographics. Lastly, they focus on producing international releases aimed at the worldwide audience, allowing them to grow their fanbase not only in their home country but also on a global scale. Through these methods, OTT platforms are strengthening their competitiveness in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the streaming space, competition has escalated. For instance, KBS and MBC operate their own OTT services, 'KBSon' and 'MBC Digital', respectively, providing their existing broadcast content on digital platforms. This effort helps sustain the relevance of traditional broadcasting platforms while attracting new viewership. Meanwhile, the growth of alternative digital platforms is changing consumer get more info behavior towards more flexible viewing options.
Conversely, streaming providers are also expanding their dominance by working alongside legacy content producers. A leading global streaming giant has gained massive international recognition with K-content hits like 'Squid Game' and 'Hellbound', leveraging the drama production capabilities of Korean TV networks. This synergy helps both parties complement each other’s strengths, fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to fade.
Ultimately, terrestrial dramas and streaming platforms are both fighting for dominance and finding common ground through their respective unique approaches. Terrestrial dramas maintain established storytelling and mass appeal, whereas OTT services provide bold and cross-border content. As synergy and cooperation between these platforms continue to expand, audiences can expect a richer and enriched entertainment experience in the future.