Broadcasting vs. Streaming Evolution: How Traditional Media and OTT Platforms Redefine the Market
Broadcasting vs. Streaming Evolution: How Traditional Media and OTT Platforms Redefine the Market
Blog Article
Terrestrial dramas have long been established as popular TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, online services are internet-based streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As media consumption habits evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is creating unique content and employing adaptive strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with broad audience reach while maintaining classic narrative structures. In particular, they actively feature renowned leads to attract audience interest and produce television series that appeal to a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their decades of industry presence and established reputation, 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 platforms.
Differentiation Strategies of OTT Services
OTT providers are here expanding their market by employing approaches distinct from legacy media. Firstly, they actively incorporate new genres and innovative storytelling, prioritizing artistic direction and artistry over broad popularity. Secondly, they offer tailored content that caters to niche preferences, targeting specialized demographics. Lastly, they focus on producing international releases aimed at the global market, allowing them to attract subscribers not only domestically but also across different cultures. Through these approaches, OTT services are redefining the market in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly penetrate the OTT market, competition has become fierce. For instance, one of Korea’s leading networks and MBC operate their own OTT services, 'KBS Streaming Hub' and 'MBC Digital', respectively, providing their existing broadcast content on digital platforms. This strategy helps preserve the market presence of legacy networks while attracting new viewership. Meanwhile, the emergence of alternative digital platforms is changing consumer behavior towards more flexible viewing options.
Conversely, OTT services are also expanding their dominance by working alongside terrestrial broadcasters. Netflix has gained worldwide success with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of traditional industry leaders. This synergy helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, terrestrial dramas and OTT services are both rivaling each other and working together through their respective market tactics. network-produced content maintain traditional genres and broad accessibility, whereas OTT services provide experimental and cross-border content. As synergy and cooperation between these platforms continue to develop, audiences can expect a richer and enhanced content environment in the future.
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