Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Innovate
Terrestrial broadcast series have long been established as widely recognized TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with global streaming giants, regional streaming services, and Wavve being leading competitors. As media consumption habits evolve, competition between terrestrial dramas and OTT services has heightened. Consequently, each platform is developing exclusive releases and employing differentiated strategies to stay ahead.
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 dramas that appeal to a diverse demographic, thereby securing a broad viewer base. Additionally, leveraging their decades of industry presence and established reputation, they continue to present familiar content, ensuring stable viewership ratings. This allows audiences to have multiple options to engage with network television through various distribution channels.
Differentiation Strategies of OTT Services
OTT platforms are expanding their subscriber base by employing approaches distinct from legacy media. Firstly, they actively embrace unconventional narratives and unique structures, prioritizing creative risk-taking and narrative depth over mainstream success. Secondly, they curate personalized selections that caters to individual tastes, targeting unique fan bases. Lastly, they focus on producing multinational content aimed at the global market, allowing them to grow their fanbase not only in their home country but also internationally. Through these methods, OTT platforms are building industry dominance in ways different from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the OTT market, competition has intensified. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBSon' and 'wavve', respectively, providing their existing broadcast content on digital platforms. This strategy helps sustain the relevance of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the rise of competing streaming networks is changing consumer behavior towards more on-demand entertainment.
Conversely, OTT services are also expanding their dominance by collaborating with traditional TV networks. Netflix has gained worldwide success with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of terrestrial broadcasters. This synergy helps both parties complement each other’s strengths, fostering a richer content environment. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and working together through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and mass appeal, whereas digital platforms provide genre-defying and internationally appealing content. As strategic partnerships and cooperation between 후후티비2 these platforms continue to expand, audiences can expect a richer and enhanced media landscape in the future.