Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Adapt to Change
Terrestrial dramas have long been established as widely recognized TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with global streaming giants, regional streaming services, and Wavve being leading competitors. As viewing trends evolve, competition between network-produced series and digital streaming platforms has intensified. Consequently, each platform is developing unique content and employing distinct strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with broad audience reach while maintaining classic narrative structures. In particular, they actively highlight celebrity performers to boost ratings and produce dramas that appeal to a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their decades of industry presence and brand trust, 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 services are expanding their market by employing approaches distinct from network-based television. Firstly, they actively embrace new genres and unique structures, prioritizing artistic direction and narrative depth over broad popularity. Secondly, they provide customized programming that meets the needs of niche preferences, targeting specialized demographics. Lastly, they focus on producing multinational content aimed at the global market, allowing them to grow their fanbase not only within their region but also internationally. Through these approaches, OTT services are strengthening their competitiveness in ways distinct from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the OTT market, competition has become fierce. For instance, KBS and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, making available their existing produced ννν°λΉ2 series on online services. This initiative helps sustain the relevance of traditional broadcasting platforms while engaging modern audiences. Meanwhile, the rise of competing streaming networks is reshaping viewing habits towards more flexible viewing options.
Conversely, digital platforms are also enhancing their competitiveness by collaborating with traditional TV networks. A leading global streaming giant has gained massive international recognition with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of Korean TV networks. This collaboration helps both parties maximize their potential, fostering a diverse storytelling landscape. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, legacy TV series and streaming platforms are both competing and finding common ground through their respective unique approaches. network-produced content maintain established storytelling and broad accessibility, whereas digital platforms provide bold and cross-border content. As strategic partnerships and merging between these platforms continue to develop, audiences can expect a richer and elevated entertainment experience in the future.