Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Innovate
Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Innovate
Blog Article
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 Netflix, Watcha, and Wavve being leading competitors. As media consumption habits evolve, competition between terrestrial dramas and digital streaming platforms has heightened. Consequently, each platform is developing unique content and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing stories with widespread popularity while maintaining traditional storytelling methods. In particular, they actively highlight celebrity performers to boost ratings and produce narratives that resonate with a diverse demographic, thereby securing a broad viewer base. Additionally, leveraging their decades of industry presence and established reputation, they continue to deliver time-tested formulas, ensuring stable viewership ratings. This allows audiences to explore different channels to engage with traditional content through various distribution channels.
Differentiation Strategies of OTT Services
OTT providers are expanding their market by employing strategies distinct from traditional terrestrial broadcasting. Firstly, they actively embrace unconventional narratives and innovative storytelling, prioritizing artistic direction and cinematic quality over mass here appeal. Secondly, they curate customized programming that meets the needs of individual tastes, targeting specialized demographics. Lastly, they focus on producing international releases aimed at the worldwide audience, allowing them to grow their fanbase not only within their region but also across different cultures. Through these approaches, OTT platforms are redefining the market in ways distinct from legacy channels.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly enter the OTT market, competition has intensified. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBS Streaming Hub' and 'wavve', respectively, making available their existing broadcast content on online services. This initiative helps sustain the relevance of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the growth of alternative digital platforms is changing consumer behavior towards more flexible viewing options.
Conversely, digital platforms are also expanding their dominance by partnering with terrestrial broadcasters. Netflix has gained a global following with Korean dramas like the breakout survival thriller and the supernatural dystopian sensation, leveraging the drama production capabilities 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 fade.
Ultimately, terrestrial dramas and streaming platforms are both competing and working together through their respective unique approaches. Terrestrial dramas maintain classic formats and general audience focus, whereas digital platforms provide experimental and globally targeted content. As strategic partnerships and cooperation between these platforms continue to grow, audiences can expect a wider-ranging and enriched content environment in the future.
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