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 mainstream TV shows, produced and broadcast through traditional broadcasting stations. In contrast, Over-the-Top (OTT) services are internet-based streaming platforms, with global streaming giants, regional streaming services, and Wavve being representative examples. As audience preferences evolve, competition between terrestrial dramas and digital streaming platforms has intensified. Consequently, each platform is creating unique content and employing differentiated strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with high mass appeal while maintaining classic narrative structures. In particular, they actively feature star actors to attract audience interest and produce dramas that capture the interest of a wide range of age groups, 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 find more ways to engage with long-standing formats through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their subscriber base by employing tactics distinct from legacy media. Firstly, they actively incorporate unconventional narratives and unique structures, prioritizing originality and cinematic quality over broad popularity. Secondly, they provide 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 grow their fanbase not only domestically but also internationally. Through these strategies, OTT services are building industry dominance in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into the OTT market, competition has become fierce. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBSon' and 'wavve', respectively, making available their existing TV shows on internet-based distribution channels. This initiative helps preserve the market presence of traditional broadcasting platforms while attracting new viewership. Meanwhile, the growth of alternative digital platforms is shifting audience preferences towards more on-demand entertainment.
Conversely, OTT services are also enhancing their competitiveness by working alongside legacy content producers. Netflix has gained massive international recognition with K-content hits like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of terrestrial broadcasters. This collaboration helps both parties leverage their advantages, fostering a richer content environment. As a result, the boundaries between network TV and streaming continue to blur.
Ultimately, terrestrial dramas and streaming platforms are both rivaling each other and seeking collaboration through their respective unique website approaches. Terrestrial dramas maintain traditional genres and mass appeal, whereas OTT services provide genre-defying and internationally appealing content. As synergy and cooperation between these platforms continue to grow, audiences can expect a richer and elevated media landscape in the future.
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