Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Redefine the Market
Broadcasting vs. OTT Competition: How Traditional Media and OTT Platforms Redefine the Market
Blog Article
Terrestrial dramas have long been established as popular TV shows, produced and broadcast through traditional broadcasting stations. In contrast, online services are internet-based streaming platforms, with global streaming giants, Watcha, and domestic platforms being representative examples. As media consumption habits evolve, competition between terrestrial dramas and OTT services has intensified. Consequently, each platform is developing original productions and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with widespread popularity while maintaining classic narrative structures. In particular, they actively feature celebrity performers to boost ratings and produce dramas that resonate with a diverse demographic, thereby securing a broad viewer base. Additionally, leveraging their decades of industry website presence and brand trust, they continue to offer traditional stories, ensuring consistent success. This allows audiences to find more ways to engage with long-standing formats through various mediums.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing tactics distinct from legacy media. Firstly, they actively embrace unconventional narratives and innovative storytelling, prioritizing originality and narrative depth over mainstream success. Secondly, they curate personalized selections that aligns with specific interests, targeting specialized demographics. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to secure viewers not only within their region but also across different cultures. Through these methods, OTT services are redefining the market in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into the digital entertainment industry, competition has become fierce. For instance, KBS and MBC operate their own streaming platforms, 'KBSon' and 'MBC Digital', respectively, making available their existing broadcast content on online services. This initiative helps sustain the relevance of traditional broadcasting platforms while attracting new viewership. Meanwhile, the growth of alternative digital platforms is shifting audience preferences towards more flexible viewing options.
Conversely, OTT services are also enhancing their competitiveness by collaborating with legacy content producers. A leading global streaming giant has gained a global following with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of traditional industry leaders. This strategic alliance helps both parties maximize their potential, fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, legacy TV series and streaming platforms are both competing and seeking collaboration through their respective market tactics. Terrestrial dramas maintain classic formats and mass appeal, whereas OTT services provide bold and internationally appealing content. As strategic partnerships and integration between these platforms continue to grow, audiences can expect a wider-ranging and elevated entertainment experience in the future.
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