Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Adapt to Change
Terrestrial broadcast series have long been established as mainstream TV shows, produced and broadcast through traditional broadcasting stations. In contrast, streaming services are digitally distributed streaming platforms, with global streaming giants, Watcha, and Wavve being representative examples. As viewing trends evolve, competition between terrestrial dramas and digital streaming platforms has heightened. Consequently, each platform is developing original productions and employing differentiated strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with high mass appeal while maintaining time-honored formats. In particular, they actively feature star actors to boost ratings and produce narratives that resonate with a broad spectrum of viewers, thereby securing a broad viewer base. Additionally, leveraging their long broadcasting experience and brand trust, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to have website multiple options to engage with network television through various distribution channels.
Differentiation Strategies of OTT Services
OTT providers are expanding their subscriber base by employing approaches distinct from network-based television. Firstly, they actively adopt new genres and experimental formats, prioritizing originality and cinematic quality over mass appeal. Secondly, they provide customized programming that aligns with specific interests, targeting specialized demographics. Lastly, they focus on producing multinational content aimed at the global market, allowing them to attract subscribers not only within their region but also on a global scale. Through these methods, OTT services are redefining the market in ways different from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into the OTT market, competition has intensified. For instance, KBS and MBC operate their own streaming platforms, 'KBSon' and 'MBC Digital', respectively, making available their existing TV shows on internet-based distribution channels. This strategy helps maintain the influence of legacy networks while attracting new viewership. Meanwhile, the growth of new media services is reshaping viewing habits towards more flexible viewing options.
Conversely, streaming providers are also solidifying their influence by partnering with terrestrial broadcasters. A leading global streaming giant has gained massive international recognition with K-content hits like 'Squid Game' and the supernatural dystopian sensation, leveraging the drama production capabilities of terrestrial broadcasters. This collaboration helps both parties leverage their advantages, fostering a richer content environment. As a result, the lines between terrestrial and digital platforms continue to become less defined.
Ultimately, legacy TV series and OTT services are both fighting for dominance and finding common ground through their respective market tactics. network-produced content maintain traditional genres and broad accessibility, whereas OTT services provide genre-defying and cross-border content. As collaboration and merging between these platforms continue to expand, audiences can expect a richer and enhanced content environment in the future.