Broadcasting vs. Digital Transition: How Terrestrial Platforms and New Streaming Giants Redefine the Market
Terrestrial dramas have long been established as popular TV shows, produced and broadcast through major network broadcasting stations. In contrast, Over-the-Top (OTT) services are internet-based streaming platforms, with global streaming giants, Watcha, and Wavve being representative examples. As viewing trends evolve, competition between network-produced series and OTT services has heightened. Consequently, each platform is developing exclusive releases and employing adaptive get more info strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with widespread popularity while maintaining traditional storytelling methods. In particular, they actively cast renowned leads to attract audience interest and produce narratives that appeal to a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and network legacy, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to explore different channels to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their market by employing strategies distinct from traditional terrestrial broadcasting. Firstly, they actively embrace unconventional narratives and experimental formats, prioritizing creative risk-taking and artistry over broad popularity. Secondly, they provide personalized selections that meets the needs of niche preferences, targeting specialized demographics. Lastly, they focus on producing globally accessible media aimed at the worldwide audience, allowing them to grow their fanbase not only in their home country but also across different cultures. Through these approaches, OTT services are redefining the market in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the OTT market, competition has intensified. For instance, one of Korea’s leading networks and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, distributing their existing broadcast content on digital platforms. This initiative helps preserve the market presence of legacy networks while engaging modern audiences. Meanwhile, the rise of competing streaming networks is changing consumer behavior towards more on-demand entertainment.
Conversely, OTT services are also solidifying their influence by partnering with terrestrial broadcasters. Netflix has gained massive international recognition with Hallyu series like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This synergy helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the distinction between traditional and modern media continue to become less defined.
Ultimately, terrestrial dramas and streaming platforms are both competing and working together through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and general audience focus, whereas digital platforms provide genre-defying and globally targeted content. As collaboration and integration between these platforms continue to develop, audiences can expect a wider-ranging and enhanced media landscape in the future.