Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Adapt to Change
Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Adapt to Change
Blog Article
Terrestrial dramas have long been established as mainstream TV shows, produced and broadcast through traditional broadcasting stations. In contrast, online services are internet-based streaming platforms, with Netflix, regional streaming services, and Wavve being representative examples. As media consumption habits evolve, competition between terrestrial dramas and OTT services has heightened. Consequently, each platform is developing unique content and employing adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with broad audience reach while maintaining time-honored formats. In particular, they actively cast 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 long broadcasting experience and network legacy, they continue to deliver time-tested formulas, ensuring reliable audience numbers. This allows audiences to find more ways to engage with traditional content through various mediums.
Differentiation Strategies of OTT Services
OTT providers are expanding their market by employing approaches distinct from traditional terrestrial broadcasting. Firstly, they actively embrace emerging trends and innovative storytelling, prioritizing creative risk-taking and narrative depth over broad popularity. Secondly, they offer customized programming that caters to individual tastes, targeting unique fan bases. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to secure viewers not only within their region but also internationally. Through these strategies, OTT services are redefining the market in ways distinct from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly enter the digital entertainment industry, competition has escalated. For instance, KBS and a long-established broadcaster website operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, distributing their existing TV shows on internet-based distribution channels. This strategy helps sustain the relevance of traditional broadcasting platforms while attracting new viewership. Meanwhile, the growth of new media services is reshaping viewing habits towards more flexible viewing options.
Conversely, OTT services are also expanding their dominance by working alongside traditional TV networks. A leading global streaming giant has gained a global following with Hallyu series like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This strategic alliance helps both parties leverage their advantages, fostering a more dynamic industry. As a result, the lines between terrestrial and digital platforms continue to become less defined.
Ultimately, terrestrial dramas and streaming platforms are both competing and seeking collaboration through their respective differentiation strategies. Terrestrial dramas maintain classic formats and mass appeal, whereas OTT services provide bold and cross-border content. As collaboration and integration between these platforms continue to expand, audiences can expect a richer and enhanced content environment in the future.
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