Broadcasting vs. Digital Transition: How Legacy Networks and New Streaming Giants Redefine the Market
Terrestrial broadcast series have long been established as mainstream TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) services are web-powered streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As viewing trends evolve, competition between network-produced series and digital streaming platforms has heightened. Consequently, each platform is producing unique content and employing distinct strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with high mass appeal while maintaining traditional storytelling methods. In particular, they actively cast renowned leads to attract audience interest and produce television series that resonate with a broad spectrum of viewers, thereby securing a loyal audience. Additionally, leveraging their historical credibility and established reputation, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to explore different channels to engage with long-standing formats through various distribution channels.
Differentiation Strategies of OTT Services
OTT providers are expanding their market by employing tactics distinct from legacy media. Firstly, they actively adopt emerging trends and experimental formats, prioritizing creative risk-taking and narrative depth over mass appeal. Secondly, they curate tailored content that aligns with individual tastes, targeting niche audiences. Lastly, they focus on producing international releases aimed at the worldwide audience, allowing them to secure viewers not only domestically but also on a global scale. Through get more info these methods, OTT services are redefining the market in ways distinct from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As major TV networks increasingly penetrate the OTT market, 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 digital platforms. This strategy helps maintain the influence of legacy networks while expanding their digital reach. Meanwhile, the growth of new media services is reshaping viewing habits towards more user-controlled content access.
Conversely, streaming providers are also expanding their dominance by partnering with traditional TV networks. Netflix has gained massive international recognition with K-content hits like the breakout survival thriller and 'Hellbound', leveraging the drama production capabilities of Korean TV networks. This collaboration helps both parties complement each other’s strengths, 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 fighting for dominance and seeking collaboration through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and general audience focus, whereas digital platforms provide bold and cross-border content. As strategic partnerships and integration between these platforms continue to expand, audiences can expect a richer and enriched entertainment experience in the future.