Broadcasting vs. OTT Competition: How Terrestrial Platforms and New Streaming Giants Innovate
Terrestrial broadcast series have long been established as popular TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, online services are web-powered streaming platforms, with global streaming giants, Watcha, and domestic platforms being leading competitors. As audience preferences evolve, competition between terrestrial dramas and OTT services has become fierce. Consequently, each platform is developing exclusive releases and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with broad audience reach while maintaining traditional storytelling methods. In particular, they actively cast celebrity performers to attract audience interest and produce television series that resonate with a broad spectrum of viewers, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and network legacy, they continue to present familiar content, ensuring reliable audience numbers. This allows audiences to have multiple options to engage with network television through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing tactics distinct from network-based television. Firstly, they actively embrace new genres and experimental formats, prioritizing originality and cinematic quality over mass appeal. Secondly, they curate personalized selections that aligns with specific interests, targeting unique fan bases. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to secure viewers not only in their home country but also on a global scale. Through these methods, OTT services are building industry dominance in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly enter the digital entertainment industry, competition has become fierce. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own OTT services, 'KBS Streaming Hub' and 'MBC Digital', respectively, making available their existing broadcast content on online services. This effort helps preserve the market presence of established TV channels while engaging modern audiences. Meanwhile, the growth of competing streaming networks is changing consumer behavior towards more on-demand entertainment.
Conversely, streaming providers are also enhancing their competitiveness by partnering with traditional TV networks. Netflix has gained worldwide success with K-content hits like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of Korean TV networks. This strategic alliance helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the boundaries between network TV and streaming continue to blur.
Ultimately, legacy TV series and streaming platforms are both fighting for dominance and seeking collaboration through their respective market tactics. network-produced content maintain established storytelling and general audience focus, whereas digital platforms provide genre-defying and globally targeted content. As synergy and merging between these platforms continue to develop, audiences can expect a richer and elevated content environment in the future. read more