Broadcasting vs. Streaming Evolution: How Legacy Networks and OTT Platforms Redefine the Market
Terrestrial dramas have long been established as mainstream TV shows, 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 heightened. Consequently, each platform is creating original productions and employing distinct strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing content with widespread popularity while maintaining traditional storytelling methods. In particular, they actively cast star actors to boost ratings and produce television series that resonate with a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their long broadcasting experience and network legacy, they continue to present familiar content, ensuring stable viewership ratings. This allows audiences to have multiple options to engage with long-standing formats through various mediums.
Differentiation Strategies of OTT Services
OTT providers are expanding their market by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate unconventional narratives and innovative storytelling, prioritizing creative risk-taking and artistry over mainstream success. Secondly, they offer tailored content that aligns with specific interests, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the expanding international scene, allowing them to grow their fanbase not only in their home country but also internationally. Through these approaches, OTT services are building industry dominance in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly penetrate the digital entertainment industry, competition has escalated. For instance, one of Korea’s leading networks and MBC operate their own OTT services, 'KBSon' and 'wavve', respectively, making available their existing broadcast content on digital platforms. This initiative helps maintain the influence of established TV channels while expanding their digital reach. Meanwhile, the rise of new media services is reshaping viewing habits towards more on-demand entertainment.
Conversely, OTT services are also enhancing their competitiveness by collaborating with traditional TV networks. A leading global streaming giant has gained massive international recognition with Hallyu series like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This collaboration helps both parties maximize their potential, website fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to become less defined.
Ultimately, legacy TV series and OTT services are both rivaling each other and finding common ground through their respective differentiation strategies. Terrestrial dramas maintain classic formats and general audience focus, whereas OTT services provide experimental and globally targeted content. As collaboration and integration between these platforms continue to develop, audiences can expect a richer and enhanced media landscape in the future.