Broadcasting vs. OTT Competition: How Legacy Networks and OTT Platforms Redefine the Market
Terrestrial broadcast series have long been established as popular TV shows, produced and broadcast through major network broadcasting stations. In contrast, online services are internet-based streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As media consumption habits evolve, competition between terrestrial dramas and OTT services has intensified. Consequently, each platform is developing unique content and employing differentiated strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with high mass appeal while maintaining classic narrative structures. In particular, they actively highlight celebrity performers to attract audience interest and produce narratives that appeal to a broad spectrum of viewers, thereby securing a consistent fanbase. 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 distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their influence by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively adopt emerging trends and experimental formats, prioritizing artistic direction and narrative depth over broad popularity. Secondly, they curate tailored content that aligns with individual tastes, targeting specialized demographics. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to grow their fanbase not only in their home country but also on a global scale. Through these strategies, OTT services are redefining the market in ways different from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly penetrate the digital entertainment industry, competition has website become fierce. For instance, KBS and MBC operate their own streaming platforms, 'KBSon' and 'wavve', respectively, providing their existing TV shows on digital platforms. This initiative helps preserve the market presence of established TV channels while engaging modern audiences. Meanwhile, the growth of new media services is changing consumer behavior towards more on-demand entertainment.
Conversely, digital platforms are also solidifying their influence by collaborating with traditional TV networks. Netflix has gained worldwide success with Korean dramas like the breakout survival thriller and 'Hellbound', leveraging the high-quality filming standards of terrestrial broadcasters. This collaboration helps both parties complement each other’s strengths, fostering a richer content environment. As a result, the lines between terrestrial and digital platforms continue to fade.
Ultimately, legacy TV series and streaming platforms are both fighting for dominance and finding common ground through their respective market tactics. network-produced content maintain established storytelling and general audience focus, whereas OTT services provide bold and cross-border content. As strategic partnerships and merging between these platforms continue to expand, audiences can expect a richer and elevated content environment in the future.