Broadcasting vs. OTT Competition: How Legacy Networks and Digital Broadcasters Innovate
Terrestrial dramas have long been established as popular TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are digitally distributed streaming platforms, with Netflix, Watcha, and domestic platforms being leading competitors. As media consumption habits evolve, competition between terrestrial dramas and OTT services has become fierce. Consequently, each platform is developing original productions and employing adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with high mass appeal while maintaining classic narrative structures. In particular, they actively feature celebrity performers to increase viewer engagement and produce narratives that appeal to a wide range of age groups, thereby securing a broad viewer base. Additionally, leveraging their long broadcasting experience and established reputation, they continue to deliver time-tested formulas, ensuring reliable audience numbers. This allows audiences to explore different channels to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing tactics distinct from legacy media. Firstly, they actively adopt unconventional narratives and innovative storytelling, prioritizing creative risk-taking and artistry over mass appeal. Secondly, they provide personalized selections that meets the needs of specific interests, targeting specialized demographics. Lastly, they focus on producing international releases aimed at the worldwide audience, allowing them to attract subscribers not only domestically but also across different cultures. Through these strategies, OTT platforms are redefining the market in ways different from legacy channels.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into the streaming space, competition has become fierce. For instance, KBS and MBC operate their own OTT services, 'KBSon' and 'MBC Digital', respectively, making available their existing produced series on digital platforms. This initiative helps sustain the relevance of established TV channels while expanding their digital reach. Meanwhile, the rise of alternative digital platforms is shifting audience preferences towards more flexible viewing options.
Conversely, streaming providers are also solidifying their influence by working alongside traditional TV networks. Netflix has gained worldwide success with Korean dramas like 'Squid Game' and 'Hellbound', leveraging the drama production capabilities of terrestrial broadcasters. This strategic alliance helps both website parties leverage their advantages, fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, legacy TV series and OTT services are both rivaling each other and seeking collaboration through their respective unique approaches. network-produced content maintain traditional genres and broad accessibility, whereas OTT services provide experimental and globally targeted content. As strategic partnerships and merging between these platforms continue to grow, audiences can expect a richer and enhanced content environment in the future.