Broadcasting vs. OTT Competition: How Terrestrial Platforms and OTT Platforms Innovate
Terrestrial broadcast series have long been established as popular TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) services are web-powered streaming platforms, with global streaming giants, Watcha, and domestic platforms being leading competitors. As media consumption habits evolve, competition between terrestrial dramas and digital streaming platforms has intensified. Consequently, each platform is developing unique content and employing differentiated strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with high mass appeal while maintaining traditional storytelling methods. In particular, they actively highlight celebrity performers to attract audience interest and produce dramas that capture the interest of a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their historical credibility and brand trust, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to find more ways to engage with network television through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their influence by employing strategies distinct from network-based television. Firstly, they actively embrace emerging trends and innovative storytelling, prioritizing creative risk-taking and narrative depth over mainstream success. Secondly, they provide personalized selections that aligns with specific interests, targeting specialized demographics. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to attract subscribers not only domestically but also internationally. Through these approaches, OTT services are strengthening their competitiveness in ways distinct from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly penetrate the digital entertainment industry, competition has intensified. For instance, KBS and MBC operate their own OTT services, 'KBS Streaming Hub' and 'MBC Digital', respectively, providing their existing broadcast content on digital platforms. This initiative helps sustain the relevance of traditional broadcasting platforms while attracting new viewership. Meanwhile, the emergence of alternative digital platforms is shifting audience preferences towards more on-demand entertainment.
Conversely, OTT services are also solidifying their influence by partnering with legacy content producers. A leading global streaming giant has gained massive international recognition with Hallyu series like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of terrestrial broadcasters. This strategic alliance helps both parties leverage their advantages, fostering a more dynamic industry. As a result, the boundaries between network TV and streaming continue to blur.
Ultimately, terrestrial dramas and streaming platforms are both competing and finding common ground through their respective differentiation strategies. Terrestrial dramas maintain established storytelling and broad accessibility, whereas OTT services provide bold and internationally click here appealing content. As collaboration and cooperation between these platforms continue to develop, audiences can expect a more diverse and elevated media landscape in the future.