Broadcasting vs. OTT Competition: How Traditional Media and New Streaming Giants Redefine the Market

Terrestrial broadcast series have long been established as mainstream TV shows, produced and broadcast through traditional broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with Netflix, regional streaming services, and Wavve 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 differentiated strategies to maintain relevance.

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 star actors to increase viewer engagement and produce television series that capture the interest of a broad spectrum of viewers, thereby securing a consistent fanbase. Additionally, leveraging their long broadcasting experience and established reputation, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to explore different channels to engage with long-standing formats through various distribution channels.

Differentiation Strategies of OTT Services

OTT providers are expanding their market by employing strategies distinct from legacy media. Firstly, they actively incorporate new genres and innovative storytelling, prioritizing artistic direction and narrative depth over broad popularity. Secondly, they offer personalized selections that aligns with individual tastes, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the worldwide audience, allowing them to secure viewers not only domestically but also across different cultures. Through these approaches, OTT services are strengthening their competitiveness in ways unlike legacy channels.

Competition and Collaboration Between Platforms

As major TV networks increasingly penetrate the OTT market, competition has escalated. For instance, one of Korea’s leading networks and a long-established broadcaster operate their 후후티비 own streaming platforms, 'KBS Streaming Hub' and 'MBC Digital', respectively, providing their existing broadcast content on digital platforms. This effort helps preserve the market presence of traditional broadcasting platforms while engaging modern audiences. Meanwhile, the emergence of new media services is shifting audience preferences towards more flexible viewing options.

Conversely, digital platforms are also solidifying their influence by collaborating with legacy content producers. A leading global streaming giant has gained a global following with Hallyu series like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of terrestrial broadcasters. This synergy helps both parties leverage their advantages, fostering a richer content environment. As a result, the distinction between traditional and modern media continue to become less defined.

Ultimately, terrestrial dramas and OTT services are both competing and seeking collaboration through their respective market tactics. network-produced content maintain established storytelling and mass appeal, whereas digital platforms provide bold and internationally appealing content. As collaboration and merging between these platforms continue to develop, audiences can expect a wider-ranging and enriched content environment in the future.

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