Broadcasting vs. Streaming Evolution: How Traditional Media and Digital Broadcasters Redefine the Market
Broadcasting vs. Streaming Evolution: How Traditional Media and Digital Broadcasters Redefine the Market
Blog Article
Terrestrial dramas have long been established as widely recognized TV shows, produced and broadcast through traditional broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As media consumption habits evolve, competition between network-produced series and digital streaming platforms has intensified. Consequently, each platform is creating exclusive releases and employing adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with widespread popularity while maintaining time-honored formats. In particular, they actively cast renowned leads to attract audience interest and produce narratives that appeal to a diverse demographic, thereby securing a broad viewer base. Additionally, leveraging their decades of industry presence and brand trust, they continue to deliver time-tested formulas, 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 services are expanding their market by employing tactics distinct from network-based television. Firstly, they actively adopt unconventional narratives and innovative storytelling, prioritizing creative risk-taking and cinematic quality over broad popularity. Secondly, they provide personalized selections that meets the needs of specific interests, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to attract subscribers not only within their region but also internationally. Through these methods, OTT platforms are redefining the market in ways distinct from legacy channels.
Competition and Collaboration Between Platforms
As terrestrial website broadcasters increasingly enter the OTT market, competition has intensified. For instance, KBS and a long-established broadcaster operate their 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 legacy networks while expanding their digital reach. Meanwhile, the rise of alternative digital platforms is changing consumer behavior towards more flexible viewing options.
Conversely, digital platforms are also solidifying their influence by working alongside traditional TV networks. A leading global streaming giant has gained a global following with Korean dramas like 'Squid Game' and 'Hellbound', leveraging the high-quality filming standards of terrestrial broadcasters. This strategic alliance helps both parties leverage their advantages, fostering a richer content environment. As a result, the boundaries between network TV and streaming continue to blur.
Ultimately, legacy TV series and streaming platforms are both competing and working together through their respective unique approaches. Terrestrial dramas maintain traditional genres and mass appeal, whereas digital platforms provide genre-defying and internationally appealing content. As collaboration and merging between these platforms continue to develop, audiences can expect a wider-ranging and enhanced content environment in the future.
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