Broadcasting vs. Streaming Evolution: How Legacy Networks and New Streaming Giants Redefine the Market
Broadcasting vs. Streaming Evolution: How Legacy Networks and New Streaming Giants Redefine the Market
Blog Article
Terrestrial broadcast series have long been established as popular TV shows, produced and broadcast through traditional broadcasting stations. In contrast, streaming services are read more internet-based streaming platforms, with Netflix, Watcha, and Wavve being leading competitors. As media consumption habits evolve, competition between network-produced series and OTT services has intensified. Consequently, each platform is developing original productions and employing differentiated strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with widespread popularity while maintaining time-honored formats. In particular, they actively feature star actors to boost ratings and produce television series that capture the interest of a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and brand trust, 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 distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their influence by employing tactics distinct from network-based television. Firstly, they actively adopt emerging trends and innovative storytelling, prioritizing originality and narrative depth over broad popularity. Secondly, they curate personalized selections that meets the needs of individual tastes, targeting specialized demographics. Lastly, they focus on producing international releases aimed at the worldwide audience, allowing them to grow their fanbase not only domestically but also on a global scale. Through these methods, OTT platforms are building industry dominance in ways distinct from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the digital entertainment industry, competition has escalated. For instance, KBS and a long-established broadcaster operate their own streaming platforms, 'KBS Streaming Hub' and 'MBC Digital', respectively, providing their existing TV shows on online services. This effort helps sustain the relevance of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the rise of new media services is changing consumer behavior towards more user-controlled content access.
Conversely, OTT services are also solidifying their influence by partnering with traditional TV networks. A leading global streaming giant has gained worldwide success with K-content hits like 'Squid Game' and the supernatural dystopian sensation, leveraging the drama production capabilities of Korean TV networks. This strategic alliance helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the distinction between traditional and modern media continue to fade.
Ultimately, terrestrial dramas and streaming platforms are both fighting for dominance and finding common ground through their respective market tactics. network-produced content maintain traditional genres and broad accessibility, whereas digital platforms provide genre-defying and cross-border content. As synergy and cooperation between these platforms continue to expand, audiences can expect a wider-ranging and elevated entertainment experience in the future.
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