Broadcasting vs. OTT Competition: How Legacy Networks and Digital Broadcasters Adapt to Change
Terrestrial dramas have long been established as popular TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with global streaming giants, Watcha, and domestic platforms being leading competitors. As media consumption habits evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is producing exclusive releases and employing adaptive strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with broad audience reach while maintaining classic narrative structures. In particular, they actively highlight celebrity performers to boost ratings and produce narratives that resonate with a diverse demographic, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and established reputation, they continue to deliver time-tested formulas, ensuring reliable audience numbers. This allows audiences to have multiple options to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their influence by employing strategies distinct from network-based television. Firstly, they actively adopt emerging trends and innovative storytelling, prioritizing creative risk-taking and narrative depth over mass appeal. Secondly, they offer personalized selections that aligns with niche preferences, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the global market, allowing them to grow their fanbase not only within their region but also across different cultures. Through these methods, OTT services are strengthening their competitiveness in ways different from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As legacy media companies increasingly expand into the OTT market, competition has intensified. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own streaming platforms, 'KBSon' and 'wavve', respectively, distributing their existing broadcast content on online services. This strategy helps maintain the influence of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the emergence of new media services is reshaping viewing habits towards more flexible viewing options.
Conversely, digital platforms are also expanding their dominance by working alongside traditional TV networks. Netflix has gained massive international recognition with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the 후후티비 drama production capabilities of terrestrial broadcasters. This collaboration helps both parties complement each other’s strengths, fostering a diverse storytelling landscape. As a result, the boundaries between network TV and streaming continue to become less defined.
Ultimately, terrestrial dramas and OTT services are both competing and working together through their respective differentiation strategies. network-produced content maintain established storytelling and general audience focus, whereas OTT services provide genre-defying and cross-border content. As collaboration and cooperation between these platforms continue to develop, audiences can expect a richer and elevated content environment in the future.