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 mainstream TV shows, produced and broadcast through traditional broadcasting stations. In contrast, Over-the-Top (OTT) services are internet-based streaming platforms, with Netflix, regional streaming services, and domestic platforms being leading competitors. As audience preferences evolve, competition between terrestrial dramas and OTT services has become fierce. Consequently, each platform is creating original productions and employing adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with widespread popularity while maintaining traditional storytelling methods. In particular, they actively feature star actors to attract audience interest and produce television series that resonate with a broad spectrum of viewers, thereby securing a loyal audience. Additionally, leveraging their long broadcasting experience and network legacy, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to have multiple options to engage with long-standing formats through various distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing strategies distinct from legacy media. Firstly, they actively incorporate emerging trends and innovative storytelling, prioritizing artistic direction and cinematic quality over mainstream success. Secondly, they provide tailored content that aligns with niche preferences, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the global market, allowing them to grow their fanbase not only domestically but also internationally. Through these approaches, OTT services are redefining the market in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As legacy media companies increasingly penetrate the digital entertainment industry, competition has intensified. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, making available their existing broadcast content on internet-based distribution channels. This initiative helps maintain the influence of legacy networks while engaging modern audiences. Meanwhile, the growth of alternative digital platforms is reshaping viewing habits towards more on-demand entertainment.
Conversely, OTT services are also solidifying their influence by partnering with legacy content producers. Netflix has gained a global following with Korean dramas like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This synergy helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the boundaries between network TV and streaming continue to become less defined.
Ultimately, legacy TV series and OTT services are both competing and seeking collaboration through their respective differentiation strategies. network-produced content maintain traditional genres and broad accessibility, whereas OTT services provide bold and cross-border content. As collaboration and integration between these platforms continue to expand, audiences can expect a richer and enriched entertainment experience in read more the future.
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