Broadcasting vs. Digital Transition: How Traditional Media and Digital Broadcasters Redefine the Market
Terrestrial dramas have long been established as mainstream TV shows, produced and broadcast through major network broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with global streaming giants, Watcha, and Wavve being representative examples. As audience preferences evolve, competition between terrestrial dramas and digital streaming platforms has become fierce. Consequently, each platform is creating exclusive releases and employing adaptive strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing content with high mass appeal while maintaining traditional storytelling methods. In particular, they actively feature renowned leads to attract audience interest and produce television series that resonate with a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and brand trust, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to explore different channels to engage with network television through various platforms.
Differentiation Strategies of OTT Services
OTT platforms are expanding their market by employing strategies distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate unconventional narratives and innovative storytelling, prioritizing creative risk-taking and cinematic quality over mainstream success. Secondly, they curate tailored content that aligns with specific interests, targeting niche audiences. Lastly, they focus on producing globally accessible media aimed at the worldwide audience, allowing them to secure viewers not only in their home country but also internationally. Through these methods, OTT platforms are redefining the market in ways distinct from conventional TV networks.
Competition and Collaboration read more Between Platforms
As legacy media companies increasingly penetrate the digital entertainment industry, competition has become fierce. For instance, one of Korea’s leading networks and MBC operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, providing their existing TV shows on internet-based distribution channels. This initiative helps preserve the market presence of established TV channels while engaging modern audiences. Meanwhile, the growth of new media services is changing consumer behavior towards more on-demand entertainment.
Conversely, OTT services are also solidifying their influence by partnering with legacy content producers. A leading global streaming giant has gained a global following with Hallyu series like 'Squid Game' and 'Hellbound', leveraging the high-quality filming standards of Korean TV networks. This strategic alliance helps both parties leverage their advantages, fostering a richer content environment. As a result, the lines between terrestrial and digital platforms continue to fade.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and finding common ground through their respective differentiation strategies. Terrestrial dramas maintain established storytelling and general audience focus, whereas digital platforms provide experimental and cross-border content. As synergy and merging between these platforms continue to develop, audiences can expect a wider-ranging and enhanced entertainment experience in the future.