Broadcasting vs. Digital Transition: How Traditional Media and New Streaming Giants Innovate
Broadcasting vs. Digital Transition: How Traditional Media and New Streaming Giants Innovate
Blog Article
Terrestrial broadcast series have long been established as popular TV programs, produced and broadcast through major network broadcasting stations. In contrast, Over-the-Top (OTT) services are internet-based streaming platforms, with global streaming giants, Watcha, and Wavve being representative examples. As audience preferences evolve, competition between network-produced series and digital streaming platforms has heightened. Consequently, each platform here is creating original productions and employing distinct strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with high mass appeal while maintaining traditional storytelling methods. In particular, they actively feature celebrity performers to increase viewer engagement and produce dramas that resonate with a wide range of age groups, thereby securing a broad viewer base. Additionally, leveraging their long broadcasting experience and network legacy, they continue to present familiar content, ensuring consistent success. This allows audiences to have multiple options to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT providers are expanding their market by employing strategies distinct from legacy media. Firstly, they actively incorporate new genres and experimental formats, prioritizing artistic direction and artistry over mass appeal. Secondly, they provide customized programming that meets the needs of individual tastes, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to secure viewers not only within their region but also internationally. Through these methods, OTT services are strengthening their competitiveness in ways unlike legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly expand into the OTT market, competition has escalated. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBSon' and 'MBC Digital', respectively, distributing their existing produced series on online services. This effort helps maintain the influence of traditional broadcasting platforms while engaging modern audiences. Meanwhile, the emergence of competing streaming networks is changing consumer behavior towards more on-demand entertainment.
Conversely, OTT services are also expanding their dominance by working alongside terrestrial broadcasters. Netflix has gained a global following with K-content hits like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of Korean TV networks. This strategic alliance helps both parties maximize their potential, fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to become less defined.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and finding common ground through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and broad accessibility, whereas digital platforms provide experimental and globally targeted content. As synergy and merging between these platforms continue to grow, audiences can expect a richer and enriched content environment in the future.
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