Broadcasting vs. Digital Transition: How Legacy Networks and New Streaming Giants Redefine the Market
Terrestrial dramas have long been established as widely recognized TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, online services are digitally distributed streaming platforms, with Netflix, Watcha, and Wavve being leading competitors. As viewing trends evolve, competition between terrestrial dramas and digital streaming platforms has intensified. Consequently, each platform is developing original productions and employing differentiated strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing stories with widespread popularity while maintaining classic narrative structures. In particular, they actively feature renowned leads to boost ratings and produce narratives that appeal to a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their historical credibility and established reputation, they continue to deliver time-tested formulas, ensuring consistent success. This allows audiences to find more ways to engage with long-standing formats through various mediums.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing approaches distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate unconventional narratives and innovative storytelling, prioritizing artistic direction and narrative depth over mainstream success. Secondly, they offer tailored content that caters to niche preferences, targeting unique fan bases. Lastly, they focus on producing globally accessible media 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 platforms are redefining the market in ways different from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into the OTT market, competition has escalated. For instance, one of Korea’s 후후티비2 leading networks and a long-established broadcaster operate their own streaming platforms, 'KBSon' and 'wavve', respectively, distributing their existing broadcast content on internet-based distribution channels. This effort helps maintain the influence of established TV channels while attracting new viewership. Meanwhile, the growth of alternative digital platforms is reshaping viewing habits towards more user-controlled content access.
Conversely, streaming providers are also enhancing their competitiveness by collaborating with traditional TV networks. Netflix has gained massive international recognition with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of Korean TV networks. This strategic alliance 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 blur.
Ultimately, legacy TV series and OTT services are both rivaling each other and working together through their respective market tactics. network-produced content maintain established storytelling and general audience focus, whereas digital platforms provide genre-defying and globally targeted content. As collaboration and merging between these platforms continue to develop, audiences can expect a wider-ranging and enhanced media landscape in the future.