Broadcasting vs. Digital Transition: How Legacy Networks and New Streaming Giants Redefine the Market
Broadcasting vs. Digital Transition: How Legacy Networks and New Streaming Giants Redefine the Market
Blog Article
Terrestrial broadcast series have long been established as widely recognized TV shows, produced and broadcast through traditional broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with Netflix, regional streaming services, and Wavve being representative examples. As media consumption habits evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is developing exclusive releases and employing distinct strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with widespread popularity while maintaining time-honored formats. In particular, they actively highlight star actors to attract audience interest and produce television series that capture the interest of a broad spectrum of viewers, thereby securing a loyal audience. Additionally, leveraging their historical credibility and brand trust, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to explore different channels to engage with traditional content through various distribution channels.
Differentiation Strategies of OTT Services
OTT providers are expanding their influence by employing strategies distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate new genres and experimental formats, prioritizing creative risk-taking and artistry over mainstream success. Secondly, they offer personalized selections that meets the needs of niche preferences, targeting niche audiences. Lastly, they focus on producing globally accessible media aimed at the global market, allowing them to secure viewers not only domestically but also internationally. Through these strategies, OTT services are strengthening their competitiveness in ways unlike conventional TV networks.
Competition and Collaboration Between Platforms
As legacy media companies increasingly penetrate the streaming space, competition has escalated. here For instance, KBS and a long-established broadcaster operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, distributing their existing TV shows on online services. This effort helps sustain the relevance of legacy networks while expanding their digital reach. Meanwhile, the growth of new media services is shifting audience preferences towards more flexible viewing options.
Conversely, digital platforms are also solidifying their influence by working alongside legacy content producers. Netflix has gained worldwide success with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the drama production capabilities of Korean TV networks. This synergy helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the lines between terrestrial and digital platforms continue to fade.
Ultimately, legacy TV series and OTT services are both rivaling each other and working together through their respective unique approaches. Terrestrial dramas maintain classic formats and broad accessibility, whereas digital platforms provide genre-defying and cross-border content. As collaboration and cooperation between these platforms continue to expand, audiences can expect a wider-ranging and elevated content environment in the future.
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