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 programs, produced and broadcast through traditional broadcasting stations. In contrast, online services are web-powered streaming platforms, with global streaming giants, Watcha, and Wavve being leading competitors. As media consumption habits evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is creating original productions and employing adaptive strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with high mass appeal while maintaining traditional storytelling methods. In particular, they actively feature star actors to boost ratings and produce dramas that resonate with a wide range of age groups, thereby securing a broad viewer base. Additionally, leveraging their historical credibility and brand trust, they continue to present familiar content, ensuring stable viewership ratings. This allows audiences to have multiple options to engage with network television through various distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their influence by employing tactics distinct from legacy media. Firstly, they actively adopt new genres and innovative storytelling, prioritizing creative risk-taking and narrative depth over mainstream success. Secondly, they provide customized programming that meets the needs of specific interests, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to secure viewers not only in their home country but also on a global scale. Through these approaches, OTT services are strengthening their competitiveness in ways distinct from traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As legacy media companies increasingly expand into the digital entertainment industry, competition has escalated. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own streaming platforms, 'KBSon' and 'MBC Digital', respectively, providing their existing broadcast content on digital platforms. This strategy helps preserve the market presence of established TV channels 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 enhancing their competitiveness by partnering with legacy content producers. A leading global streaming giant has gained worldwide success with Korean dramas like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of terrestrial broadcasters. This synergy helps both parties maximize their potential, fostering a more dynamic industry. As a result, the boundaries between network TV and streaming continue to fade.
Ultimately, terrestrial dramas and streaming platforms are both fighting for dominance and seeking collaboration through their respective differentiation strategies. network-produced content maintain classic formats and mass appeal, whereas digital platforms provide experimental and cross-border content. As collaboration and integration between these platforms continue to grow, audiences can expect a more diverse and enhanced media landscape in the future. read more
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