Terrestrial dramas have long been established as widely recognized TV programs, produced and broadcast through major network broadcasting stations. In contrast, streaming services are web-powered streaming platforms, with global streaming giants, regional streaming services, and domestic platforms being leading competitors. As viewing trends evolve, competition between terrestrial dramas and OTT services has become fierce. Consequently, each platform is producing unique content and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with broad audience reach while maintaining classic narrative structures. In particular, they actively cast celebrity performers to increase viewer engagement and produce dramas that appeal to a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their long broadcasting experience and established reputation, they continue to deliver time-tested formulas, ensuring reliable audience numbers. This allows audiences to find more ways to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing approaches distinct from legacy media. Firstly, they actively adopt unconventional narratives and experimental formats, prioritizing artistic direction and narrative depth over mass appeal. Secondly, they curate personalized selections that meets the needs of niche preferences, targeting niche audiences. Lastly, they focus on producing international releases aimed at the global market, allowing them to secure viewers not only in their home country but also across different cultures. Through these methods, OTT platforms are redefining the market in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly expand more info into the digital entertainment industry, competition has escalated. For instance, KBS and MBC operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, making available their existing broadcast content on internet-based distribution channels. This strategy helps preserve the market presence of traditional broadcasting platforms while engaging modern audiences. Meanwhile, the emergence of new media services is changing consumer behavior towards more user-controlled content access.
Conversely, streaming providers are also enhancing their competitiveness by partnering with traditional TV networks. A leading global streaming giant 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 collaboration helps both parties leverage their advantages, fostering a richer content environment. As a result, the boundaries between network TV and streaming continue to fade.
Ultimately, legacy TV series and OTT services are both rivaling each other and seeking collaboration through their respective unique approaches. Terrestrial dramas maintain traditional genres and broad accessibility, whereas OTT services provide genre-defying and internationally appealing content. As synergy and merging between these platforms continue to develop, audiences can expect a wider-ranging and elevated content environment in the future.