Terrestrial dramas have long been established as popular TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with Netflix, Watcha, and Wavve being leading competitors. As media consumption habits evolve, competition between network-produced series and OTT services has intensified. Consequently, each platform is creating original productions and employing differentiated strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing stories with high mass appeal while maintaining time-honored formats. In particular, they actively feature celebrity performers to attract audience interest and produce dramas that capture the interest of a broad spectrum of viewers, 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 have multiple options to engage with network television through various distribution channels.
Differentiation Strategies of OTT Services
OTT providers are expanding their market by employing strategies distinct from legacy media. Firstly, they actively embrace new genres and unique structures, prioritizing creative risk-taking and artistry over broad popularity. Secondly, they curate customized programming that caters to niche preferences, targeting niche audiences. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to secure viewers not only domestically but also internationally. Through these strategies, OTT services are redefining the market in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly penetrate the OTT market, competition has escalated. For instance, KBS and a long-established broadcaster operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, making available their existing broadcast content on internet-based distribution channels. This initiative helps preserve the market presence of established TV channels while expanding their digital reach. Meanwhile, the growth of alternative digital platforms is reshaping viewing habits towards more flexible viewing options.
Conversely, digital platforms are also expanding their dominance by partnering with terrestrial broadcasters. A leading global streaming giant has gained a global following with Korean dramas like 'Squid Game' and 'Hellbound', leveraging the drama production capabilities of traditional industry leaders. This strategic alliance helps both parties maximize their potential, fostering a richer content environment. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and seeking collaboration through their respective unique approaches. network-produced content maintain established storytelling and mass appeal, whereas digital platforms provide genre-defying and internationally appealing content. As strategic partnerships and cooperation between these platforms continue to develop, audiences can expect more info a more diverse and elevated entertainment experience in the future.