Terrestrial dramas have long been established as popular TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, online services are web-powered streaming platforms, with global streaming giants, Watcha, and Wavve being leading competitors. As audience preferences evolve, competition between network-produced series and OTT services has become fierce. Consequently, each platform is developing exclusive releases and employing differentiated strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with broad audience reach while maintaining traditional storytelling methods. In particular, they actively cast renowned leads to attract audience interest and produce dramas that appeal to a broad spectrum of viewers, thereby securing a loyal audience. Additionally, leveraging their long broadcasting experience and network legacy, 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 platforms are expanding their subscriber base by employing approaches distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate unconventional narratives and innovative storytelling, prioritizing originality and artistry over broad popularity. Secondly, they curate personalized selections that caters to niche preferences, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the expanding international scene, allowing them to secure viewers not only domestically but also internationally. Through these methods, OTT platforms are redefining the market in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into the digital entertainment industry, competition has intensified. For instance, KBS and a long-established broadcaster operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, making available their existing produced series on digital platforms. This strategy helps maintain the influence of legacy networks while expanding their digital reach. Meanwhile, the growth of new media services is reshaping viewing habits towards more user-controlled content access.
Conversely, streaming providers are also enhancing their competitiveness by partnering with terrestrial broadcasters. Netflix has gained a global following with K-content hits like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of traditional industry leaders. This collaboration 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 streaming platforms are both fighting for dominance and finding common ground through their respective market tactics. Terrestrial dramas maintain traditional genres and mass appeal, whereas digital platforms provide genre-defying website and internationally appealing content. As collaboration and merging between these platforms continue to develop, audiences can expect a more diverse and enhanced content environment in the future.