Terrestrial dramas have long been established as popular TV shows, produced and broadcast through major network broadcasting stations. In contrast, Over-the-Top (OTT) services are digitally distributed streaming platforms, with global streaming giants, Watcha, and domestic platforms being representative examples. As audience preferences evolve, competition between terrestrial dramas and digital streaming platforms has heightened. Consequently, each platform is creating unique content and employing adaptive strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing stories with broad audience reach while maintaining time-honored formats. In particular, they actively cast renowned leads to attract audience interest and produce television series that resonate with a diverse demographic, thereby securing a broad viewer base. Additionally, leveraging their historical credibility and brand trust, they continue to deliver time-tested formulas, ensuring stable viewership ratings. This allows audiences to explore different channels to engage with network television through various distribution channels.
Differentiation Strategies of OTT Services
OTT providers are expanding their subscriber base by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively embrace unconventional narratives and experimental formats, prioritizing originality and cinematic quality over mainstream success. Secondly, they curate customized programming that meets the needs of specific interests, targeting niche audiences. Lastly, they focus on producing globally accessible media aimed at the worldwide audience, allowing them to secure viewers not only in their home country but also across different cultures. Through these methods, OTT services are strengthening their competitiveness in ways distinct from conventional TV networks.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the digital entertainment industry, competition has become fierce. For instance, KBS and a long-established broadcaster operate their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, providing their existing broadcast content on online services. This initiative helps maintain the influence of traditional broadcasting platforms while expanding their digital reach. Meanwhile, the emergence of alternative digital platforms is shifting audience preferences towards more on-demand entertainment.
Conversely, streaming providers are also expanding their dominance by collaborating with traditional TV networks. Netflix has gained massive international recognition with Hallyu series like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This collaboration helps both website parties complement each other’s strengths, fostering a richer content environment. As a result, the lines between terrestrial and digital platforms continue to fade.
Ultimately, legacy TV series and OTT services are both competing and working together through their respective differentiation strategies. Terrestrial dramas maintain traditional genres and mass appeal, whereas digital platforms provide bold and cross-border content. As strategic partnerships and cooperation between these platforms continue to develop, audiences can expect a wider-ranging and elevated media landscape in the future.