Terrestrial dramas have long been established as popular TV programs, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) 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 digital streaming platforms has become fierce. Consequently, each platform is developing unique content and employing differentiated strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with broad audience reach while maintaining time-honored formats. In particular, they actively feature star actors to boost ratings and produce dramas that appeal to a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their long broadcasting experience and network legacy, they continue to present familiar content, ensuring reliable audience numbers. This allows audiences to have multiple options to engage with long-standing formats through various distribution channels.
Differentiation Strategies of OTT Services
OTT platforms are expanding their influence by employing approaches distinct from traditional terrestrial broadcasting. Firstly, they actively incorporate emerging trends and experimental formats, prioritizing artistic direction and narrative depth over mass appeal. Secondly, they offer personalized selections that aligns with niche preferences, targeting specialized demographics. Lastly, they focus on producing multinational content aimed at the global market, allowing them to grow their fanbase not only within their region 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 legacy media companies increasingly expand into the streaming space, competition has intensified. For instance, KBS and MBC operate click here their own streaming platforms, 'KBS Streaming Hub' and 'wavve', respectively, providing their existing broadcast content on internet-based distribution channels. This effort helps preserve the market presence of traditional broadcasting platforms while attracting new viewership. Meanwhile, the growth of alternative digital platforms is shifting audience preferences towards more on-demand entertainment.
Conversely, streaming providers are also solidifying their influence by partnering with terrestrial broadcasters. Netflix has gained worldwide success with Hallyu series like 'Squid Game' and 'Hellbound', leveraging the drama production capabilities of terrestrial broadcasters. This strategic alliance helps both parties complement each other’s strengths, 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 fighting for dominance and finding common ground through their respective differentiation strategies. network-produced content maintain established storytelling and broad accessibility, whereas OTT services provide genre-defying and internationally appealing content. As synergy and merging between these platforms continue to expand, audiences can expect a richer and enriched media landscape in the future.