Terrestrial dramas have long been established as widely recognized TV shows, produced and broadcast through traditional broadcasting stations. In contrast, Over-the-Top (OTT) services are digitally distributed streaming platforms, with global streaming giants, regional streaming services, and Wavve being representative examples. As media consumption habits evolve, competition between terrestrial dramas and digital streaming platforms has become fierce. Consequently, each platform is producing original productions and employing distinct strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing stories with broad audience reach while maintaining classic narrative structures. In particular, they actively feature renowned leads to increase viewer engagement and produce narratives that resonate with a diverse demographic, thereby securing a consistent fanbase. Additionally, leveraging their historical credibility and established reputation, they continue to present familiar content, ensuring consistent success. This allows audiences to find more ways to engage with network television through various mediums.
Differentiation Strategies of OTT Services
OTT providers are expanding their subscriber base by employing strategies distinct from legacy media. Firstly, they actively adopt unconventional narratives and experimental formats, prioritizing originality and narrative depth over broad popularity. Secondly, they provide personalized selections that caters to individual tastes, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the worldwide audience, allowing them to secure viewers not only in their home country but also on a global scale. Through these strategies, OTT platforms are redefining the market in ways unlike traditional terrestrial broadcasting.
Competition and Collaboration Between Platforms
As legacy media companies increasingly enter the streaming space, 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 digital platforms. This initiative helps maintain the influence of established TV channels while engaging modern audiences. Meanwhile, the rise of new media services is changing consumer behavior towards more on-demand entertainment.
Conversely, streaming providers are also expanding their dominance by partnering with traditional TV networks. A leading global streaming giant has gained worldwide success with K-content hits like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of Korean TV networks. This synergy helps both parties complement each other’s strengths, fostering a richer content environment. As a result, the distinction between traditional and modern media continue to become less defined.
Ultimately, legacy TV series and OTT services are both fighting for dominance and working together through their respective market tactics. network-produced content maintain traditional genres and general audience focus, whereas OTT services provide experimental and cross-border content. As strategic partnerships and cooperation between these platforms continue to expand, audiences can expect a richer and more info enhanced content environment in the future.