Terrestrial dramas have long been established as popular TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, streaming services are internet-based streaming platforms, with global streaming giants, Watcha, and Wavve being leading competitors. As audience preferences evolve, competition between terrestrial dramas and OTT services has become fierce. Consequently, each platform is developing exclusive releases and employing distinct strategies to stay ahead.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing content with widespread popularity while maintaining traditional storytelling methods. In particular, they actively feature celebrity performers to attract audience interest and produce television series that resonate with a wide range of age groups, thereby securing a consistent fanbase. Additionally, leveraging their decades website of industry presence and established reputation, they continue to deliver time-tested formulas, ensuring stable viewership ratings. This allows audiences to find more ways to engage with network television through various mediums.
Differentiation Strategies of OTT Services
OTT services are expanding their influence by employing approaches distinct from legacy media. Firstly, they actively incorporate emerging trends and innovative storytelling, prioritizing creative risk-taking and cinematic quality over mass appeal. Secondly, they curate personalized selections that meets the needs of niche preferences, targeting specialized demographics. Lastly, they focus on producing globally accessible media aimed at the expanding international scene, allowing them to secure viewers not only domestically but also on a global scale. Through these approaches, OTT services are building industry dominance 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 OTT services, 'KBS Streaming Hub' and 'wavve', respectively, providing their existing broadcast content on internet-based distribution channels. This effort helps sustain the relevance of traditional broadcasting platforms while attracting new viewership. Meanwhile, the emergence of alternative digital platforms is reshaping viewing habits towards more on-demand entertainment.
Conversely, OTT services are also expanding their dominance by collaborating with traditional TV networks. A leading global streaming giant has gained worldwide success with K-content hits like 'Squid Game' and 'Hellbound', leveraging the storytelling expertise of Korean TV networks. This synergy helps both parties leverage their advantages, fostering a more dynamic industry. As a result, the distinction between traditional and modern media continue to blur.
Ultimately, terrestrial dramas and streaming platforms are both fighting for dominance and seeking collaboration through their respective differentiation strategies. network-produced content maintain traditional genres and mass appeal, whereas OTT services provide genre-defying and cross-border content. As synergy and merging between these platforms continue to grow, audiences can expect a wider-ranging and enhanced entertainment experience in the future.