Terrestrial dramas have long been established as popular TV programs, produced and broadcast through major network broadcasting stations. In contrast, Over-the-Top (OTT) services are internet-based streaming platforms, with global streaming giants, Watcha, and domestic platforms being leading competitors. As audience preferences evolve, competition between network-produced series and OTT services has heightened. Consequently, each platform is developing unique content 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 star actors to attract audience interest and produce television series that capture the interest of a wide range of age groups, thereby securing a broad viewer base. Additionally, leveraging their decades of industry presence and brand trust, they continue to offer traditional stories, ensuring stable viewership ratings. This allows audiences to have multiple options to engage with network television through various mediums.
Differentiation Strategies of OTT Services
OTT services are expanding their subscriber base by employing approaches distinct from legacy media. Firstly, they actively embrace unconventional narratives and experimental formats, prioritizing creative risk-taking and narrative depth over mainstream success. Secondly, they curate personalized selections that aligns with individual tastes, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the expanding international scene, allowing them to attract subscribers not only within their region but also internationally. Through these methods, OTT services are redefining the market in ways unlike legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly penetrate the streaming space, competition has become fierce. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own OTT services, 'KBSon' and 'wavve', respectively, providing their existing broadcast content on online services. This effort helps sustain the relevance of established TV channels while engaging modern audiences. Meanwhile, the emergence of alternative digital platforms is changing consumer behavior towards more on-demand entertainment.
Conversely, OTT services are also enhancing their competitiveness by partnering with legacy content producers. A leading global streaming giant has here gained worldwide success with Hallyu series like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of Korean TV networks. This strategic alliance helps both parties complement each other’s strengths, fostering a diverse storytelling landscape. As a result, the lines between terrestrial and digital platforms continue to blur.
Ultimately, legacy TV series and OTT services are both competing and working together through their respective unique approaches. network-produced content maintain classic formats and general audience focus, whereas OTT services provide bold and globally targeted content. As strategic partnerships and merging between these platforms continue to expand, audiences can expect a wider-ranging and enhanced entertainment experience in the future.