Terrestrial dramas have long been established as popular TV programs, produced and broadcast through traditional broadcasting stations. In contrast, streaming services are web-powered streaming platforms, with global streaming giants, Watcha, and Wavve being representative examples. As media consumption habits evolve, competition between network-produced series and OTT services has become fierce. Consequently, each platform is creating exclusive releases and employing adaptive strategies more info to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial broadcast series focus on providing productions with broad audience reach while maintaining classic narrative structures. In particular, they actively highlight star actors to attract audience interest and produce television series that capture the interest of a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their long broadcasting experience and brand trust, they continue to offer traditional stories, ensuring reliable audience numbers. This allows audiences to have multiple options to engage with traditional content through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing tactics distinct from legacy media. Firstly, they actively incorporate emerging trends and unique structures, prioritizing originality and artistry over mainstream success. Secondly, they provide tailored content that meets the needs of niche preferences, targeting niche audiences. Lastly, they focus on producing multinational content aimed at the global market, allowing them to secure viewers not only within their region but also internationally. Through these approaches, OTT platforms are building industry dominance in ways different from conventional TV networks.
Competition and Collaboration Between Platforms
As major TV networks increasingly enter the streaming space, competition has intensified. For instance, KBS and a long-established broadcaster operate their own streaming platforms, 'KBS Streaming Hub' and 'MBC Digital', respectively, making available their existing produced series on online services. This strategy helps sustain the relevance of established TV channels while engaging modern audiences. Meanwhile, the growth of new media services is shifting audience preferences towards more on-demand entertainment.
Conversely, OTT services are also expanding their dominance by partnering with traditional TV networks. Netflix has gained worldwide success with Korean dramas like 'Squid Game' and the supernatural dystopian sensation, leveraging the storytelling expertise of terrestrial broadcasters. This synergy helps both parties leverage their advantages, fostering a diverse storytelling landscape. As a result, the boundaries between network TV and streaming continue to fade.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and finding common ground through their respective market tactics. network-produced content maintain established storytelling and mass appeal, whereas OTT services provide experimental and cross-border content. As synergy and merging between these platforms continue to develop, audiences can expect a more diverse and elevated entertainment experience in the future.