Terrestrial broadcast series have long been established as popular TV shows, produced and broadcast through traditional broadcasting stations. In contrast, Over-the-Top (OTT) services are web-powered streaming platforms, with Netflix, regional streaming services, and Wavve being leading competitors. As audience preferences evolve, competition between network-produced series and digital streaming platforms has heightened. Consequently, each platform is creating original productions and employing differentiated strategies to maintain relevance.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing productions with broad audience reach while maintaining traditional storytelling methods. In particular, they actively feature renowned leads to attract audience interest and produce dramas that resonate with a wide range of age groups, thereby securing a loyal audience. Additionally, leveraging their historical credibility and network legacy, they continue to present familiar content, ensuring consistent success. This allows audiences to explore different channels to engage with long-standing formats through various distribution channels.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing tactics distinct from traditional terrestrial broadcasting. Firstly, they actively embrace unconventional narratives and unique structures, prioritizing creative risk-taking and artistry over mass appeal. Secondly, they provide customized programming that meets the needs of individual tastes, targeting niche audiences. Lastly, they focus on producing globally accessible media aimed at the worldwide audience, allowing them to grow their fanbase not only domestically but also on a global scale. Through these methods, OTT services are building industry dominance in ways different from legacy channels.
Competition and click here Collaboration Between Platforms
As terrestrial broadcasters increasingly expand into the streaming space, competition has intensified. For instance, KBS and a long-established broadcaster operate their own OTT services, 'KBS Streaming Hub' and 'wavve', respectively, making available their existing TV shows on digital platforms. This initiative helps preserve the market presence of traditional broadcasting platforms while engaging modern audiences. Meanwhile, the emergence of competing streaming networks is changing consumer behavior towards more flexible viewing options.
Conversely, streaming providers are also expanding their dominance by collaborating with legacy content producers. A leading global streaming giant has gained massive international recognition with K-content hits like 'Squid Game' and the supernatural dystopian sensation, leveraging the high-quality filming standards of traditional industry leaders. This collaboration helps both parties leverage their advantages, fostering a more dynamic industry. As a result, the lines between terrestrial and digital platforms continue to blur.
Ultimately, terrestrial dramas and OTT services are both competing and working together through their respective differentiation strategies. network-produced content maintain traditional genres and broad accessibility, whereas digital platforms provide genre-defying and internationally appealing content. As strategic partnerships and cooperation between these platforms continue to expand, audiences can expect a richer and elevated entertainment experience in the future.