Terrestrial broadcast series have long been established as popular TV shows, produced and broadcast through terrestrial broadcasting stations. In contrast, Over-the-Top (OTT) services are web-powered streaming platforms, with global streaming giants, regional streaming services, and domestic platforms being leading competitors. As media consumption habits evolve, competition between network-produced series and digital streaming platforms has become fierce. Consequently, each platform is creating unique content and employing differentiated strategies to strengthen its competitiveness.
Differentiation Strategies of Terrestrial Dramas
Terrestrial dramas focus on providing content with broad audience reach while maintaining traditional storytelling methods. In particular, they actively feature renowned leads to increase viewer engagement and produce dramas that capture the interest of a diverse demographic, thereby securing a loyal audience. Additionally, leveraging their decades of industry presence and network legacy, they continue to deliver time-tested formulas, ensuring reliable audience numbers. This allows audiences to explore different channels to engage with network television through various platforms.
Differentiation Strategies of OTT Services
OTT services are expanding their market by employing strategies distinct from traditional terrestrial broadcasting. Firstly, they actively adopt unconventional narratives and innovative storytelling, prioritizing creative risk-taking and cinematic quality over mainstream success. Secondly, they curate personalized selections that aligns with specific interests, targeting unique fan bases. Lastly, they focus on producing international releases aimed at the worldwide audience, allowing them to attract subscribers not only within their region but also on a global scale. Through these methods, OTT services are strengthening their competitiveness in ways different from legacy channels.
Competition and Collaboration Between Platforms
As legacy media companies increasingly expand into the digital entertainment industry, competition has escalated. For instance, one of Korea’s leading networks and a long-established broadcaster operate their own OTT services, 'KBS Streaming Hub' and 'wavve', respectively, distributing their existing broadcast content on internet-based distribution channels. This effort helps preserve the market presence of legacy networks while engaging modern audiences. Meanwhile, the emergence of new media services is reshaping viewing habits towards more flexible viewing options.
Conversely, OTT services are also expanding their dominance by working alongside legacy content producers. A leading global streaming website giant has gained worldwide success with K-content hits like the breakout survival thriller and 'Hellbound', leveraging the storytelling expertise of traditional industry leaders. This strategic alliance helps both parties complement each other’s strengths, fostering a richer content environment. As a result, the boundaries between network TV and streaming continue to become less defined.
Ultimately, legacy TV series and streaming platforms are both rivaling each other and working together through their respective unique approaches. Terrestrial dramas maintain established storytelling and mass appeal, whereas digital platforms provide experimental and cross-border content. As strategic partnerships and merging between these platforms continue to expand, audiences can expect a wider-ranging and enhanced media landscape in the future.