The 1990s hit drama Sandglass, which once achieved nearly 65% viewership and reshaped the history of Korean television, is now available on Netflix as part of its “Classic Rewatch” collection. The nostalgic series, known for its iconic lines, has been receiving a strong response from younger viewers in their 20s and 30s. (Image courtesy of SBS)
SEOUL, Feb. 3 (Korea Bizwire) — As the global streaming market enters a period of maturity, industry players are shifting their focus from fierce competition to strategic partnerships and content diversification.
This evolving landscape is expected to provide subscribers with a wider array of choices while fostering cross-generational engagement through both short-form content and classic TV series.
Expanding Audience Reach with Short-Form and Classic Content
Streaming services are increasingly tailoring their content strategies to appeal to different demographics. Younger viewers in their 20s and 30s are driving the popularity of short-form videos, while audiences in their 40s and 50s are drawn to the re-release of classic television dramas.
According to the Korea Communications Commission’s 2024 media usage report, short-form content ranked as the most-watched category among smartphone users, with 41.8% consuming such content at least five times a week.
Additionally, 70.7% of online video streaming service (OTT) users reported favoring platforms that offer short-form videos.
Tving has capitalized on this trend by launching its ‘Shorts’ feature, repurposing existing content into vertical-format videos. The company also plans to introduce original short-form dramas and variety shows later this year.
Meanwhile, the demand for classic content remains strong, particularly among older viewers. The same media usage report found that 90.7% of people in their 40s and 85.9% of those in their 50s now use OTT services.
To cater to this audience, Netflix has expanded its library to include SBS’s renowned dramas such as Sandglass, Hot Stove League, and The Penthouse. The platform also plans to release nostalgic hits like Rustic Period and All In.
“Partnerships like the one between Netflix and SBS reflect a shift in the industry, where streaming platforms are exploring diverse business models to attract viewers,” said Kim Yong-hee, a researcher at OpenRoot. “With this evolving content strategy, audiences will have more viewing options than ever.”
The 1990s hit drama Sandglass, which is driving the popularity of Netflix’s Classic Rewatch collection, is gaining renewed attention as it offers a glimpse of Squid Game star Lee Jung-jae in his 20s. At the time, Lee played the role of the female lead’s bodyguard, a performance that earned him immense popularity. (Image courtesy of SBS)
Strengthening Alliances in the Streaming Market
This year, streaming platforms are expected to further emphasize collaboration. The Naver Plus Membership, launched in partnership with Netflix last year, has gained significant traction by offering a low-cost subscription option that includes Netflix access.
Other industry developments include the ongoing merger of Tving and Wavve, as well as the growing number of bundled subscription packages between OTT services and telecommunications companies.
These moves reflect a broader effort to enhance market sustainability by offering bundled services at competitive prices.
Ashley Song (ashley@koreabizwire.com)
