The emergence of Netflix has caused a crisis for broadcast TV, as OTT continues to gain popularity. This trend has resulted in some variety shows receiving 0% viewer ratings.
It is especially startling that the variety show “My Name Is Gabriel”, produced by renowned PD Kim Tae-ho, received a 0% viewer rating.
On July 21st, Nielsen Korea reported that the fifth episode of “My Name Is Gabriel”(hereinafter referred to as “Gabriel”), which was broadcast on July 19th, received a household rating of 0.9% nationwide.
“This marks a decrease from the previous episode’s 1.4% rating and is the lowest rating the show has received so far. The first episode of “Gabriel”aired on June 21st with a 1.5% rating and has consistently stayed in the 1% range since then. Despite efforts to keep its rating above 1%, the show has now dropped to the 0% range.”
“The arrival of “Gabriel”was greatly anticipated even prior to its airing, as it was the latest work from renowned PD Kim Tae-ho. Additionally, the star-studded cast of Yeom Hye-ran, Ji Chang-wook, Park Bo-gum, and Dex only added to the excitement surrounding the show.”
The rise of Netflix and other OTT platforms has resulted in a notable decrease in the number of viewers for traditional broadcast content. As a result, there has been an emergence of dramas with 0% viewer ratings and a decline in overall TV viewership. OTT platforms are now dominating the once-dominant realm of variety shows and dramas previously held by TV networks.
In the previous year, there was a decline in the total revenue of broadcast companies, marking the first decrease in ten years. Additionally, the advertising revenue reached its lowest point in the last decade.
The decline in subscribers for paid TV services has reached a critical point. Both cable TV and satellite broadcast subscriptions are decreasing, and even the previously stable growth rate of IPTV subscriptions has now dropped to 0%. It is also predicted that there will be a decrease in IPTV subscribers.
Conversely, there has been a significant rise in the amount of OTT users. Specifically, 97.8% of individuals in their 20s and 97.6% of teenagers are utilizing OTT services.
A recent survey conducted by market research firm Consumer Insight revealed that 37% of domestic paid TV users aged 19 and older are contemplating canceling their subscriptions in favor of OTT services. The primary reason cited was a lack of appealing content on traditional television.
Some experts in the industry are worried that the rise of OTT content may result in a substantial decrease in the domestic broadcasting industry in the next few years.
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