The ‘halo effect’ caused by the popularity of the previous work is disappearing. Securing competitive content is more important than ever.
According to Nielsen Korea on the 8th, the first episode of JTBC’s new Saturday drama ‘The Agency‘, which aired on the afternoon of the 7th, recorded an audience rating of 4.8% (hereinafter based on paid households) nationwide. It showed viewer ratings of 5.5% in the metropolitan area and 7.5% at the moment. Considering that the previous drama ‘Reborn Rich’ ended with high viewership ratings of 26.9% nationwide, 30.1% in the metropolitan area, and a peak of 32.9% at the moment, it is judged that the halo effect was not properly enjoyed.
‘The youngest tycoon’ plays the relief pitcher for JTBC, which was in a slump. Although the ending received mixed emotions, it was warmly received by viewers thanks to the good acting of the main actors such as Song Joong-ki and Lee Sung-min.
As a result, interest in the follow-up drama – ‘Agency’ also increased. ‘Agency’ depicts an orphan (Lee Bo-young) who became the first female CEO in a VC team, building her career beyond the first and reaching the top. Public concern is centered on whether Lee Bo-young, who took over the baton from Song Joong-ki, will continue to lead the rising trend of JTBC dramas.
However, “Agency” premiered to a somewhat disappointing rating of less than 5%. This is lower than the viewership ratings (6.1%) of the first episode of “Reborn Rich”. Of course, as the broadcast has only just begun, it is still too early to determine the success or failure of “Agency”. It remains to be seen if “Agency“ can manage to capture viewers without the halo effect of the previous drama.
Due to platform diversification, the importance of the content business is growing. Viewers’ preference for a specific channel is decreasing, and the boundaries between terrestrial, general, and cable are also becoming blurred as OTT (streaming service) is activated.
In the case of the ENA channel, which was relatively unknown, its stock price rose last year thanks to the syndrome-like popularity of “Extraordinary Attorney Woo”.
“Extraordinary Attorney Woo”, which follows a lawyer with autism spectrum disorder, achieved success with its highest rating of 17.5% in its final episode. Thanks to this, ENA’s channel competitiveness increased and their advertising revenue also rose, but it did not lead to a steady stream of regular viewers. Subsequent dramas of “Extraordinary Attorney Woo”, such as “Good Job” and “Love Is for Suckers”, failed to record the same high ratings and level of buzz.
Viewers who are more familiar with OTT and choose content according to their taste, are removing the “halo effect” by judging and selecting what to watch more strictly. The fact that “The Glory,” “D.P.” and “Squid Game” released through Netflix, a OTT platform and not an established broadcaster, have all earned great success is for a reason. With viewers around the world paying attention to K-dramas, it is time to demand more competitive content for the expansion and continuity of the Hallyu wave.