India is the second largest pay-TV market in the world in terms of subscribers. Pay-TV penetration in India has more than doubled from 32% in 2001 to 66% in 2018 (E&Y - India's Media & Entertainment sector Report, March 2019). With thecurrent macro-economic challenges, the year 2020 is set to be the year where the value we deliver to our viewers, advertisers and all stakeholders will play a role in ensuring that the growth momentum is sustained. Here are some trends in the media landscape in the new year:
- Linear TV and OTT will co-exist
While new mediums like OTT have witnessed significant growth in 2019, television has also continued to witness stable growth and the trend is expected to continue. We believe that TV will continue to get new audiences owing to the under-penetration of the medium in the country.
- Growth of Regional Content
India is a nation with multiple languages and in the last 1 year the regional content market has seen tremendous growth. This trend will continue in the coming year as viewers prefer to watch content in the language of their choice. A strong regional franchise will continue to be a recipe for success on the distribution, viewership and advertisement front.
- Storytelling is becoming screen and device agnostic:
Storytelling is becoming screen and device agnostic and I see that trend continuing. Content will be made for consumption across screens and audiences will consume the same basis their device preference. In many cases you will see television and digital combining forces to create a dynamic content ecosystem.
- Big Data and Analytics
Big Data and Analytics will increasingly play a key role in the media landscape. It will aid in understanding consumers and their preferences better, thus leading to enhanced decision making and curation of relevant offerings and experiences by .
- Experimenting with Stories
With the increase in demand for content there will be enough scope for storytellers to experiment and innovate across genres, formats and themes so as to satiate the varied preferences of viewers.
- Personalized technology enhancing viewing experience:
2020 will see further penetration of high-quality smart televisions and the advent of new technologies like AI, AR and ML, enhancing the viewing experience and convenience of consumers.