The Dominance of Streaming: Overpowering the PayTV Landscape in India

Streaming Surpasses PayTV: Unlocking Unrivaled Advantages in Access, Engagement, and Advertising Opportunities

As the number of OTT users in India surpasses a staggering 480 million, according to an Ormax report, it is evident that streaming has become the preferred choice for content consumption. This shift is driven by the convenience and accessibility offered by streaming platforms, allowing users to watch content anytime, anywhere, and on any device, unlike traditional television with fixed schedules. The widespread availability of high-speed internet and the proliferation of smartphones and 4G feature phones further fuel this trend, creating a new frontier for advertisers.

Adapting to this changing landscape, advertisers are leveraging the interactive nature of streaming platforms to create immersive, engaging, and even shoppable ad experiences. These interactive ads seamlessly integrate into the streaming environment, enhancing the viewing experience and making them more enjoyable and memorable for consumers. Streaming platforms also provide a wealth of data and analytics, enabling advertisers to tailor campaigns, use precise targeting, and ensure maximum impact and return on investment.

According to a Magnite report titled ‘India Embraces the Streaming Era,’ 80% of Indian audiences who stream content prefer ad-supported platforms over subscribing to ad-free services for a monthly fee. This preference underscores the value of streaming for advertisers, offering opportunities to drive brand awareness, engagement, and conversion. The report also reveals that almost half of Indians actively search for products seen in ads, with at least one in three making a purchase based on these ads.

Additionally, the EY-FICCI study found that 59% of Indians streaming content on the big screen spend an average of 8 hours per week, opening up new avenues for CTV advertising. By 2027, advertisers in India are expected to spend $395 million on CTV advertising, indicating a significant growth of 47% CAGR for the ecosystem.

CTV’s premium and engaging advertising environment sets it apart from UGC platforms, making it a preferred choice for advertisers. A Kantar report reveals that 22% of consumers are more likely to recall brands advertised on CTV than on a leading UGC platform.

The decline of over 25% in Pay TV subscribers over the last half-decade, with over 200 million households unreachable by Pay TV, signals a shift towards digital platforms. The loss of 6 million Pay TV households and a 6.2% decline in subscription revenue in 2021, as reported by EY-FICCI, further emphasizes the continuous decline of linear TV.

With the rise of streaming, particularly CTV, advertisers are adapting their strategies to deliver enhanced ad experiences. Creative storytelling and leveraging all possible touchpoints in dynamic digital environments are crucial for driving higher engagement and recall. As technological advancements, consumer preferences, and advertiser interest converge, the first half of 2024 promises to showcase more immersive, power-packed, and impactful ads, pleasing both advertisers and consumers alike.

Why Connection Counts In OTT

The upcoming edition of TATA IPL, the nation’s biggest live sports extravaganza, will define the next phase of this evolution. JioCinema, with an estimated 600-650 million viewers streaming matches for free across devices, presents an unprecedented opportunity for advertisers to unlock cutting-edge ad innovations and connect with their desired audiences among cricket fans. The irresistible appeal of streaming transcends boundaries, capturing attention not only on one side but resonating widely across all platforms!

Disclaimer: Information mentioned here has not been verified or endorsed by Agency Reporter and is in accordance with the press release shared by the company or their appointed representatives.