Finecast, GroupM’s addressable TV company successfully hosted “Addressable TV and Beyond” – the first inaugural summit on Addressable TV in India on December 7, 2022. The event elaborated on how the TV industry is witnessing a transformation as India is set to become the 3rd largest TV market in next five years. Within that time, CTV advertising is set to grow rapidly in India with a 47% CAGR and its growth will contribute to the overall TV landscape including linear.
GroupM’s Finecast, in partnership with Kantar, launched ‘The Changing Landscape of Indian Television’ report at the summit which majorly highlighted the rapidly changing media consumption habits and how Finecast can make it easy for broadcasters and the brands to accurately predict the future of TV viewing in India. The report showcased the TV viewing trends & insights about how Indian consumers are engaging and consuming TV content. The probability of ads being watched is higher on CTV than on linear TV.
The TV advertising market is set to grow in the next five years, with India expected to become the third largest market by 2024. Currently, there are 20-22 million addressable TV homes in India, with more than 10 pc of TV homes being addressable. Connected TV (CTV) is the preferred connection at 65 pc, comprising of Smart TVs and devices such as Firestick and Internet-enabled set-top boxes, while 35 pc prefer linear TV (Cable + DTH).
CTV adoption has been rapidly evolving in the last two years and the future looks promising, with more linear TV users planning to adopt CTV in the next year. Among NCCS A&B respondents, the platform found that viewers are cord-switchers with multiple connections, but two out of three households prefer CTV as their primary mode of accessing TV.
Among respondents, those who prefer CTV appear to have higher household incomes and premium lifestyle indicators such as ownership of smart devices and memberships.
The daylong event showcased multiple sessions that discussed the changing landscape of TV in India and had some ground-breaking research to leap forward in measurement to what’s next in the Finecast roadmap – Leading the charge in addressable TV. The sessions explored the current and new capabilities that exist for TV advertisers in India along with a sneak peek into how a prominent advertiser uses media to drive attributable business growth.
Prasanth Kumar, CEO – GroupM South Asia, said “The evolution of the TV landscape has been accelerated by technological changes in the distribution space, availability of high-speed internet, and last but not the least, the growth potential of Indian audience to advertisers. Many new capabilities exist for TV advertisers in the coming years. The future of TV in terms of advertising looks bright as the emergence of new technologies like CTV creates even more room for customizations.”
Atique Kazi, President – Data, Performance & Digital Products – GroupM India said, “We are super excited to lead advertisers in this changing TV landscape and to make TV advertising more convenient in the modern marketing era. It’s fascinating to see the speed at which technology is transforming. The evolution of OTT and CTV viewership has enabled more meaningful ways for brands and the advertisers to engage at the right time with the right target audience. The report will help marketers as well as advertisers to explore multiple ways to reach out to their audiences.”
View the report here.
