Team News Riveting
The on-going Indian Premier League (IPL) would boost the television platform’s recovery amid the rapid growth of digital media and expected to generate revenues of around Rs 23,600 crore.
Despite the enhancing share of digital media, especially during the pandemic, television advertisement is set for a recovery by the end of 2020 and clock revenues of Rs 34,100 crore.
According to a study by financial services firm Edelweiss, the return of original programming on general entertainment channels (GECs) and the Indian Premier League (IPL) would boost the platform’s recovery amid the rapid growth of digital media. It is expected to generate revenues of around Rs 23,600 crore , the study said.
The digital advertising had in fact taken a toll on TV, but the electronic media still has relevance among the viewers, the study said. In addition, for the past three years, the daily average time spent on TV viewing has remained constant at a daily average of 220-225 minutes and a 62-65 percent TV penetration in India implies that there is enough headroom for long-term subscriber growth.
The study said as digital gains ground, TV is projected to lose some share of the advertising, 37.3 per cent by 2022 against 40.2 per cent in 2019.
TV still remains a medium for mass marketing and large categories, such as fast-moving consumer goods (FMCG), will continue to rely on it for rural growth. More than 50 per cent of TV ads come from FMCG enterprises though new players like edtech, e-commerce and e-wallets have increased its share in the pandemic.
