The industry of television has experienced a seismic shift with a focus on content consumption. The introduction of the internet has spearheaded an age where spectators have transferred from traditional linear programming to a more personalized and on-demand experience. This alteration has been powered by the enhanced competence and proficiencies of internet-based devices, which have redesigned the techniques via which people connect with content.
Connected TV (CTV) has developed as a paramount space for viewers, recommending numerous apps and streaming platforms that satisfy varied inclinations. Unlike traditional television, where audiences had to follow timetabled TV shows, CTV permits greater flexibility, allowing families to assemble and relish content of their preference on bigger displays at their convenience. This suitability element has performed a considerable part in increasing CTV viewership, as additional individuals choose custom-made content and on-demand streaming alternatives.
One of the important factors that aids in the rise of CTV is its appeal to a wide range of demographics. Newer age groups have inclined towards streaming services over traditional cable TV, attracted by the freedom to retrieve content anytime, everywhere. At the same time, elderly individuals have embraced the accessibility of internet-connected devices for retrieving their much-loved programs (shows) and news, further adding to the admiration of CTV.
As a result of these shifting viewing habits, we have witnessed the proliferation of video-on-demand (VOD) and fast channels in the CTV space. These channels cater to the growing demand for instant gratification, allowing viewers to access content quickly and seamlessly. In India, for instance, India TV has introduced three 24/7 fast channels alongside its linear channel, recognizing the audience's preference for real-time updates and breaking news.
However, the evolution of CTV goes beyond this. It has also become a platform for delivering personalized and informative content tailored to individual preferences. News broadcasters have seized this opportunity to innovate and adapt their offerings to better meet the needs of their audience.
In reply to the modifying media landscape, India TV has embraced a line of track that emphasizes distributing content that resounds with watchers. This comprises the launch (establishment) of dedicated channels, for example, India TV Speed News, which delivers rapid updates 24*7, and Aap ki Adalat, which recommends to spectators their beloved shows (on demand). Furthermore, India TV Yoga provides fitness and lifestyle tips, indicating the rising prominence of wellness and self-care.
The growth of CTV has modernized the technique via which we utilize content, posing a more customized, appropriate, and pleasing screening experience. As news broadcasters, we should persist in familiarizing and developing our services to meet the revolutionizing prerequisites and inclinations of our viewers. By leveraging the competencies of CTV, we can generate more audience-friendly channels that accommodate their interests and deliver them with the news bulletin they long for.
The global Connected TV Market was valued at USD 13,233.7 million in 2022 and is projected to reach USD 32,517.2 million by 2030, growing at a CAGR of 12.18 s% from 2023 to 2030. In India, the number of households that owned connected TV sets amounted to 32 million as of 2023, and this trend is projected to continue until 2025. These statistics underscore the immense potential and growth of the CTV landscape, presenting both opportunities and challenges for news broadcasters to navigate.
The dynamic nature of modern audiences across Connected TV presents a myriad of opportunities for content creators and advertisers to engage with viewers in innovative ways. As the digital landscape continues to evolve, understanding and adapting to these dynamic patterns will be key to success in capturing and retaining audience attention in the ever-changing world of media consumption.
This article is penned by Ritu Dhawan, Managing Director, India TV.
Disclaimer: The article features the opinion of the author and does not necessarily reflect the stance of the publication.