India’s TV ad market set to become world third largest | WARC | The Feed
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India’s TV ad market set to become world third largest
Connected TV advertising will make a significant contribution towards India’s television advertising market, becoming the world’s third largest within two years, a new report says.
That’s according to The Changing Landscape of Indian Television from Finecast and Kantar, based on a study across 16 key cities and over 2,000 respondents.
Why it matters
Connected TV adoption has evolved rapidly over the past two years, in part because of the Covid-19 pandemic, and all the signs are that more linear TV users plan to switch to connected TV in the next two years.
The report suggests that the number of addressable TV homes will double to 40 million during that time – and advertising revenues will inevitably follow.
- Connected TV advertising is predicted to grow at a CAGR of 47% to reach $395m by 2027.
- Connected TV is the preferred connection at 65%, comprising smart TVs, devices such as Firestick and internet-enabled set-top boxes versus 35% linear (cable and DTH).
- Two in three households prefer connected TV as the primary mode to access TV.
- People who prefer connected TV appear to have higher household incomes and premium lifestyle indicators such as ownership of smart devices and memberships.
“The future of TV in terms of advertising looks bright as the emergence of new technologies like CTV creates even more room for customisations” – Prasanth Kumar, chief executive officer, GroupM South Asia.
Sourced from Mint, Economic Times
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