Niimesh N Mukherjee , Cluster Programming Head , My FM Radio
Every segment of the industry, including print, TV, radio and film experiential marketing, and OTT is being impacted by digitization and is showing growth consolidation and innovation.
The estimates are that by the year 2022 India will have 500 million 4G customers; that is a big audience with smartphones and that audience needs premium content of all kinds. There is an entire business between telecom and OTT platform and what they need is an engaged customer. It is a new genre and new format which is getting built and is growing gradually. Everyone is experimenting and producing good content for OTT. It is a new genre and people are getting used to it. The only advantage this time around is that the creative community has seen Netflix, Amazon, and everything else.
This is the mass market of niches. Different people like different content. The beauty of whole digital business is that one can cater to the mass market. Entertainment sector need to develop a kind of content library and built so much depth and variety to its consumers. In the previous years, we have seen that a lot of new technologies have been implemented, further leading to an enhanced consumption of digitalized content across the country. And, the most amazing part of this digital consumption that is increasing is that there is no limit to people’s thirst for newer and unique ideas, which we can see is changing with the changing trends. Let us keep our fingers crossed while we witness them embracing the new changes and trends that are yet to unveil in the year 2018
This kind of content consumption is gaining further importance in the digital world and the audience category is more of youth. The advantage is that there is no 30-minute video, but 20-minute video where all the crap has been gulped in by the new form of content consumption drive. This has been derived from researches which proved that the highly preferred content on YouTube is a short-form content that lasts around 20 minutes. The advancement and reach of smart cities across rural areas as well as low data plans, low cost smartphones, etc., will bring about this increase in the percentage of consumers. Though, the majority of users prefer regional languages and Hindi, this will also soon change with time and expand to such an extent, where we can find people preferring languages across the globe
Today, around 60 percent of the population is earning and we expect this to grow by another 40 percent over time. There have been an increase in the number of mobile wallets and similar services that are prominent these days, as they provide enhanced transaction opportunities without any exception.
The earning population is increasing and the options for online transactions are increasing as well, which makes it imperative that the digital consumption rise
One of the most enhanced and advanced digital industry in India is the gaming industry. There is an increase in the number of smartphones, tablets and other internet-connectivity devices, which have made mobile the most important medium for people to reach out to their favorite part of the system – gaming. This gaming industry has already taken over around 60 percent of the Indian marketing industry in the digital domain.