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Guest Column: Digital will see greater growth, while TV and print will continue to dominate: Joy Chakraborthy, TV18

26-December-2017
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Guest Column: Digital will see greater growth, while TV and print will continue to dominate: Joy Chakraborthy, TV18

A few trends that I can see emerging in 2018 and these will set the ground for further transformation in our business areas in future too:
1. Media trends, per se, will remain the same more or less and would continue. However, digital will see greater growth, while TV and print will continue to dominate. Branded content / non-traditional advertising will see proliferation as a route to being a solution provider to consumer issues. We now have subscription-based internet video brands (Amazon Prime, etc). With our kind of numbers in target segments, it will be interesting to see how the competitive edges will shape this category. TV subscription too should continue its growth path – digitization has brought in a better realisation of subscription revenues plus newer viewers choosing DTH platforms actively and discerningly.
2. Our country has been witnessing a rise in affluence. To add to that, urbanization continues to grow, change in spending behaviours: online vs offline spending patterns – online spending growing and family structures changing and rise in single people in the workforce. We are also seeing a rising influence of women, digital spending, highly reduced personal time – a blurring of personal vs work time vs family time and the rising appeal of Indian goods, also there is in general availability of products at various price points – hence a-brand-for-everyone scenario – this has widened product and service categories. Yes, there are rural vs urban trends but broadly these mega consumer trends will reflect and drive. The evolution of consumer segments in terms of lifestyle, education and awareness brings in newer products and services categories which reflect the usage of advertising. Of course, there could be preference of some platforms over others or media plans composite of all media platforms depending upon brand and product requirements.
3. Rural and semi-urban will be important drivers towards the revival of spending; middle-class spending is critical.
4. There should be policy emphasis on rural electrification, electric cars and infrastructural support. E-commerce should grow with smartphone penetration going up, backed by digital literacy and affordable data costs. Consumer durables should see support from rural and semi-urban markets with infrastructural support from government policies. Government’s initiatives such as ‘Make in India’, ‘Digital India’, financial inclusion, going cashless, uniform taxation via GST, Swachh Bharat, etc. have touched consumers in ways beyond pure societal betterment.
5. Positive impact on FMCG with the growth of modern trade in smaller towns and cities, e-commerce strengthening its offerings with daily of modern trade in smaller towns and cities, e-commerce strengthening its offerings with products, evolving consumer lifestyle and government FDI policy are driving these aspects.

6. Banking, after a slow 2year period and the recent introduction of regulation in the real estate category, housing and personal finance are likely to show recovery from first-time buyers who may be non-investors. As advantages of ‘going cashless’ is sinking in, demand for banking services should rise, with a greater number of people coming into the workforce as well as Government’s financial inclusion plan which is expanding the reach of banking services and insurance to rural & semi-urban segments.
(The author is the CEO – Forbes India & President – Revenue, TV18 Broadcast Ltd) 
Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com.

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