Traditional media to co-exist with digital platforms for many years: Report

The Indian media sector, growing at one of the fastest rates in the world, may continue to remain a "multi-modal market" where traditional media such as TV will co-exist with digital platforms for the next several years, according to a report.

Unlike in developed countries, the growth of media in India is "additive and not cannibalising traditional media" till now, said a report by BCC-CII.

It also said the employment level in the media and entertainment industry, including new-age digital businesses, is expected to double in the next five years.

"For the next several years, we expect India to remain a multi-modal market where all forms of media, including traditional media, like TV, and digital will continue to co-exist," said the report.

 

Media consumption in India has been growing at 9 per cent, one of the highest in the world, for the past six years, it added.

"At 4.6 hours of consumption per capita per day, India is still behind China (6.4 hours) and US (11.8 hours), suggesting further headroom for growth," said the report titled 'One Consumer, Many Interactions'.

According to the report, the media industry in India has been disrupted in recent years as a result of fundamental changes in terms of demographics and accessibility.

"The triggers include growing affluence, higher electrification, a spurt in the number of internet users, video-enabled devices and availability of high-speed internet," it said.

Now, the consumer has access to multiple media across platforms but the key difference lies in the frequency and duration of touchpoints.

The ubiquity of smartphones has allowed people to access media throughout the day, it added.