Connected television penetration in India is expected to grow at an astonishing pace from 20-22 million units in the next two years to nearly 10% of TV households by 2025, with maximum growth being seen in urban India, GroupM’s Proprietary marketing firm Wavemaker India said in its report Spotlight23.
Connected TVs come with in-built features for streaming content from Amazon Fire TV, Apple TV or smart TVs. “An increase in cord-cutters led its growth and a 38% increase in shipments in Q3 2022 is also contributing to the growth in smart TV sales. Firms offering faster and cheaper broadband in India also grew Sights, such as JioFiber, aid growth,” said Vishal Jacob, chief transformation and digital officer at Wavemaker.
There can be many segments in the luxury space such as automobiles, banking, financial services and insurance, as well as mutual funds that want to target the affluent behind paywall customers.
Currently, connected TV viewers are inclined towards premium lifestyle content including romance, action, comedy and live sports. “It is critical that CTV reach difficult, media-enriched audiences, and brands need to build creatives for the ecosystem with far more personalized and interactive content as opposed to linear TV,” he added.
CTV brands across categories are increasingly adopting and are also looking at strategies to woo the consumer segment as this would require a mature advertising ecosystem. This is a segment that advertisers want to engage with because they are behind paywalls. Most people are buying smart TVs. With increasing internet connectivity, personalized content will increase. Once customers are hooked to it, it will be difficult to go back to analog TV,” said Jacobs.
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