Growing Demand for Sources of Entertainment, and a Fight for Supremacy over multiple vehicles will define The Future of Media Consumption.
The youth and the mature group – both form an integral part of your target audience. And in the recent past, due to changes in the trend of media consumption, both groups have evolved in preferences and expectations. What changes – in media consumption trends – have you observed in the recent past?
Well, for starters, the overall consumption of media has definitely gone up, especially in the last 18 months. The Internet has certainly helped in fuelling demand for international music amongst the youth. While on one end, the youth is getting back to international music per se, the more mature audience is willing to experiment with classic international music. What’s best – earlier, their preferences were only restricted to music. But in recent times, they have gradually shown an inclination to long format programming, and shows like ‘America’s Got Talent’.
So, you do confess that there have been notable changes in trends. Which are the most important ones that have shaped media consumption patterns?
Every few years, a new pattern emerges. During the mid-90s, there were just 12-15 channels and MTV was a rage. Slowly, Indi-pop became popular, and then came the flurry of daily soaps. All it takes is someone to think smart, unite a larger mass and thus set a trend. What Colors’ launch has done is also a paradigm shift in programming, which is coupled with pro-social messaging. And it is still cutting through the clutter. Similarly, in the reality entertainment space, we have moved from the more serious KBC to accepting a glamorous Khatron Ke Khiladi. There was a time when VJs were a big phenomena. Not any more. So, it has all got to do with the way the country is evolving. The television industry in India is very young right now. It is barely a decade-and-a-half old. You can expect newer trends to come by as the years pass.
So, where do the most interesting opportunities lie over the next 2-3 years, as far as media vehicles are concerned?
See, content is king. It will remain the king. The question is – how accessible can you make it? For instance, all the promises related to 3G will take shape only if you deliver on them. There are no LCD TVs in cars as yet; basically, it’s just about platforms. It’s a question of penetration. Mobile will have a larger penetration in the times to come, but at the moment, it is mostly at the entry level. Today, you have 565 channels on DTH, and it is important to understand what can keep the consumer glued to a particular medium. While mobile has the accessibility factor – which is why you see youngsters accessing social media through the mobile phone – you would notice that the TV sets are also on at the same time. And that’s where the fight begins.
The youth and the mature group – both form an integral part of your target audience. And in the recent past, due to changes in the trend of media consumption, both groups have evolved in preferences and expectations. What changes – in media consumption trends – have you observed in the recent past?
Well, for starters, the overall consumption of media has definitely gone up, especially in the last 18 months. The Internet has certainly helped in fuelling demand for international music amongst the youth. While on one end, the youth is getting back to international music per se, the more mature audience is willing to experiment with classic international music. What’s best – earlier, their preferences were only restricted to music. But in recent times, they have gradually shown an inclination to long format programming, and shows like ‘America’s Got Talent’.
So, you do confess that there have been notable changes in trends. Which are the most important ones that have shaped media consumption patterns?
Every few years, a new pattern emerges. During the mid-90s, there were just 12-15 channels and MTV was a rage. Slowly, Indi-pop became popular, and then came the flurry of daily soaps. All it takes is someone to think smart, unite a larger mass and thus set a trend. What Colors’ launch has done is also a paradigm shift in programming, which is coupled with pro-social messaging. And it is still cutting through the clutter. Similarly, in the reality entertainment space, we have moved from the more serious KBC to accepting a glamorous Khatron Ke Khiladi. There was a time when VJs were a big phenomena. Not any more. So, it has all got to do with the way the country is evolving. The television industry in India is very young right now. It is barely a decade-and-a-half old. You can expect newer trends to come by as the years pass.
So, where do the most interesting opportunities lie over the next 2-3 years, as far as media vehicles are concerned?
See, content is king. It will remain the king. The question is – how accessible can you make it? For instance, all the promises related to 3G will take shape only if you deliver on them. There are no LCD TVs in cars as yet; basically, it’s just about platforms. It’s a question of penetration. Mobile will have a larger penetration in the times to come, but at the moment, it is mostly at the entry level. Today, you have 565 channels on DTH, and it is important to understand what can keep the consumer glued to a particular medium. While mobile has the accessibility factor – which is why you see youngsters accessing social media through the mobile phone – you would notice that the TV sets are also on at the same time. And that’s where the fight begins.
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Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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