Adapting to the Direct to Consumer World
Media evolves to a direct-to-consumer world, nowhere is the competition fiercer than in television. Entertainment & Media sector is a huge industry in subscriptions and advertising globally. Accordingly the video distributors such as cable, satellite and telecommunications companies must weigh three strategic options as they react to consumer desire for fewer channels, more personalization and choice and lower monthly bills:
1) Create more segmented, affordable and smaller video bundles to maintain pay TV subscription rates
2) Launch OTT (over the top) services to target cord nervers
3) Integrate 'à la carte' OTT (over the top) or packages of OTT services with broadband access.
As the technology is rapidly growing, transitioning to a more direct to consumer world will not be easy for many media companies. Consider the unimaginable fast clock speed in entertainment and media today. Entertainment and media companies cannot afford any delay. Today the way media is approaching the human brains is obviously an addiction and the increase in technology related to media and entertainment is growing faster. In the coming years definitely this world of entertainment and media will be an industry of unimaginable technology.
Talking about M&E sector in India is its diversity, each region constituting its own market, with its own preferences for content, based on distinct cultures and different languages, so specific local content is a must. As regards to television, which reaches around 60 percent of all households in the country, there are more regional channels than national ones. Niche markets are also appearing. New, highly specialized channels have appeared, some focusing for example on science, others on tourism. This trend is also true of the print segment, where specialty magazines focusing on luxury, or aimed at a younger audience, have sprung up. In addition, the wide range of information on offer in India has an increasingly globalised feel. In sport, for instance, matches and events taking place abroad are now watched by a large audience, even when the sport in question is not widely played in the country. The best example is perhaps the English Premier (soccer) League, where the audience has grown by 18 percent in one year. This trend has led European soccer clubs to increase their presence in India through licensing and partnerships, with some clubs introducing their own coffee chains and theme shops. The media industry has captured the companies for publicity and the companies are getting benefited from the media industry, the media is reaching door to door at affordable rates and people are getting benefited i.e. through Facebook, Youtube, entertainment & news channels , mobile applications.
India is seeing strong growth in the Media and Entertainment (M&E) sector. However, this is a typical market, given its huge size and highly specific features at both national and regional level. The unimaginable technology is growing at a rapid pace and definitely its market will be rising higher and higher.