Cable TV Loses 5 Lakh Jobs as Digital Platforms Take Over
The Indian pay TV sector has witnessed a significant decline in employment opportunities over the past seven years, with over 5 lakh jobs lost. This steep drop in employment is attributed to the sharp decline in subscribers, driven by the rise of over-the-top (OTT) platforms, smart TVs, and free satellite services. The cable industry’s revenue has taken a hit, declining by 16% since 2019. This decline signals a broader digital disruption that the sector must urgently address by upskilling its workforce and adapting to a post-linear media landscape.
The Indian pay TV market, once dominated by traditional cable operators, has been facing intense competition from digital platforms. The growth of OTT platforms such as Netflix, Amazon Prime Video, and Disney+ Hotstar has led to a significant shift in consumer behavior. Viewers are increasingly opting for digital content over traditional cable TV, resulting in a decline in subscribers and revenue for the cable industry.
According to a report by the Broadcasting and Cable Services (BCS) division of the Indian government, the pay TV sector has lost over 5 lakh jobs in the past seven years. The report highlights that the sector has been struggling to adapt to the changing media landscape, with many cable operators failing to evolve and innovate.
The decline in employment opportunities is not limited to cable operators. The decline of the pay TV sector has also had a ripple effect on other industries, including content creation, production, and distribution. The loss of jobs in the cable industry has resulted in a shortage of skilled professionals in the media and entertainment sector.
The impact of the decline of the pay TV sector on employment opportunities is evident in the numbers. According to a report by the Indian Broadcasting Foundation (IBF), the pay TV sector employed over 10 lakh people in 2014. However, by 2021, the number of employees had declined to around 5 lakh. This represents a decline of over 50% in employment opportunities in the sector over a period of seven years.
The decline of the pay TV sector is also having a significant impact on the economy. The sector’s revenue has declined by 16% since 2019, resulting in a loss of millions of dollars in revenue. The decline in revenue has also had a negative impact on the economy, resulting in a decline in government revenue and a loss of jobs in related industries.
The decline of the pay TV sector is not limited to India. The global pay TV market is also facing intense competition from digital platforms. The rise of OTT platforms has led to a decline in subscribers and revenue for traditional pay TV operators. The global pay TV market is expected to decline by 10% over the next five years, according to a report by Deloitte.
The decline of the pay TV sector highlights the urgent need for the industry to adapt to the changing media landscape. Traditional cable operators must innovate and evolve to remain competitive in a digital age. This includes investing in digital platforms, creating original content, and offering personalized services to customers.
The industry must also focus on upskilling its workforce to meet the demands of a digital media landscape. This includes training employees in areas such as digital marketing, content creation, and distribution. The industry must also invest in emerging technologies such as artificial intelligence and data analytics to stay ahead of the competition.
In conclusion, the decline of the pay TV sector in India is a significant concern for the industry and the economy. The loss of 5 lakh jobs over the past seven years highlights the urgent need for the industry to adapt to the changing media landscape. Traditional cable operators must innovate and evolve to remain competitive in a digital age, and the industry must focus on upskilling its workforce to meet the demands of a post-linear media landscape.
Source: https://youtu.be/AMHTmYb_Hz8
