Cable TV Loses 5 Lakh Jobs as Digital Platforms Take Over
The Indian pay TV sector has been facing a significant crisis in recent years, with a sharp decline in subscribers and a corresponding loss of jobs. According to a recent report, the sector has lost over 5 lakh jobs in the past seven years, with the number of employees dwindling from 7.5 lakh to 2.5 lakh. This decline is largely attributed to the rise of digital platforms, such as over-the-top (OTT) services, smart TVs, and free satellite services.
The decline of the pay TV sector is a significant concern for the Indian economy, as it not only affects the jobs of thousands of employees but also has a ripple effect on the entire media and entertainment industry. The sector’s fall is a stark reminder of the urgent need for workforce upskilling and adapting to a post-linear media landscape.
Decline of Pay TV Subscribers
The decline of pay TV subscribers in India began around 2014, when OTT services such as Netflix and Hotstar started gaining popularity. Initially, the decline was slow, but it accelerated rapidly in the following years. According to a report by the Indian Broadcasting Foundation, the number of pay TV subscribers in India dropped from 65 million in 2014 to 45 million in 2020.
The decline of pay TV subscribers has been attributed to various factors, including the rise of affordable and high-quality OTT services, the increasing popularity of smart TVs and streaming devices, and the shift towards free satellite services. Many viewers have opted for free satellite services, such as Doordarshan and Free Dish, which offer a range of channels without the need for a subscription.
Job Losses and Revenue Decline
The decline of pay TV subscribers has had a significant impact on the sector’s employment and revenue. According to a report by the Indian Broadcasting Foundation, the pay TV sector has lost over 5 lakh jobs in the past seven years. The sector’s revenue has also declined significantly, with a 16% drop since 2019.
The job losses in the pay TV sector are not limited to the employees of the television networks themselves but also affect the thousands of people who work in related industries, such as content creation, advertising, and distribution.
Impact on the Media and Entertainment Industry
The decline of the pay TV sector is having a significant impact on the media and entertainment industry as a whole. The sector’s fall is affecting the entire value chain, from content creation to distribution and advertising.
The decline of pay TV subscribers has led to a decline in advertising revenue, which is a significant source of income for television networks. The sector’s advertising revenue has declined by 15% in the past year, making it challenging for television networks to maintain their operations.
The decline of the pay TV sector is also affecting the content creation industry, with many production houses struggling to find new revenue streams. The sector’s decline is forcing production houses to adapt to a new reality, where content is created for digital platforms rather than traditional television.
Upskilling and Adaptation
The decline of the pay TV sector highlights the urgent need for workforce upskilling and adaptation to a post-linear media landscape. The sector’s employees need to acquire new skills to adapt to the changing media landscape, where content is created for digital platforms and consumed on-demand.
The Indian government and industry stakeholders need to work together to provide training and upskilling programs for the sector’s employees. The programs should focus on developing skills in areas such as digital content creation, video editing, and social media marketing.
The sector’s employees also need to be adaptable and open to new opportunities. Many employees in the pay TV sector may need to transition to new roles or industries, such as digital marketing or content creation.
Conclusion
The decline of the pay TV sector in India is a significant concern for the Indian economy and the media and entertainment industry. The sector’s fall is a stark reminder of the urgent need for workforce upskilling and adapting to a post-linear media landscape.
The sector’s employees need to be upskilled and adaptable to the changing media landscape, and industry stakeholders need to provide training and support programs. The Indian government also needs to play a role in promoting the growth of the digital media industry and providing support to the sector’s employees.
Source: [1] https://youtu.be/AMHTmYb_Hz8
