Cable TV Loses 5 Lakh Jobs as Digital Platforms Take Over
The Indian pay TV sector has been experiencing a significant decline in recent years, with over 5 lakh jobs lost in the last seven years alone. This staggering figure is a direct result of the sharp drop in subscribers, driven by the rise of OTT (over-the-top) platforms, smart TVs, and free satellite services.
According to a recent report, the revenue of the pay TV sector has seen a decline of 16% since 2019. This is a telling sign of the broader digital disruption that is transforming the media landscape. The decline of cable TV highlights the urgent need for workforce upskilling and adapting to a post-linear media landscape.
The pay TV sector, which was once the dominant player in the Indian television market, has been struggling to keep up with the changing consumer preferences. With the advent of OTT platforms such as Netflix, Amazon Prime, and Disney+, consumers have more options than ever before to access their favorite content. This has led to a significant decline in the number of subscribers for traditional cable TV services.
The impact of this decline is not limited to the pay TV sector alone. The broader media and entertainment industry is also feeling the heat. With the rise of digital platforms, traditional media companies are struggling to adapt to the new landscape. This has led to a significant decline in the number of jobs available in the sector.
The job losses in the pay TV sector are not limited to technical and operational roles. Even management and administrative roles are being impacted. This is because the traditional hierarchical structure of the pay TV sector is being dismantled, and new skills and expertise are being required to navigate the digital landscape.
The decline of cable TV also has significant implications for the advertising industry. With the rise of digital platforms, advertisers are shifting their focus away from traditional TV advertising and towards online platforms. This has led to a decline in the demand for TV advertising, which is further exacerbating the decline of the pay TV sector.
Despite the challenges facing the pay TV sector, there are still opportunities for growth and innovation. The rise of digital platforms has created new opportunities for content creators and producers to reach new audiences and monetize their content. This has led to a surge in the production of original content, with many Indian producers and creators finding success on international platforms.
The decline of cable TV also presents an opportunity for the government to rethink its regulatory policies. With the rise of digital platforms, the traditional regulatory framework is no longer sufficient to govern the media landscape. The government needs to revisit its policies and regulations to ensure that the media and entertainment industry is able to adapt to the new landscape.
In conclusion, the decline of cable TV is a sign of the broader digital disruption that is transforming the media landscape. The pay TV sector has lost over 5 lakh jobs in the last seven years, and the revenue has seen a decline of 16% since 2019. This highlights the urgent need for workforce upskilling and adapting to a post-linear media landscape. Despite the challenges, there are still opportunities for growth and innovation, and the government needs to rethink its regulatory policies to ensure that the media and entertainment industry is able to adapt to the new landscape.
Source: https://youtu.be/AMHTmYb_Hz8
