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 past seven years. This alarming trend is attributed to a sharp drop in subscribers, driven by the rise of over-the-top (OTT) services, smart TVs, and free satellite services. The sector’s decline is not only a concern for the industry but also signals broader digital disruption that is transforming the media landscape.
According to a report by the Indian Broadcasting Foundation (IBF), the pay TV sector has lost over 5 lakh jobs since 2014. This represents a staggering 25% decline in the workforce over the past seven years. The sector’s revenue has also taken a hit, with a 16% decline since 2019. The decline in revenue is largely due to the shift in consumer behavior towards digital platforms.
The rise of OTT services such as Netflix, Amazon Prime Video, and Hotstar has been a significant factor in the decline of cable TV. These platforms offer a wider range of content, including exclusive shows and movies, at a lower cost than traditional cable TV. Additionally, OTT services can be accessed on multiple devices, including smartphones, tablets, and smart TVs, making them more convenient for consumers.
Another factor contributing to the decline of cable TV is the proliferation of smart TVs. Smart TVs come with built-in internet connectivity, allowing consumers to access a range of streaming services and apps without the need for a separate set-top box. This has further reduced the need for traditional cable TV.
Free satellite services have also played a role in the decline of cable TV. Many consumers are opting for free satellite services such as Doordarshan and DD Free Dish, which offer a range of channels at no cost. This has led to a decline in the number of subscribers for pay TV services.
The decline of the pay TV sector has significant implications for the workforce. Many employees have lost their jobs or are at risk of job loss as the sector continues to decline. The loss of jobs is not only a personal tragedy for those affected but also has broader economic implications.
The decline of the pay TV sector also highlights the urgent need for workforce upskilling and adapting to a post-linear media landscape. As the media landscape continues to evolve, it is essential for workers in the sector to develop new skills and adapt to new technologies and business models.
To adapt to the changing landscape, the pay TV sector needs to invest in upskilling its workforce. This can be achieved through training programs that equip employees with skills in areas such as digital marketing, content creation, and analytics. The sector also needs to focus on developing new business models that can compete with digital platforms.
One potential business model is subscription-based streaming services. These services offer consumers a range of content, including exclusive shows and movies, for a monthly fee. This model is popular in many parts of the world and has the potential to succeed in India.
Another potential business model is targeted advertising. Pay TV services can offer targeted advertising to consumers, allowing advertisers to reach specific audiences. This can be a lucrative business model for pay TV services, especially if they can offer high-quality content and targeted advertising.
The decline of the pay TV sector is a wake-up call for the industry. It is essential for the sector to adapt to the changing media landscape and invest in upskilling its workforce. By doing so, the sector can not only survive but also thrive in the digital age.
News Source: https://youtu.be/AMHTmYb_Hz8
