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 over 5 lakh jobs lost in the past seven years alone. This drastic decline is attributed to the sharp drop in subscribers, driven by the rise of over-the-top (OTT) platforms, smart TVs, and free satellite services. The sector’s revenue has taken a hit, with a whopping 16% decline since 2019. This decline not only highlights the challenges faced by the sector but also underscores the urgent need for workforce upskilling and adapting to the post-linear media landscape.
According to a recent report, the pay TV subscriber base in India has been declining steadily since 2014. This decline has been particularly pronounced in the past two years, with a sharp drop of over 10% in the last year alone. The report notes that the decline is not limited to any particular region or demographic, but is a sector-wide phenomenon.
The rise of OTT platforms has been a significant factor in this decline. With the introduction of affordable and high-quality streaming services, viewers have been flocking to these platforms, abandoning traditional cable TV subscriptions. OTT platforms such as Netflix, Amazon Prime, and Hotstar have become increasingly popular, offering a wide range of content, including movies, TV shows, and original content.
Another factor contributing to the decline of cable TV is the rise of smart TVs. With the increasing adoption of smart TVs, viewers are no longer tied to traditional cable connections. They can now access a wide range of content online, including streaming services and social media platforms.
Free satellite services have also been a major factor in the decline of cable TV. With the introduction of free satellite services, viewers are no longer willing to pay for cable TV subscriptions. These services offer a range of channels, including sports, news, and entertainment, at no additional cost.
The decline of cable TV has had a significant impact on the sector’s revenue. The sector’s revenue has been declining steadily since 2019, with a 16% decline in the past two years alone. This decline has been particularly pronounced in the past year, with a sharp drop of over 10% in the last year alone.
The impact of the decline on the sector’s workforce has been significant. Over 5 lakh jobs have been lost in the past seven years alone, with many more expected to be lost in the coming years. The sector’s workforce has been struggling to adapt to the changing landscape, with many workers facing unemployment or underemployment.
To mitigate the impact of the decline, the sector needs to focus on upskilling its workforce. Workers need to be equipped with the skills necessary to adapt to the post-linear media landscape. This includes skills such as content creation, digital marketing, and social media management.
The sector also needs to focus on diversifying its revenue streams. This includes exploring new revenue streams such as advertising, e-commerce, and data analytics. The sector needs to be agile and adaptable, willing to experiment with new business models and technologies.
In conclusion, the decline of cable TV in India is a significant challenge for the sector. The rise of OTT platforms, smart TVs, and free satellite services has led to a sharp decline in subscribers, resulting in a loss of over 5 lakh jobs. The sector needs to focus on upskilling its workforce and diversifying its revenue streams to mitigate the impact of the decline. The future of the sector depends on its ability to adapt to the changing landscape and stay relevant in the post-linear media landscape.
Source: https://youtu.be/AMHTmYb_Hz8
