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 seven years alone. This staggering figure is a direct result of the rapid shift in consumer behavior, driven by the rise of over-the-top (OTT) services, smart TVs, and free satellite services. The sector’s revenue has taken a hit, plummeting by 16% since 2019. This decline signals a broader digital disruption that is transforming the media landscape.
According to a recent report, the number of cable TV subscribers in India has been declining steadily, with a significant drop in the past few years. This decline is not limited to any particular region or demographic, but is a nationwide phenomenon. The report highlights that the decline is not just limited to the number of subscribers but also the revenue generated by the sector.
The decline of cable TV is a result of the increasing popularity of digital platforms. OTT services such as Netflix, Amazon Prime, and Hotstar have become extremely popular in India, offering a wide range of content to subscribers. These services offer a more personalized and on-demand viewing experience, which has led to a significant shift away from traditional cable TV.
Smart TVs have also played a significant role in the decline of cable TV. With the increasing availability of smart TVs, consumers no longer need to rely on traditional cable TV to access their favorite shows and movies. Smart TVs allow users to stream content directly from the internet, eliminating the need for a separate cable connection.
Free satellite services have also contributed to the decline of cable TV. Free satellite services such as DTH (Direct-to-Home) and C-band have become extremely popular in India, offering a wide range of channels to subscribers without the need for a separate cable connection. These services have not only disrupted the traditional cable TV business model but have also led to a significant decline in the number of cable TV subscribers.
The decline of cable TV has significant implications for the sector’s workforce. The sector has lost over 5 lakh jobs in seven years alone, with many more jobs at risk in the coming years. This decline is not limited to any particular role or function, but is a reflection of the broader shift in consumer behavior and the need for the sector to adapt to a post-linear media landscape.
The decline of cable TV also highlights the urgent need for workforce upskilling and reskilling. The sector needs to invest in its workforce, providing training and development programs to help employees adapt to the changing media landscape. This will not only help to retain existing employees but also attract new talent to the sector.
The decline of cable TV also signals a broader digital disruption that is transforming the media landscape. The rise of digital platforms has not only disrupted traditional cable TV but has also transformed the way we consume media. The shift to digital platforms has created new opportunities for content creators and distributors, but it has also presented significant challenges for the sector’s workforce.
In conclusion, the decline of cable TV in India is a reflection of the broader shift in consumer behavior and the need for the sector to adapt to a post-linear media landscape. The sector has lost over 5 lakh jobs in seven years alone, with many more jobs at risk in the coming years. The decline highlights the urgent need for workforce upskilling and reskilling, as well as the need for the sector to invest in its workforce and adapt to the changing media landscape.
News Source: https://youtu.be/AMHTmYb_Hz8
