The abundance of content in the coming years will lead to lesser engagement, GroupM's TYNY 2020 report has said.
When asked about his views on the subject, Sidharth Parashar, President, Investments and Pricing of GroupM India, said that in order to ensure engagement, brands need to determine their objectives to make the most out of mediums. âI think the trick is not about making the content less, it is about depending upon your objective for your brand. If there are 100 different forms of opportunities available, it is about you using the best because this area is going to keep increasing,â he said.
The report also reveals that traditional media ad spends are going down globally. Asked if he sees a similar trend for India, Parashar said he doesnât see television ad spends going down. âIndia is a very different country from the geography and language standpoint, we donât see it happening in the near future. For example, print readership is actually growing, itâs not going down. If I look at television consumers, itâs not that consumers on television have degrown; they remain there. In fact, they have grown in some cases.â
OTT industry to go through consolidation in coming years
At the launch of the report, Ashwin Padmanabhan, President, Partnerships and Trading of GroupM India, said India's Over The Top (OTT) media industry will soon go through a phase of consolidation. India currently has over 40 OTT players.
Talking to BestMediaInfo.com about the growth of OTT platforms, Padmanabhan said he expects consolidation within OTT players. âConsolidation will also happen with the ones who are not able to monetise,â said Padmanabhan. âIt is bound to happen, there are two or three large media houses that will have a much larger playground, big players can afford it and they can experiment. Eventually, you will see large consolidations happening not to say that everyone will vanish; relevant players will stay,â he said.
Padmanabhan also stressed the need for unified measuring systems across media platforms for a better comparison. âThe vision that the industry has is that there should be a unified measurement system to do justice to different media,â he said.
He spoke about the challenges in advertising on OOH and digital platforms. âThere are quite a few companies that provide and are developing measurement for OOH advertising as well so it is helping advertisers to at least understand rather than blindly investing. No doubt measurement in traditional media is more reliable but I think measurement in digital is from two perspectives. One is, compared to television do we have accurate measurement of digital? The other is, if you look at digital, more and more investment is happening but where you are doing outcome-based marketing?â