Connected TV advertising in India to grow at 47% CAGR to reach $395 million by 2027

Growing at 47% CAGR, connected TV advertising will reach $395 million by 2027 in India from $57 million in 2022, according to GroupM Finecast and Kantar report titled ‘The Changing Landscape of Indian Television’.

The report further stated that the CTV advertising spends will become worth $86 million in 2023 in India.

From a 12% share of total TV in 2022, connected TV advertising share is estimated to reach 22% share in 2027 globally.

India is poised to be the third-largest TV advertising market by 2024.

TV advertising will grow by 11.8% CAGR between 2022-2027 in India versus global and APAC growth of 1.1% and 3.7%, respectively.

GroupM estimated that currently there are 20-22 million addressable TV homes in India. This means, more than 10% of TV homes are today addressable.

According to the FICCI-EY report, there would be 40 million addressable TV homes in India by 2025.

To prepare the report, Kantar and GroupM conducted a survey with 2078 people in 16 cities, of which, 59% were men and 41% were women.

84% of TV respondents believe TV ads have a major impact on purchase decisions. 63% of connected TV users think the ads shown to them are more personalised on TV. The majority of users of CTV are aware of personalised ads and QR codes.

The report stated that 78% of linear TV respondents intend to switch to CTV in the next year.

Within the NCCS A&B respondents, GroupM and Kantar established that viewers are cord switchers with multiple connections. However, 2 in 3 households prefer connected TV as the primary mode to access TV.

People who prefer CTV appear to have higher household incomes and premium lifestyle indicators such as ownership of smart devices and memberships. They also have more premium lifestyle preferences, are likely to go out frequently and be brand conscious.

9 in 10 respondents across both linear and CTV users preferred TV as a device for watching sports. There are no major differences in the type of content preference for CTV/LTV respondents.

There is a perception for linear TV users that CTV offers uninterrupted content and fewer ads. The probability of ads being watched is higher on CTV than on linear TV.

4 out of 5 respondents believe TV ads have a major impact on purchase decisions.

The criteria for the recruitment of people for the survey were:

* Owns a TV (Smart/Otherwise)

* Watches any type of content on TV for a minimum of 5 hours a week

* NCCS A – 79%, B – 21%

* 21-50 years old

* Mix of >Joint & Nuclear families

Info@BestMediaInfo.com