In its 'This Year Next Year’ report, GroupM on Tuesday predicted that addressable TV (CTV) homes will grow by 21% to reach 45 million TV homes which is 21% of the total TV homes in India.
The report said that 34 million addressable TV homes were streaming on connected TV by the end of 2023.
In 2024, the company believes this growth is expected to be reaching 45 million homes with a YoY growth of 21%.
GroupM estimated that the size of adex on digital extensions of TV will be Rs 5,750 crore in 2024.
Besides growth in broadband connections at home and all new TVs sold being smart, this growth is predicted to be on the back of content. The report also stated that major sporting events have accelerated eyeballs on addressable TV.
“In the last year, markets like Uttar Pradesh, Bihar, Madhya Pradesh, Uttarakhand, and Haryana impressions on CTV have grown by at least 4.5 times,” it said.
Over 200 Fast Channels with a variety of content streaming on OTTs and OEM applications are observed by the report.
“The shift in content on Fast channels is also one of the reasons for people to cut the chords,” it said.
In 2023, the company predicted that there would be pilots of linear TV becoming addressable. This is being carried on and as per the report, in 2024, some collaboration with distributors, broadcasters and delivery ecosystem will see used cases.