84% of Indians believe TV ads have an impact on purchase decisions: GroupM Finecast report
CTV advertising too, is set to grow rapidly in India with a 47% CAGR
Dec 08, 2022 10:53:00 AM | Article | Campaign India Team
The GroupM Finecast report on 'The Changing Landscape of Indian Television' was rolled out in partnership with Kantar.
It aims to provide marketers and advertisers with an overview of consumer trends on TV in an endeavour to create effective campaigns by comprehending audience behaviour.
According to the report, CTV (connected TV) adoption has been rapidly evolving in the last two years.
CTV advertising too, is set to grow rapidly in India with a 47% CAGR and its growth is predicted to contribute to the overall TV landscape, including linear. Furthermore, the report cited that 84% of Indians believe TV ads have an impact on purchase decisions.
The focus group for this report was from the age group of 21 to 50 years old, a TV owner (smart or otherwise), and someone who watches TV content for a minimum of five hours a week.
The survey was conducted with 2078 Indians in 16 cities of which 59% were men and 41% were women.
Highlights of the report:
- 78% of linear TV respondents intend to switch to CTV in the next year
- People who prefer CTV appear to have premium lifestyle indicators such as ownership of smart devices and memberships.
- Globally, connected TV advertising share is predicted to reach 22%
- TV advertising will grow by 11.8% CAGR between 2022-2027 in India
- Viewers believe that CTV offers uninterrupted content and fewer ads
- The probability of ads being watched is higher on CTV than on linear TV.
- Four out of five respondents believe TV ads have a major impact on purchase decisions.
- Within the NCCS A&B respondents, it was established that viewers are cord switchers with multiple connections. However, two in three households prefer connected TV as the primary mode to access TV.
- TV advertising is forecasted to grow in the next five years, with India as the third largest market by 2024.
Prasanth Kumar, CEO, GroupM South Asia, said, “The evolution of the TV landscape has been accelerated by technological changes in the distribution space, availability of high-speed internet, and last but not the least, the growth potential of Indian audience to advertisers. Many new capabilities exist for TV advertisers in the coming years. The future of TV in terms of advertising looks bright as the emergence of new technologies like CTV creates even more room for customisations.”
Atique Kazi, president – data, performance and digital products – GroupM India, said, “We are super excited to lead advertisers in this changing TV landscape and to make TV advertising more convenient in the modern marketing era. It’s fascinating to see the speed at which technology is transforming. The evolution of OTT and CTV viewership has enabled more meaningful ways for brands and advertisers to engage at the right time with the right target audience. The report will help marketers as well as advertisers to explore multiple ways to reach out to their audiences.”