India is the Fastest Growth Market for Connected TV

India is poised to be the third-largest TV advertising market by 2024. According to the FICCI-EY report, there would be 40 million addressable TV homes in India by 2025. Connected TV ownership in India has skyrocketed.

In India, digital video has skyrocketed exponentially in the new stay-at-home paradigm. Streaming services such as Netflix, Prime, and Disney went from niche to mainstream. Video entrenched deeply on social platforms such as YouTube, Facebook, Instagram, and Tiktok. According to the eMarketer, in many countries, digital video has overtaken broadcast TV. 

With supply proximity, faster broadband and affordable TV hardware, mobile-first Indian consumers are rapidly adopting connected TVs. Market leader Xiaomi leads with 14.3% and Samsung, the global leader, is placed second in India at 13.1%, followed by LG with 8%, OnePlus with 7% and Sony at 5%.

Southeast Asia is charging ahead at full steam, having added 60M new digital consumers to the internet economy since the pandemic started. The top 20 online video platforms will account for two-thirds of total APAC online video revenues in 2022. 

The streaming industry is projected to reach $5 billion by 2023, and it's predicted that India will become one of the top five global CTV markets worth an estimated value of $823 million by EOY 2022.

While CTV viewing has increased by 81% globally, adoption in India is still in its infancy, but did grow by an impressive 31% in 2021. India is still largely an untapped market with enormous opportunities. By 2025 there will be 80 million connected TV households.

With supply proximity, faster broadband and affordable TV hardware, mobile-first Indian consumers are rapidly shifting towards connected TV.

Singapore Attitudes to Connected TV During COVID-19

Connected TV consumption is on the rise in Singapore, with new research showing that 43% of Singapore consumers are spending more time watching CTV content since the start of the pandemic. 

As the pandemic has rapidly accelerated the growth of CTV, it’s more important than ever before that brands understand and embrace the medium. Almost 43% of Singapore consumers have tried a streaming service.

Key findings include: 

• 87% of the Singapore population now have access to CTV content through various devices, with 42% now owning three or more devices; 

• 77% of Singaporeans say they would prefer to watch their favourite TV programmes for free with ads rather than pay for an ad-free experience; 

• 77% of Singapore consumers plan to reduce the amount they pay for TV services — 34% plan to switch to free-ad-supported services, 33% plan to reduce the number of paid for streaming services they use, and 29% plan to cancel their cable TV; 

• More relevant targeting and greater personalisation mean CTV ads performs better than the TV average in Singapore across key indicators. Compared to the average TV viewer in Singapore, after seeing an ad on TV, ad-supported CTV users in Singapore are: 

• • 13% more likely to tell a friend about a brand;  
  • 14% more likely to buy a product;  
  • 6% more likely to visit a store or website;  
  • 7% more likely to search for a brand; 
  • 9% more likely to have an improved opinion of the brand.

COVID-19 Drives Connected TV Advertising Demand

Work from Home

Since the onset of COVID-19, increased digitalisation has been an undeniable trend. The time spent on TV viewing has almost tripled. What’s more, linear TV viewers are clearly shifting to CTV.

High CTV access and usage is not unique to the current health crisis. Trends have been headed upward for some time. As of March 2020, Nielsen data showed that 76% of U.S. homes had at least one connected device. But because access doesn’t always equate to usage.

The increase in viewing in the living room speaks to the growth of co-viewing as consumers choose to watch content together—especially during a global pandemic, which has likely provoked consumers to lean into their families and loved ones during the health crisis.

While co-viewing levels have come down from their peaks during the week of March 23, they remain higher than before the COVID-19 pandemic for most demographics.

The changes in consumer behavior are leading to a shift in advertisers’ and publishers’ behavior as well. Publishers and ad tech companies offer brands the ability to switch creatives quickly and provide data-driven insights into how different messaging is resonating with consumers. As a result, advertisers shift to CTV ads and pour more ad budgets into the ecosystem.

Connected TV Marketing Association Foundation

Leaders of the CTV advertising, media and entertainment sector converged in New York, London and Melbourne for the inauguration of the Connected TV Marketing Association (CTVMA), the global industry trade body of the advertising, media and entertainment sector.

Television advertising will join the 21st century, as Internet connected televisions, from brands such as Samsung, Sony and LG, are predicted to make up to 90% of the global TV market by 2014, with sales, reaching 123 million.

Connected TVs offer brands the chance to connect their offline spend with the rapidly growing online content market, with TV applications or targeted ad campaigns served by ad networks across electronic program guides. With 85% of marketers interested in advertising on internet-connected TVs, the CTVMA had been set up to inform and educate the advertising, media and entertainment sector on the commercial opportunities of Connected TV platforms. For immediate release:

James Grant Hay, Founder and President Asia-Pacific of the Connected TV Marketing Association:

"The CTVMA is being launched today to address these issues currently being faced, by not only advertisers, broadcasters and rights holders alike but, by the TV set makers themselves. As TV platforms are likely to compete with broadcasters to buy programme content from rights holders and serve advertising against it."

Doug Scott, Honorary U.S. Chair of the CTVMA, President of Ogilvy Entertainment (WPP):

"Ogilvy is committed to the development of advertising and original brand funded programming on Connected TV platforms to enable a direct dialog between consumers and brands."

Zachary Weiner, Co-Founder and President North America of the Connected TV Marketing Association:

"Connected TV platforms supersede broadcasters in owning programme content and selling advertising against it. Marketers are also frustrated by the lack of audience information on who they are targeting and ad networks face issues of interoperability, scale and standards across platforms".

As part of its future plans, the CTVMA has immediately embarked on an open industry consultation process, inviting leaders from the advertising, media and entertainment sector to participate in formulating an industry terms of reference. The CTVMA comprises 47 Country, Regional and Chapter Presidents, Vice-Presidents with CE representatives around the world.

An Australian board will be announced at the CTVMA’s first industry event in Sydney on March 7, 2012. For more information visit the website. Official launch photos. Follow @ctvma