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<FONT COLOR="#FF0033"><B>FICCI Frames 2007:</B></FONT>India soon to be third largest Internet market in the world
Is media convergence finally here? If yes, what does that spell for the traditional way in which media has so far been consumed in India? According to experts, the death knell. A look at why new media is buzzing all of a sudden
Maybe it’s time for advertisers and ad agencies to take a good look at new media and its growing impact on consumers. The way things are going, India is perhaps headed for a media revolution of sorts. At FICCI Frames 2007, industry experts discussed and debated the power of new media vis-à-vis traditional media, and whether media convergence is around the corner.
It is increasingly becoming obvious that consumers (especially the younger lot) are attracted to new media (Internet and mobiles in particular) like moths to a flame. “But what’s perhaps surprising is the behavioural shift that advertisers and buyers are going through,” said Richard Anderson of IBM Global Digital Media Industry, USA. He cited a survey that found that 78 per cent of advertisers or buyers of media space feel that television is less effective with reference to delivery than it was two years ago. Further, when faced with the hypothetical situation of extra buying monies, only 19 per cent said they would wager it on television, with a majority favouring the Internet and mobile arenas.
Championing the cause of new media was Neeraj Roy, CEO, Hungama Mobile, who went on to reveal that there are about 165 million mobile phone users in India (GSM and CDMA), and that this figure is projected to rise to 500 million by 2010. Things look good in the Internet space, too. At present, India has the fourth largest Internet user base in the world, after the US, China and Japan, in that order. From the way things are moving, India is all set to take the number three spot, surpassing Japan, by the end of 2007.
“IPTV, too, isn’t just some distant dream on the horizon any more; it’s a reality that is actually happening now as I speak,” Roy said. He added that the idiot box will soon become the intelligent box, as IPTV will bring an all-new level of interactivity to viewers. For instance, when Sanjay Leela Bhansali appears as a guest for the second time on ‘Koffee with Karan’, viewers can refer back to his earlier interview within seconds, instead of waiting for anchor Karan Johar to dip into the past. “The concept of video on demand and various forms of interactivity are all set to take the Indian viewer by storm through IPTV,” Roy prophesied. This is particularly so as Bollywood and movies are an important entertainment source in the country.
Mobile phones aren’t too far behind as potential media vehicles. At present, there are more than 1.5 million mobile downloads a day, including music (a majority), followed by imagery, videos (2,50,000 downloads) and games. The retail revolution, especially organised retail and the presence of kiosks, has spurred the growth of new media through sampling and trial opportunities.
Today, India has different delivery platforms and devices, but they all demand interactive and exciting content. “So, if you ask me, convergence isn’t around the corner, convergence is here,” Roy concluded.
© 2007 agencyfaqs!