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Here’s how Network18 plans to navigate its foray within the CTV space
Pranav Bakshi, head- digital video strategy and partnerships, Network18, details the ad and content strategy for the network’s recently launched CTV channels.
In the realm of content consumption, connected television has emerged as a formidable strength to be reckoned with in recent times. Acknowledging the potential of this medium, several Indian media conglomerates have recently entered the CTV space.
On August 17, Network18 announced its plans to introduce four of its news channels- News18 India, CNN-News18, CNBC TV18 and CNBC Awaaz- on Samsung TV Plus, the company’s free ad-supported streaming TV service.
Further, the media conglomerate has plans to launch its regional news channels on CTV in the near future.
Highlighting the motivations behind the foray into the comparitively new format, Pranav Bakshi, head- digital video strategy and partnerships, Network18, tells afaqs!, “News is primarily a live consumption content genre. Hence, it is important for us to be available for viewers on all platforms like cable and satellite, mobile and CTV. With the evolution of CTV and exponential growth in smart TV sales, we see the transition as an opportunity to reach and grow audiences in multi-genres, and multi-languages.”
The group anticipates the CTV move to give an extended reach and a diverse range of content types. Through the integration of CTV, the company envisions a surge in the variety of news content available to its audience.
Bakshi further asserts that CTV has introduced a new dimension to audience engagement, particularly among those who have transitioned to increased streaming content consumption. This shift is further fueled by the improvements in internet bandwidth availability.
As a result, the company has observed a rise in viewership, with over 50% of its audience engaging with news content through the various platforms it is offered on. “We expect CTV consumption to only add more viewers & age groups,” he adds.
Recently, CTV’s inclusion in households across the country has seen a significant rise. In 2022, the number of households that owned connected TV sets amounted to 25 million, a figure which is estimated to almost double by 2025. Correspondingly, viewership of CTV escalated by over 30% between 2021 and 2022, according to data from Statista.
Amid this scenario, a question emerges: How have brand advertisers taken note of this dramatic rise? Addressing this, Bakshi says, “Connected TV advertising is evolving. With more brand acceptance, we expect it to complement TV and digital advertising. In some genres, it will add to the premium targeted audiences. For mass genres or in languages, we expect it to add substantial revenue opportunities with new formats, ad types and second screen experiences.”
However, he also adds that CTV advertising is still in its nascent stages. He categorises ads within this model under two prevalent models. The first model aligns with the digital video framework, while the second model operates under the TV Fixed Clock Time (FCT), a top-up approach.
Right now, we need to adapt to these models, create more opportunities, and ad formats to drive the revenue upswing. Eventually, we expect a unified sales model to emerge across all platforms which will be a combination of C&S, mobile apps & CTV.Pranav Bakshi, head- digital video strategy and partnerships, Network18
Thus, subsequently, the brand foresees the emergence of a cohesive sales model spanning all platforms, encompassing cable and satellite, mobile apps, and CTV.
In terms of content strategy, Network18’s CTV involves leveraging its content portfolio beyond its TV offerings. The company intends to expand the reach of its brands like Moneycontrol and Firstpost to CTV.
“Beyond that, we will be focused on putting content out for viewers from our portfolio of channels and work closely with our partners to pioneer some of the innovations in the space, for now,” Bakshi points out.
