Will cable TV bite the dust with video streaming onslaught?

Chennai: India closely trails China and Brazil in the willingness to pay for content, with Germany and UK behind, said a new report.

Released by Germany-based data research firm Statista and titled Digital Economy Outlook, it said streaming video-on-demand services have beaten TV in customer satisfaction in India and added that Amazon tops the list of digital music services globally.

“The willingness to pay for content is highest in China, Brazil and India (52 per cent), with Germany and UK lagging behind,” the report said.

The video streaming market in India boomed with Reliance Jio coming into play, as with 65 per cent of video consumption comes from rural India that has only 40 per cent Internet connectivity, noted the report.

With changing viewing habits and the onslaught of new digital service providers, cable TV’s might very well be the thing of the past in the coming years, the study finds.

“A new generation of local start-ups are entering the market, threatening established players. Examples are mobility service provider Grab in South East Asia or MakeMyTrip in India,” the Statista report noted.

Asian consumers are mobile-first, while many European consumers still use their desktops the report finds, the reason why ride-hailing platforms are growing fast in India.

“Ride-sharing users in India are very young but still have a medium to high income,” the findings showed.

Giving an example of Ola, the report said Southeast Asian tech-start-ups are getting ready for the global unicorn race.

“The Chinese population is tech savvy and mobile-first, and Chinese eCommerce giants are therefore constantly pushing technology forward. They have diversified into literally every sphere that comes in touch with online retail, from payments to logistics. Current developments in China will – to a large extent – define the next decade’s global ecommerce,” said the report.

NT Bureau