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At the unveiling of Pitch Madison Advertising Report, Vishal Chinchankar, CEO, Madison Digital & Madison Media Ultra, spoke about how connected TV was a powerful addition to the marketers toolbox

I strongly believe Connected TV is here to stay, said Vishal Chinchankar, CEO, Madison Digital & Madison Media Ultra, during the unveiling of the Pitch Madison Advertising Report 2022 in Mumbai on Wednesday.

In 2014, e-commerce was at 54 million (users) and in 2020 it has generated roughly around 329 million. Now Television is about 892 million today while Mobile video has gone to 467 million. Connected TV is expected to grow by 120 million by 2025. So the fact here is that Connected TV is definitely something which is here to stay.

Explaining how the US looks at Connected TV advertising, he shared, India is not too far from what happens in the US, so we are somewhere very close. Two-thirds of the US population are monthly connected TV users while four out of 10 US senior citizens are Connected TV users. Hulu made the maximum amount of ad revenues from Connected TV in 2021, followed by YouTube in the US and a staggering number of 14.44 billion ad revenues made through Connected TV. 14.44 billion is more than Indias overall AdEx. So thats the kind of advertising revenue the US makes out of Connected TV.

Elaborating on the factors behind the growth, he said, While weve established the fact that we are close to touching 120 million Connected TV user by 2025, if you see the story of Connected TV in the last 5 years, it has grown 9X. Now, this is the time of affluent audiences, which is getting built. Whats really fuelling the growth for Connected TV? Cost effective data plans - we had a broadband crisis and in 2014, per gb cost was Rs 250 in India, which was down to Rs 18 in 2018 and as we speak today, its almost 6 and a half rupee per gb cost. Low smart TV prices - Indias smart TV shipment grew by 65%YOY in Q2 of 2021, thats a very large number and definitely a big thing thats happening in the back. Chinese manufacturers want to introduce smart TVs which are less than 15000 rupees. A leading brand is shipping roughly around 10000 smart TVs a week. The Indian market is flooded with affordable low price smart TV models.

Accessible internet content at affordable prices - Content is another important factor, recently we saw Netflix reducing their price. You get Jio Fibre for about 1000 rupees a month. These affordable models are the easiest way to access Connected TV and come with a pre-loaded set of apps to access the content. And the last factor of growth for Connected TVs in India is availability of devices to stream content - the Chromecasts and the Firesticks are now as affordable as Rs 2,500 to Rs 3,000. This is also one of the factors of growth for Connected TVs, he added further.

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Connected TV likely to have 120 million additional users by 2025: Vishal Chinchankar - Exchange4Media