At the unveiling of thePitch Madison Advertising Media Report 2024(PMAR), Avinash Pandey, Chief Executive Officer, ABP Network, delved into how the tech majors are exercising unbridled control on the digital front.
“Currently, the digital platforms are overshadowing traditional channels, giving power to big tech giants. They decide what you will watch,” shared Pandey, adding, “Data shows that digital consumption and penetration is on the rise but they show media consumption through traditional media has declined, which is unlikely.”
Noting that digital media generates around Rs 41,000 crore, of which news generation companies just get 4%, Pandey called for changes, which he says are also in the minds of cabinet members. He reveals that since these big tech giants hold control over both the supply and demand side, the power should be reclaimed from the big tech firms and there must be an advocacy through regulatory mechanisms.
“Is the creativity suffering because of the extra emphasis on data, programmatic advertising, and performance marketing, wherein 2 seconds of viewing is called an ad?” Pandey pointed out that creativity is bound to take a hit when you have to showcase something in a mere 2 to 6 seconds.
Putting forward the findings from the PMAR 24, Pandey says that Television is here to stay and its impact remains unparalleled while highlighting that it’s difficult to find an avenue like Television, where in 3 dollars, one gets rewarded with 300 channels in a single month.
“In this world of GAMA (Google, Amazon, Meta and Apple), TV still has a better control over the mind, says the ABP Network head,” adding, “The future storyteller will be increasingly platform agnostic, therefore, if one platform loses its prominence, there will be another one out there.”
Further adding clarity, he observes that while the internet’s reach is around 511 million in India, Television reaches close to 843 million here. Pandey concurs that digital presence is no longer a luxury but a necessity for most brands. However, he propounded that when it comes to established brands. Digital works as a supplementary tool rather than a game-changer, he said.
To substantiate his unwavering belief in Television, Pandey goes on to share that industry titans like Colgate, Hindustan Unilever and Godrej remain committed and hooked to Television for advertising and awareness. Additionally, he reveals, “When it comes to brand building, certain brands still rely solely on Television advertising for brand building.”
Television continues its growth and still remains the strongest medium of the traditional wing. Pandey notes that COVID has had a tremendous impact on the news industry, making many organisations move from traditional platforms to Digital. “You may say that news viewership is digressing or moving to YouTube and Meta, but we all know that the content is being consumed in the form of videos.”
There was a symbiotic relationship between clients, agencies and publishers, but the advent of digital media has disrupted this, he said. “The power of distribution has gone out of the hands of the media owners, resulting in a decline in advertising and even creativity,” Pandey noted.
