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1、March 2023Harnessing digital to drive M&E growthSeeing the BIG Picture Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities.BCG was the pioneer in business strategy when it was founded in 1963.Today,w

2、e work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders empowering organizations to grow,build sustainable competitive advantage,and drive positive societal impact.Our diverse,global teams bring deep industry and functional expertise and a range of per

3、spectives that question the status quo and spark change.BCG delivers solutions through leading-edge management consulting,technology and design,and corporate and digital ventures.We work in a uniquely collaborative model across the firm and throughout all levels of the client organization,fueled by

4、the goal of helping our clients thrive and enabling them to make the world a better place.Meta builds technologies that help people connect,find communities,and grow businesses.When Facebook launched in 2004,it changed the way people connect.Apps like Messenger,Instagram and WhatsApp further empower

5、ed billions around the world.Now,Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.Shaveen GargTHE ORIGINS OF THE STUDYMedia&Entertainment(M&E)players around the world have embraced digital-forward p

6、ractices to become future-ready.They recognize the power of digital to influence every stage of the consumers media consumption journey,from discovery to interest to engagement.Yet Indian players have been hesitant to embrace digital.BCG and Meta have come together to present a view on how digital c

7、an drive growth for M&E organizations in India.We connected with 30+industry leaders from LTV,OTT and Movie Studios to get the complete industry perspective.We complemented this with a quantitative survey of 2,600 consumers and in-depth discussions with 50+viewers,for a holistic customer perspective

8、.We are grateful to these industry leaders and consumers for their invaluable contributions.THE TRAILERHigh consumer involvement post content discoveryDigital plays a critical role across the content consumption journeyThink full funnel5060%of consumers actively research and engage with contentOf th

9、ese,50%+are digitally influenced Deploy digital as a complementary mediumSignificant consumer involvement on digital channels beyond LTV/OTT networkIdeate,create and share digital-forward content50%off-network activity happens on digital3 digital touchpoints between content discovery and consumption

10、Ramp up digital engagementWord of Mouth(WoM)increases appointment viewing and reduces churnDesign and execute targeted campaigns to nudge WoMUp to 40%higher watch times for digitallyengaged audiences40%+viewers discover content on digital via WoMIdentify pockets of innovationUrgent need to re-think

11、and formulate business,content and marketing strategies to accelerate growthNurture Test and learn culture with agile teamingRe-allocate marketing spends basis incremental returnsTailor digital activations basis digital maturityBuild capabilities to match global peersBest-in-class companies build an

12、 ecosystem to design and execute digital activationsTechnology and dataContent factoryMeasurement toolkitOrganizationalFlywheel for user engagementUnlock significant value with digitalStrategic digital activations expand the viewer base and drive top-line growth2.53xhigher active user base1.52x high

13、er time spent3040%sales uplift for LTV and Movie Studios3540%marketing spends efficiency for OTTSHOOTING SCHEDULE0102LIGHTSUnderstanding the power of digital and evolving consumer behaviorCAMERAAttracting and engaging the viewerPa g e 08Pa ge 240304ACTIONBuilding a digital-ready organization Pa g e

14、44Pa ge 54BEHIND THE SCENES Key research data points and glossary of terms8 8LIGHTSUnderstanding the power of digital and evolving consumer behavior019 9CAGR 1922CAGR 1922SEEING THE BIG PICTURE:HARNESSING DIGITAL TO DRIVE M&E GROWTH1011%17%51%India is an entertainment-hungry nation and growth in dig

15、ital is driving new content consumption1.TV:ages 18+who use at least once per month;includes live,DVR,and other prerecorded video(such as video downloaded from the internet but saved locally);includes all time spent watching TV,regardless of multitasking.If all population with age 18+is considered,a

16、verage hours per day is 3.28 hours as of 2022;2.Digital:ages 18+who use at least once per month;includes all time spent with online video activities,regardless of multitasking;includes viewing via desktop/laptop computers,mobile(smartphones and tablets)and other connected devices(game consoles,conne

17、cted TVs or OTT devices);3.Includes gaming,print and radio 4.EstimatedSource:Media consumption in India 2022 from E-marketer;Industry Reports;BCG AnalysisGrowth in digital consumption outpacing all other segmentsPayTV households in India continue a growing trend while the US and China are static or

18、decliningNumber of hours of consumption/day/viewer20192022E42.83.02.12.23.83.98.79.110.611.24.34.53.03.33.33.4Digital video2Television1Others3and the number of OTT SVoD subscribers is growing 34x faster than in US and ChinaIndiaIndiaUSUSChinaChina2%0%-7%+5%+12%CAGR 2225600Mn online video viewers in

19、India(50%up vs.2019)50%+of all time spent on OTT by 2025 will be on vernacular contentOriginal content on OTT to reach 4,000 hours by 2024(2x vs.2019)Faster growth in post-pandemic period3%34%17%1120162019142022E218-202025F3LTVDigital Video(OTT,SFV)Movie Studios20%3%77%1319%8%73%13%20%67%15%33%52%LI

20、GHTS:UNDERSTANDING THE POWER OF DIGITAL&EVOLVING CONSUMER BEHAVIOR11Video verticals are catering to this appetite and expected to grow at 12%+CAGR for next 3 yearsIn USD BnVideo-based media and entertainment market size in IndiaThis report is focused on the LTV,OTT and Movie Studios sectors1.Short f

21、orm video apps 2.Estimated 3.ForecastedSource:India Media Market Size,2022 from Magna Global;Tuning Into Consumer,March 2022 by EY&FICCI;Press Articles;BCG AnalysisPre-pandemicPost-pandemic6%CAGR13%CAGRSEEING THE BIG PICTURE:HARNESSING DIGITAL TO DRIVE M&E GROWTH121.Users using internet for more tha

22、n 4 years 2.Estimated 3.ForecastedSource:BCG analysisDigitally active users are growing and expected to be 85%of internet users2030F20202022E22025F3Internet users aged 18+894515624Digitally active users1224Share of digitally aged populations among internet users43%59%73%85%In MnIn MnIn MnIn Mn757366

23、743545Digital67%Relative size of M&E Industry33%46%54%42%58%10%90%28%72%LIGHTS:UNDERSTANDING THE POWER OF DIGITAL&EVOLVING CONSUMER BEHAVIOR131.For 2021 2.Average of 11 countries other than IndiaSource:Media Market&Advertising Overview,2021 from Magna Global;Industry Expert Interviews;BCG AnalysisHo

24、wever,Indian media companies are under-indexed on marketing spends and digital capabilitiesIndian M&E industry spends lower than international peersEven domestically,digital spends lower than other B2C industriesUrgent need to invest in internal digital capabilitiesMarketing spends as%of industry re

25、venue1Share of digital in marketing spends1In USD MnOfflineAverage2 3.7%UKFranceAustraliaUnited StatesJapanCanadaBrazilIndiaChinaItalySouth KoreaGermanyAverage 57%100602080400012345101,650Retail680BFSI370Telecom1,400FMCG600M&EIndustry speakMajority of our efforts are on own network,digital is seen a

26、s a secondary driver of reachDigital is growing but our LTV network still has majority of the eyeballsLack of clarity on the impact of digital activations puts a lot of resistance in executing theseDISCOVERYSEEING THE BIG PICTURE:HARNESSING DIGITAL TO DRIVE M&E GROWTH14GenderIncomeLanguageDigital ma

27、turityMaleLarge townSmalltownFemaleLess than 35 yearsLess than INR 10 lacs1More than 35 yearsMore than INR 10 lacsHindi57%Regional41%English2%High:Typical app usage:SVoD OTT,app-based cab booking,internet/mobile bankingLow to moderate:Typical app usage:social media,search,e-com shoppers,AVoD OTT,mob

28、ile wallets We looked at consumers across demographicsConsumer lens1.Per annum 2.Large towns metros and tier-1 cities and small town tier 2 and 3 citiesSource:BCG Consumer Content Consumption Survey,October 2022,N=2,61553%53%47%47%57%45%43%55%56%44%Getting to know about a new/existing piece of conte

29、nt on that respective channel/studio/OTT platformAge groupsCity tier2Business objectivesDrive awareness among customers who are Not aware about the platform Not aware about the content Dormant/churnedConsumer voiceTop 10 trending are a great way to discover good content pieces I came across a meme f

30、rom a recent release and decided to watch its trailerINTERESTENGAGEMENTLIGHTS:UNDERSTANDING THE POWER OF DIGITAL&EVOLVING CONSUMER BEHAVIOR15.to understand their content consumption journey and the key drivers Gathering information actively to make a conscious decision to watch/not watch a piece of

31、content Actively following the content episode after episode,season after season(incl.catchup)Sharing of related info(view,feedback,recommendation)while consuming the content Involved with the content beyond watching it(fandom,discussions on characters/plot etc.)Maximizing subscriptions Generating i

32、nterest about the contentEngaging with audiences by various marketing initiatives Maximizing time spent Maximizing frequency of visits Reducing churn rateSocial listening to gauge reaction to contentWe have a group where we review and discuss new shows and moviesI search for information about the co

33、ntent online and check out reviews by influencersWhenever I am watching something,I usually take a picture of my laptop screen and post it onlineI follow official handles of my favorite celebs;at times they have shared my posts on their handles as wellI usually watch sports highlights on my phone wh

34、en I am having a mealSEEING THE BIG PICTURE:HARNESSING DIGITAL TO DRIVE M&E GROWTH16CORE OBJECTIVE OF THE STUDY WAS TO UNDERSTANDHow media companies can catalyze growth through digital.LIGHTS:UNDERSTANDING THE POWER OF DIGITAL&EVOLVING CONSUMER BEHAVIOR17SEEING THE BIG PICTURE:HARNESSING DIGITAL TO

35、DRIVE M&E GROWTH18Activations to be designed keeping in mindHigh overlap in content consumption across verticals blurring boundaries in consumers mindSimilar digital influence for Hindi and Regional content content viewers;however,important nuances in the choice of channels and activities within the

36、mSignificant digital influence observed even for cohorts generally considered to be digitally passive(over 35 years,women,small-town residents)LIGHTS:UNDERSTANDING THE POWER OF DIGITAL&EVOLVING CONSUMER BEHAVIOR19Consumers seamlessly transition across LTV and OTT43%respondents consume content across

37、 verticalsContent consumption is vertical agnostic for 40%+respondentsShare of respondentsrather,consumers choice of platform to watch content depends on external factorsSource:BCG qualitative research,October 2022,N=50;BCG Consumer Content Consumption Survey,October 2022,N=2,61538%11%38%3%1%1%8%LTV

38、OTTMovie StudiosPriyanka,Patiala,34 yearsJugal,Mumbai,25 yearsI love watching a particular serial on TV because I like the way the lead acts and dressesI never skip the episodes and have been watching it since the last 23 yearsSometimes,when I miss an episode on TV,I watch it online the next dayI am

39、 a sports lover and sports means Cricket and Kabaddi for meI usually watch them on TV.But,if my family wants to watch something else,I switch to OTT apps on my phone or laptopWhenever I am in office,I watch live cricket matches on streaming platforms on my laptopSEEING THE BIG PICTURE:HARNESSING DIG

40、ITAL TO DRIVE M&E GROWTH20AgeGenderAnnual incomeCity-tier35 years35 years+MaleFemaleINR 10 lacsINR 10 lacs+Large townsSmall townsPRE WATCHING1LTV40%28%26%34%33%35%31%39%OTT7871%70%66%76%76%74%81%Movie Studios62%54%45%55%63%56%55%68%POST WATCHING2LTV68%60%67%65%64%64%64%65%OTT72%70%78%77%72%71%72%72%

41、Movie Studios69%70%68%74%69%69%70%69%Contrary to industry belief,even cohorts like over35 years,women and small-town residents have significant digital influence1.Includes digital influence in the“pre-watching”stage of media content journey(i.e.,discovery and interest)2.Includes digital influence in

42、 the“post-watching”stage of media content journey(i.e.,engagement)Source:BCG Consumer Content Consumption Survey,October 2022,N=2,61525%25-50%75%50-75%Digital efforts should be planned to target audiences across demographics%respondents digitally influenced at each journey stageDigital influence and

43、 interaction is age,gender,income&city-tier agnosticSimilar levels of digital influence in Hindi and RegionalLIGHTS:UNDERSTANDING THE POWER OF DIGITAL&EVOLVING CONSUMER BEHAVIOR2140%69%64%70%78%70%25%73%46%58%72%73%Hindi contentRegionalcontentImportant for media houses to have customized approach fo

44、r marketing Regional contentDigital influence similar for Hindi and Regional,but driven by different channels and activities1.Sample size of 1,493 for Hindi and 1,082 for Regional content Source:BCG Consumer Content Consumption Survey,October 2022,N=2,615LTVMovie StudiosLTVMovie Studios%respondents

45、digitally influenced at each journey stage1OTTRegional influencers build better connect and,therefore,have high credibilityPain points for Regional are mainly driven by limited availability of industry-generated content like BTSOTTRegionalcontentToprankedSource for digital discoveryIn-appShort-and l

46、ong-form videos across platformsResearch topicInformation on release dates/launchInformation on storylineSource of research activityInfluencersOfficial page/accountEngagement activityFollowing interviews/official accounts of related celebsDiscussion on websites/forumsHindi contentHowever,the most in

47、fluential digital channels for both differ considerablyLanguage25%25-50%75%50-75%SEEING THE BIG PICTURE:HARNESSING DIGITAL TO DRIVE M&E GROWTH22M&E companies must actively and consciously understand evolving consumer behavior and design strategies covering E2E consumer journey to accelerate growthLI

48、GHTS:UNDERSTANDING THE POWER OF DIGITAL&EVOLVING CONSUMER BEHAVIOR23DISCOVERYINTERESTENGAGEMENT24CAMERAAttracting and engaging the viewer0225OverallOTTMovie StudiosLTV34%69%49%21%ENGAGEMENTINTERESTDISCOVERYOTT and Movie Studios:Digital is important,and driving online discovery is a key imperative26S

49、EEING THE BIG PICTURE:HARNESSING DIGITAL TO DRIVE M&E GROWTHIN D UST RY MYTH1.Compared to low digital maturity audienceSource:Industry Expert Interviews;BCG Consumer Content Consumption Survey,October 2022,N=2,6153x higher influence for digitally mature audience1Digital discovery is on the upswing,e

50、ven in LTV.%respondents discovering content digitallyInfluence of digital significantly higher for OTT and Movie StudiosCO N SUM E R RE AL ITYLTV:Content discovery primarily driven through promotions on own channels,limited or no digital activations requiredLTV audiences only discuss content among t