The Indian Broadcasting and Digital Foundation (IBDF) has reportedly formed a task force to analyse the recently proposed Indian Socio-economic Classification System (ISEC).
IBDF’s members comprise both news and non-news channels (GEC, sports, music, movies, infotainment and others).
Simultaneously Broadcast Audience Research Council (BARC) is also evaluating the new classification system introduced by Market Research Society of India (MRSI).
Broadcasters are reportedly concerned about the potential impact of ISEC on their audience measurement and targeting strategies.
As per reports, the IBDF task force is expected to comprise of five to six members who represent various broadcasting genres. It aims to understand the implications of ISEC for the industry and ensure a smooth transition if implemented.
Just last week, MRSI announced the adoption and implementation of its latest ISEC system. The current socio-economic classification (SEC) being followed in India is based on ownership of consumer durables and vehicles.
The growth in GDP and income, penetration of consumer durables, and ownership of vehicles has witnessed a significant increase, leading to the current socio-economic classification becoming less discriminatory and more volatile.
“The need to redefine the key variables led to the formation of a more stable, and more robust construct, ‘ISEC.’ Among the various industry stakeholders on track to adopt ISEC are The Indian Society of Advertisers (ISA), research users of various organisations such as ITC, Hindustan Unilever Limited, Marico, Dabur India, etc., research agencies including Kantar, IPSOS, as well as key media agencies,” said an MRSI statement.