707 mn people in India enjoy OTT audio and video services: Reports

Regional OTT content volumes exceeded Hindi language content in 2023 for the first time. (Representative Image: Bastian Riccardi via Unsplash)

The rise of digital entertainment services is also bolstered by the rise of non-traditional devices (smart TV, smart speakers, Firesticks, Chromecasts, Blue-Ray etc) that has witnessed a growth of 58 percent between 2021-23 at all India level.

FM Nirmala Sitharaman: RBI should hold regular meetings with fintech companies

The six action points stressed on the simplification and digitization of KYC (Know Your Customer) processes across all fintech sectors. This also included facilitation of interactions between fintech firms and law enforcement agencies to address concerns or issues. (Image source: Moneycontrol)

The meeting, which was attended by RBI deputy governor T Rabi Sankar, SBI chairman Dinesh Kumar Khara, and officials from the National Payment Corporation of India (NPCI), among others, saw Nirmala Sitharaman release six action points.

GroupM report: 117 percent growth in delivery of paid media to CTV devices from 2022-2023

CTV growth emerges from HSM markets, witnessing 4X growth in impressions from Maharashtra, Haryana, UP, MP, Jharkhand, Uttarakhand, Chhattisgarh & Bihar over last 12 months. Karnataka leads growth in South with 7X growth. (Image source: Unsplash)

Addressable TV homes to surpass 45 million by end of 2024, covering 21 percent of Indian TV Homes; a growth of 32 percent over 2023.

20 percent of all the people watching video content in 2023 have been cord cutters: Kantar

Tamil, Telugu and Malayalam have high conversion ratios, Hindi and Kannada record mid conversion ratios, Gujarati, Marathi and Bengali record low conversion ratios. (Representative Image: Nicolas J Leclercq via Unsplash)

Addressable TV is poised to extend its reach to over 45 million homes, constituting 21 percent of addressable TV households in 2024.

New consumer classification to help advertisers with precise targeting, says BARC chair Shashi Sinha and top marketers

India was operating with a classification system (SEC) built and launched in 1988 but since this was an urban classification system based on the education and occupation of what they called CWE or the chief wage earner, marketers increasingly felt the system was not a strong enough indicator of affluence. Additionally, there was no official rural classification endorsed by MRSI. NCCS was the answer that was launched in 2011. The classification took into consideration education of the CWE multiplied with the assets they owned. (From left to right: Shashi Sinha, Rajiv Dubey, Shuvadip Banerjee and Jasmine Sachdeva)

The Indian Socio-Economic Classification (ISEC) proposed by the Market Research Society of India (MRSI) is under review by BARC. Stakeholder consultations will guide the decision on adopting this new classification system.