Has digital media really overtaken its traditional counterpart? Or is the traditional media still very much in the game? Well, to find out how both the digital media and traditional media channels are performing in the market, one needs to take several factors into account such as the amount of time being spent in using them, their reach or market penetration and the cost.
Continue reading to find out whether digital media has surpassed traditional media or are people still holding on to the traditional forms of media such as newspapers, radio, television etc.
Facts about Digital &Traditional Media
According to a research report released by EY India, Digital Media will surpass the traditional media by 2021-22. This would happen when the penetration of smartphone becomes 50% of the country’s population, which will likely happen by 2020. In fact, even the broadband penetration in India will be equivalent to 1/3rd of the mobile penetration by 2021-22 in India.
Another estimate suggests that Indians spend around 2 and a half hours each day in using different forms of traditional media such as radio, newspapers, magazines and television in comparison to one hour (on an average), spent on using the digital media. What’s interesting to note here is that the cost of cable in India is around Rs250 as opposed to broadband that costs anywhere around Rs500-1000. Also, the Indian digital market is expected to surpass Rs 20,000 crore in another three years. It must be noted that presently the digital market is worth Rs 8490 crore.
Traditional Media Explained
Traditional media, also known as the old media, has been extensively used by the advertising/marketing companies for years now. In fact, when it comes to placing their advertisements, companies still rely on newspapers, television, magazine and radio to get their messages across to the masses.
Digital media, which also encompasses the new media, makes content available through different types of digital channels such as smartphones, internet computers, tablets etc. More and more consumers today are relying on the internet to search for information, which makes digital media ideal for businesses of all scales and sizes.
What’s the Truth behind the Decline of Traditional Media?
Well, if one was to go by what statistics have to suggest, one thing is quite evident, print media is witnessing a decline. But, the truth is that instead of being considered as low- acceptance, it must be understood that people are actually adapting to the digital media to acquire news & information. Thus, the total number of individuals who are consuming media hasn’t gone done or decreased. Instead people have simply shifted their source of gathering information.
Even business and channel partners across varied sectors such as IT, Retail, Healthcare and others consider that traditional media is ideal for reaching out to their target customers. As a result, they continue to rely on print (such as newspapers, magazines, hoardings etc.) for branding & advertising purpose.
So what is Really Happening?
Well, the fact is that today marketers are relying on both digital and traditional media and believe in their co-existence. The behaviour of the user in both the forms of media is completely different from one another, since they are needed in varied ways. However, the main experience is just the same.
According to the experts, there will not be much difference between traditional and digital media in the days to come. In fact, all the forms of media will be conglomerated under one common term i.e. Media. Thus, any form of competition between the traditional and digital media will cease to exist.
Traditional Media is capable of reaching out to a broad set of target audience. This means that if the business is looking to target a number of people, then traditional media is ideal for them. However, if the goal is to target a niche or specific market segment, then digital media is the right way forward.