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Elevation Capital today announced the launch of its report “What If…We Win? Unlocking The India Consumer Tech Opportunity.” The report addresses multiple whitespaces for large, scalable tech-enabled consumer businesses that founders can build in India. The country’s online consumer spending is expected to reach $300 Bn by 2030, creating massive value-creation opportunities for founders building new consumer marketplaces, businesses catering to India’s wealthy, new-age D2C brands tapping discretionary categories, and social & content platforms that leverage newer monetization strategies. 

In a joint statement, Mukul Arora, Co-managing Partner and Mayank Khanduja, Partner, who leads Elevation’s Consumer Tech investments, said, “Of late, India’s startup ecosystem has started questioning the viability of delivering new high-quality businesses in the consumer tech space. With all our conviction, we say yes, these businesses can be built. This is not just because we have partnered with multiple category winners in the past consumer tech waves but because all markers today strengthen our conviction. Our consumer tech portfolio and 100+ consumer tech founders we meet every month show that the market is only getting deeper. With more disposable income in the hands of the consumer, large share of the new revenue and profit pools would accrue to the consumer tech companies.” 

The report presents five data and research-backed theses covering large value-creation opportunities for founders to build large, enduring companies. 

Indian Media Platforms Will Monetize Users Directly At Scale: 

While horizontal social platforms command more than 50% of the $8Bn Indian digital ads market, emerging marketplaces and e-commerce platforms such as Amazon India, Swiggy, Nykaa, and Meesho have also entered the ads business, cornering nearly 15% of this pie..

Monetization strategies beyond digital ads are gaining momentum among Indian consumer apps. Social and content platforms like Moj, Sri Mandir, Seekho, STAGE, FRND, and AstroTalk have scaled on the back of newer direct forms of user monetization, including subscriptions, microtransactions, and digital services. 

India’s top 2% are a $100 Bn opportunity: 

India’s top 5Mn households (~2%) hold more than 50% of country’s wealth and also contribute disproportionately to consumption. Over the next decade, their discretionary spend pool will climb to $100Bn.

Pets ($7 Bn opportunity), Premium Leisure Travel ($20 Bn opportunity), Home Rentals ($8 Bn opportunity), and Premium Healthcare ($10 Bn opportunity) are some of the themes founders can capitalize on when building for this audience, which has unique needs and desires premium quality. 


Many Massive Marketplaces Are Waiting To Be Built: 

Online consumer marketplaces will shape India’s consumption across various categories, including shopping, travel, grocery, mobility, health, education, local services, and real estate.

Platform businesses capture 80% of India’s online consumer spends, estimated to reach $300Bn by 2030.

Marketplaces that solve for secondary home transactions ($30bn opportunity) through a ‘Spinny’ model, vertical platforms for home furnishing ($23bn opportunity) and novel marketplaces that build for new consumer archetypes like the GenZ and Bharat consumers are some emerging opportunities awaiting founders


New-Age Consumer Brands Will Create $50 Bn Of Listed M-Cap

The combined revenue of new-age consumer brands in India today stands at $5.6bn and continues to scale at a rapid clip.

India will have 300+ new-age brands surpassing the ₹100 Cr revenue mark in the next three years as several enablers for D2C brand-building converge.

25-30 breakout consumer brands across categories like home, footwear, durables, QSR, toys, etc., will account for a listed market cap of ~$50bn by 2030.

Offline-Dominant Models Will Unlock Deep Customer Value Across Education, Healthcare and Consumer Brands

Some of the successful new-age consumer brands have also leveraged offline retail for growth, including Mamaearth, Lenskart, and boAt.

In Education, test prep, upskilling and pre-school are categories where an offline-dominant approach is a superior model to pure online learning.

Fertility, women and child, oncology, dermatology, diagnostics and pain management are a few single-specialty offline-dominant categories in healthcare where deep customer value can be unlocked.

India's online consumer spending expected to reach $300 Bn by 2030: Elevation Capital report

Germany's tourism industry is witnessing a notable growth in visitors with Indian tourists playing a key role in driving this development. The country welcomed over 8 lakh overnight stays from India in 2023, marking a large rise in German tourism compared to the previous years. This trend highlights Germany's appeal as a sustainable and travel friendly destination offering diverse cultural experiences and hidden gems that captivate the hearts of travelers be it from India or any corner of the world.
 
The German National Tourist Office (GNTO) and German Embassy in India successfully concluded a joint press conference, to showcase Germany as a preferred travel destination for Indian travelers. The conference took place at the German Embassy in New Delhi and was attended by various media personnel from India.
 
In recent years, Germany has seen a significant increase in Indian tourists choosing the country as their most preferred travel destination. The remarkable growth of 32.6 percent as compared to 2022, reflects the rising interest among Indian travelers in exploring Germany's rich culture, scenic landscapes, historic landmarks, and renowned culinary experiences. Germany’s commitment to eco-friendly tourism practices offers travelers the opportunity to meet with sustainable cultural experiences while minimizing their environmental impact.
 
As the tourism industry in Germany grows day by day, the country aims to increase the visibility of the 52 UNESCO World Heritage sites and attract visitors interested in exploring the country's sustainable social heritage. Not only does Germany lives and breathes history and rich culture, but it is also home to many hidden gems waiting to be discovered by travelers seeking out of the ordinary experiences.
 
Through these routes, they can explore the charming villages and lesser-known tourist attractions that offer a glimpse into the country's authenticity. From exploring Brandenburg Gate and the historic streets of Munich to getting lost in the scenic beauty of the Black Forest and Rhine Valley, Germany offers countless experiences that appeal to Indian travelers seeking memorable vacations.
 
Furthermore, Germany's well-developed infrastructure, efficient transportation networks and high standards of safety and hygiene have positioned it as a preferred destination for seamless travel experiences. The country's commitment to sustainability and eco-friendly tourism practices also resonates with Indian travelers who prioritize responsible travel.
 
"We are delighted to see a growing number of Indian tourists choosing Germany as their destination of choice. Germany offers a wholesome experience of scenic beauty and a rich culture, combined with magical theme-routes and eco-friendly tourism. We believe it is the ideal destination for travelers wanting to revel in warm hospitality and scintillating cuisine. We look forward to welcoming more Indian visitors and showcasing the best of what Germany has to offer. " Romit Theophilus, Director of Marketing & Sales Office – India at the GNTO.
 
"We are thrilled to witness the growing interest among Indian tourists in exploring Germany. The remarkable growth of 32,6% compared to last year is no surprise, considering Germany's impressive ranking in the global Nation Brands Index 2023. This year is even more exciting- we have our biggest European Football event, the Euro Cup, this summer, and we have a host of offerings in the cultural and historical sphere. Situated in the heart of Europe, Germany also offers a vibrant, dynamic, and commercially attractive destination for young travelers. This growing people-to-people contact is crucial in strengthening the foundation of our bilateral partnership like never before." Mr. Georg Enzweiler, Deputy Head of Mission at the German Embassy.
 
 

Germany witnesses growth of 32.6 percent visitors from India compared to previous year

The Podcast Pulse, a comprehensive report on podcast consumption in India developed by UNPAC Research (OPC) Pvt. Ltd. with the support of Ideabrew Studios, offers unprecedented insights into the evolving landscape of podcasting in India.

Despite the gradual adoption of podcasts into daily media consumption routines, a lack of comprehensive data on consumption patterns has hindered its recognition as a powerful platform for connecting with consumers.

India has surged to become the third-largest market for podcast listeners globally, yet only 12 percent of Indians are currently engaged, leaving a vast untapped audience waiting to be explored. The Podcast Pulse addresses this gap by offering actionable insights into consumer preferences, content choices, favored hosts, and preferred platforms.

The methodology behind The Podcast Pulse involved a meticulous blend of quantitative and qualitative research techniques. Engaging 2,170 individuals across 10 cities in India, including Mumbai, Delhi, Chennai, Bengaluru, Kolkata, Ahmedabad, Lucknow, Indore, Patna, and Jaipur, the report gauged awareness and listenership statistics. Additionally, detailed interviews with 1,800 active listeners provided invaluable insights into their behavior and preferences.

Key findings from the report include:

•       82 percent of respondents were initially unaware of podcasts, highlighting a significant opportunity for awareness-building efforts.

•       78 percent of consumers discovered podcasts less than a year ago, indicating a recent surge in interest.

•       Authenticity and vulnerability in podcast conversations are highly valued by listeners, fostering a deeper connection with hosts and content.

The report also explores consumption patterns, including weekday vs. weekend trends, preferred episode lengths, and the rise of regional language content. Regional podcasts are identified as a driving force in shaping the industry's future, offering audiences a more relatable and culturally resonant listening experience.

Furthermore, The Podcast Pulse profiles the Aware listener – detailing gender, occupation, age, and level of education – and conducts a deep dive into genre dynamics and explores the nuances between audio and video podcasts.  It charts the four stages of podcast enthusiasts’ journey, from their curious Exploration and Discovery phase to Advocacy as they actively promote and champion their favorite podcasts.

Sheetal Choksi, Director, UNPAC Research says, "We believe The Podcast Pulse is a game-changer, providing insights into India’s podcast consumption and offering a roadmap for creators and platforms to navigate the evolving preferences of Indian audiences, empowering industry professionals and stakeholders to unlock its full potential. As a podcaster myself, I experienced firsthand the challenges in accessing comprehensive data about our audience. Beyond some basic data, no one was able to answer questions like who was listening to podcasts, when, why certain genres did well, etc. This realization was the genesis of The Podcast Pulse – an earnest attempt to fill the void and provide actionable insights for the entire industry."

Aditya Kuber, CEO, Ideabrew Studios says, “At Ideabrew Studios, we are passionate about fostering innovation in audio storytelling. The Podcast Pulse not only showcases the immense potential of podcasts in India but also underscores the importance of diverse and authentic narratives in shaping the future of audio entertainment. This report will be a definitive look into podcast consumption data for advertising agencies, brands and everyone looking to meaningfully engage with a large audience.”



India third-largest market for podcast listeners globally; yet only 12 percent Indians currently engaged

The entire automotive industry is ripe for disruption with the marriage of various advanced capabilities from electric drive train and AI-driven autonomous driving to advanced HMI, real-time HD maps and infotainment systems. All of these capabilities require an active, stable, low latency and high-bandwidth cellular connectivity. This is where 5G steps in, adding another technology dimension to tie these capabilities together.

Over the last decade, 4G was the major cellular connectivity embedded in car via NAD modules focusing on telematics, safety and emergency call use-cases. However, the use-cases for the cars rolling out over the next decade will warrant 5G connectivity to satisfy the new advanced mobility use-cases. According to Counterpoint’s latest Smart Automotive research report on the Global Connected Car Forecast by Technology, Regions and Brands, two out of every three cars sold already feature embedded connectivity and this will grow to almost 100% connectivity by end of the decade. The cumulative sales of 5G embedded cars will account for almost half of the total connected cars sold between 2024 and 2030.

At present, Germany leads in terms of connectivity penetration, but China is expected to achieve 100% connectivity penetration by 2028. This development positions China to lead the global connected car sales market by 2030, with USA, India, Japan, and Germany following suit. These top five countries are projected to collectively account for over two-thirds of global connected car sales by 2030.

Commenting on the regional dynamics, Senior Analyst Soumen Mandal said, “China is poised to dominate the connected car market, fueled by the rapid adoption of EVs, C-V2X and other connected infotainment features. Domestic EV manufacturers such as BYD, NIO, Xpeng and Li Auto are striving to differentiate their offerings from traditional players and expand into international markets.”

Mandal added, “In the US, the world’s second-largest connected car market, growth will be driven primarily by the adoption of advanced safety features such as Vehicle-to-Everything (V2X) communication and Level 2+ autonomy. Telecom giants like AT&T are at the forefront of the connected car space, while competitors like Verizon and T-Mobile are striving to capitalize on revenue opportunities through features like predictive maintenance, service scheduling, remote diagnostics, live maps and content platforms.”

“India is set to experience the fastest growth in connected car sales between 2023 and 2030. Indian automakers are gradually catching up with their international counterparts and enhancing their digital offerings to improve the driving experience,” Mandal said.

Commenting on the connectivity trends, Senior Analyst Parv Sharma said, “Currently, more than 96% of connected cars are powered by 4G while 5G is still picking up. The higher price of 5G telematics devices, lack of 5G infrastructure and unavailability of killer use cases have been the major reasons for 5G’s slow growth earlier in the decade.”

“However, with increasing 5G coverage and the introduction of L3+ ADAS, 5G adoption in connected cars will be swift for the rest of the decade. The availability of 5G RedCap in 2026 will also find application in lower-tier cars, driving mass-market adoption sooner rather than later. We forecast that by 2030, almost 90% of cars sold will have 5G connectivity.”



Global connected car sales to exceed 500 million in 2024-2030; China, USA, India to lead sales

Homegrown personal care brand Bombay Shaving Company has taken moment marketing to 'new lows', it seems, with a print advertisement addressing Prachi Nigam. The ad is for BSC's female-focused brand Bombae. 

Nigam made headlines recently after she topped Uttar Pradesh's Class 10 board exams. Soon after her image appeared in the press, internet trolls began mocking the teen for her facial hair. But netizens also fought back against the trolls, voicing their support of the teenage girl. Several internet users raised serious concerns about online bullying and the impact of social media trolling and abuse on person as young as Nigam.

This, of course, is a serious matter. But BSC seems to have "commercialized" the issue with an attempt to "monetize" a young girl's story with an "opportunistic ad" that claims not to be opportunistic. 

The company's founder Shantanu Deshpande shared the ad, saying, "It was shocking to see the amount of hate targeted at a teenage girl who had TOPPED AN EXAM because of her facial hair. Our simple message to this amazing young woman with such a bright future." 

He added in the post, "Love to see my team ooze class. No opportunistic sale, QR code, nothing. Just a heartfelt message to a fellow Bae." 

But the attempt to send a "heartfelt message" has fallen flat. 

<iframe src="https://www.linkedin.com/embed/feed/update/urn:li:share:7189839545729744897" height="493" width="504" frameborder="0" allowfullscreen="" title="Embedded post"></iframe>

Here are some internet reactions to the ad. 

"Poorly done. A different form of bullying that puts the girl in national spotlight. If the brand really wanted to do something, it could have supported her silently. That is actually advertising." 

"A scholarship to further her studies would have done more to help her ignore her haters." 

"Class? Don't think so. It is mauke pe chauka at the cost of a young girl and desperately screaming 'I am trying to be a cool brand'." 

"Haven’t seen something this desperate." 

"This message goes to their own TG, not to the people who bullied her, hey pls remember to buy our razors while you shed a tear for her. Read the line on the bottom right. Laughable." 

"Speechless. And, not in a good way. IMHO, the very intention of doing this sounds noble at first glance, but somehow still reeks of opportunism," wrote Shantesh S Row on LinkedIn tagging the company and the founder.

He added, "Feel for Prachi. First, she gets trolled, inconsiderately. And now, she's an unwilling participant of a let-us-support-her-with-some-look-we-care-brand-moment-marketing-bullcrap-ad. Also, ironically, that subhead is just plain insensitive. Sorry, but this is an epic misfire...and utterly dishonest..." 

A female ad executive, who wished not to be named in this article, told Storyboard18, "They've tried to make the anti-ad with the comment at the end stating, "we hope you never get bullied into using our razor". What were they thinking! It's cringe, it's lazy and it is a blatant attempt to monetize and commercialize a serious issue." 

The young agency executive adds, "I wonder who are they speaking to? The answer is probably themselves. I am a woman and this ad is not only opportunistic but also pandering and condescending. It's a new low. I feel bad for Prachi too. She didn't deserve this after all the trolls and hate has had to face." 

"The kid would want this episode to end as soon as possible. But No! A brand wants to splash her name again. Without her consent most likely. To sell their own razors," says Abhishek Asthana, founder of creative agency, GingerMonkey. 

"Very poor taste!," he said, adding, "Also, somehow the brand assumes their Razors are the cure for a hormonal disorder. Belabouring the point that it’s “NOT Normal” and she needs their razors to look “normal” The ad just assumes, she must need razors. Pathetic." 

Deepak Gupta, co-founder and COO of Bombay Shaving Company, took to LinkedIn within a few hours of the ad's release and backlash beginning, to say, "While the jury is still out, and there are ongoing debates within our internal team as well about whether we should have released this public message, this is what our brand Bombae stands for “spirit of freedom and self-expression”. Cheers to all the Prachi's from our team at Bombae for their courage and aspirations!"

A senior advertising executive told Storyboard18 on the condition of anonymity that startup brands often have a holier-than-thou attitude. He added, "We see it in personal care, in tech and in the food space. They think they are better than everyone else. That kind of unquestioned thinking and hubris can be detrimental to the brand. These brands should know when to speak and when not to speak. It's Purpose without true direction. Everything is not a moment marketing opportunity."

Bombay Shaving Company's 'opportunistic', 'desperate', 'laughable' Dear-Prachi ad slammed by internet users

Virat Kohli is a name that resonates with cricket fans worldwide. From his audacious stroke play to his fiery on-field demeanor, Kohli has redefined the game with his sheer passion and commitment. However, Kohli’s is a story of controversy and confrontation, a narrative that has shaped his journey to greatness. Whether it's his heated exchanges with fellow cricketers or his outspoken nature off the field, controversies are no stranger to him. 

Clash with Gautam Gambhir: One of the most memorable incidents involving Virat Kohli occurred during the 2013 IPL match between Kolkata Knight Riders and Royal Challengers Bangalore. As the captain of RCB, Kohli engaged in a heated argument with Kolkata's skipper Gautam Gambhir, resulting in a tense standoff that was eventually diffused by umpires and players.

Middle Finger Incident: During his early days in international cricket, Kohli courted controversy during a tour to Australia when he was seen showing the middle finger to the Sydney crowd. Kohli later explained that his actions were in response to abusive language directed at his family, highlighting his fiercely protective nature off the field.


Outburst at Journalist: The 2015 Cricket World Cup saw Kohli embroiled in another controversy when he lashed out at a journalist whom he believed had written an unfavourable article about him and his then-girlfriend, now wife, Anushka Sharma. 

Umpiring Controversy: In a Test match against Australia in 2017, Kohli accused Australian captain Steve Smith of seeking illegal assistance from the dressing room for a review.


Sunil Gavaskar Controversy: During the 2020 IPL, Sunil Gavaskar made a comment about Kohli’s performance, suggesting that he only practiced batting during the lockdown with Anushka Sharma bowling to him. Sharma’s public response underscored the challenges of being a public figure in the age of social media scrutiny.


As Virat Kohli continues to etch his name in the annals of cricketing history, his journey serves as a reminder of the complexities of success. While controversies may have punctuated his career, they have also been a testament to his unwavering spirit and fierce determination. Kohli's story is not just about cricket; it's about resilience, passion, and the relentless pursuit of excellence. As he continues to push the boundaries of the game, Kohli remains a symbol of inspiration for aspiring cricketers and sports enthusiasts around the world. His legacy is not just in the runs he scores or the matches he wins, but in the indelible mark he leaves on the hearts of fans everywhere.


Virat Kohli: A brief history of controversies and confrontations

The Indian gamer base is expected to rise to 893 million by 2028 on the back of robust growth drivers. Despite the GST-driven slowdown, the growth fundamentals will also lead to a growing base of paid users as a share of total user base, stated the India Gaming Report 2024 by Interactive Entertainment and Innovation Council and Winzo.

The growth of hardcore gaming subsegment is projected to outpace all the other subsegments of Indian mobile gaming industry. Hardcore games provide high engagement to gamers on account of extensive simulation, intense and complex gameplay, and mechanics and storyline.53 Monetization per user is expected to moderate on account of the recent hike in local tax (GST). The growth will be driven by behavioural changes and increase in ad spends due to greater engagement.

Around 20 percent of gamers in India are paying users, with Pay to Play, Casual and Core games.

In-app purchases are projected to grow at the highest rate at ~35% CAGR; with the rise of paying users across casual and core genres. Around 20% of gamers in India are paying users, with Pay to Play, Casual and Core games the most popular $0.18 Bn $0.22 Bn $0.01 Bn $0.02 Bn $0.42 Bn Others FY23 FY28E Source: IEIC Analysis amongst paying user base.

While the industry fundamentals will lead to growing user base over the years, such growth will not translate into equivalent user monetization on account of recent tax policies. The share of Non-RMG segment will increase to ~21% of the online gaming market by 2028E.

Battle royale gaming driving the massification of hardcore mobile gaming

Battle royale games have been instrumental in demonstrating that mobile gaming has the capability to catch the attention of the nation. Multiplayer games are seeing increased time spent and monetization because consumers like to compete and spend time socially with their friends. Battle royale games is a popular format wherein multiple players participate in a combat zone to eliminate each other and the last player to survive wins the game. 

Increased focus on culturally familiar and vernacular content, along with visual and voice features are helping onboard new gamers and driving higher engagement. Battle royale games managed to monetize a significant part of their userbase through inapp purchases of skins, battle passes, etc. and boosted eSports popularity through tournaments and live streaming.

Early hardcore Gaming: Before 2015, hardcore mobile gaming was a niche affair. Low smartphone penetration coupled with fewer available titles, kept hardcore gaming out of the masses’ reach. Even the more complex games were simple 2D side-shooters.

Massification of hardcore gaming: Price-relative performance of budget phones increased significantly, and complex games became common. Mobile ports of popular PC/ console titles were launched and a few were massive hits.

Future of hardcore gaming: As hardware and network become increasingly accessible, future technologies are being integrated into traditional gaming experience. VR toggle mode, cloud gaming, and auto generated worlds are under development.

Other key trends

Multiplayer games are seeing increased time spent and monetization because consumers like to compete and spend time socially with their friends. Battle royale games is a popular format wherein multiple players participate in a combat zone to eliminate each other and the last player to survive wins the game. Increased focus on culturally familiar and vernacular content, along with visual and voice features are helping onboard new gamers and driving higher engagement. 

Battle royale games managed to monetize a significant part of their userbase through inapp purchases of skins, battle passes, etc. and boosted eSports popularity through tournaments and live streaming. India is emerging as a talent hub, both for itself and the world. Larger talent pool is available with the number of gaming companies having gone up by 10x over the last decade. 

Early investments by international studios is translating to talent proliferation now. Influencer-driven user generated content and live streaming is nascent but the growing (~$100Mn) eSports industry is driving gaming adoption and higher engagement. Live Streaming is changing the gaming landscape - from consumption to distribution and beyond. Investors continue to actively scout and shape gaming space; The peak of early-stage activity in terms of investments is behind us. 

India is transitioning from a net importer of global gaming titles to a global exporter of content and IP. Battle royale gaming driving the massification of hardcore mobile gaming.

Indian gamer base is expected to rise to 893 million by 2028: Report

Protium, a tech-driven startup that takes a risk-focused approach to aid MSMEs and consumers, announces the launch of its #LetsGetFinanciallyLiterate campaign during Financial Literacy Month. Protium aims to demystify the complexities of lending processes and foster informed decision-making within the MSME community.

MSMEs contribute significantly to India's economy, accounting for 30% of the country's GDP, 48% of total exports, and employing approximately 40% of the total workforce. However, despite their pivotal role, many MSMEs face challenges due to a lack of financial literacy, hindering their ability to access funding and grow sustainably.

Understanding the pivotal role MSME plays in bolstering the national economy, Protium aims to address the pervasive lack of familiarity with essential financial concepts that often hinder entrepreneurs from accessing the resources they need to thrive.

Amit Garg, Partner at Protium said "In a market where change is constant and policies evolve rapidly, it's imperative that we support mid and small-sized businesses in every possible way. Empowering MSMEs with financial literacy isn't just about driving economic growth; it's about nurturing resilience and unleashing their true potential. In line with this commitment, our #LetsGetFinanciallyLiterate campaign stands as a beacon, offering practical knowledge and support to MSMEs".

To kickstart this initiative, Protium has been revamping its daily blogs to provide educational content focused on fundamental financial principles. Additionally, the company conducted a comprehensive survey revealing widespread gaps in financial literacy among MSMEs. This insight serves as the foundation for the campaign's educational content.

Protium is producing a series of educational videos featuring insights from its partners on key financial topics. These videos aim to provide deeper understanding and practical guidance.

Furthermore, the #LetsGetFinanciallyLiterate campaign will culminate in a series of follow-up articles authored by Protium, offering additional support and guidance to entrepreneurs seeking to enhance their financial literacy. 

Protium launches #LetsGetFinanciallyLiterate campaign during financial literacy month

As per a report by Accenture, the growing customer dissatisfaction has given rise to a new phenomenon: the serial churner. This group demonstrates fluctuating brand loyalty, cyclically subscribing to and unsubscribing from platforms as their content interests evolve. A significant portion, 59 percent of the respondents surveyed, belong to this group, showing a pattern of canceling and resubscribing to services in pursuit of desired content. This is a growing trend: 47 percent of consumers canceled more subscriptions in 2023 vs. 2022. 73 percent discontinued at least one service and 52 percent cancelled two or more times.

Traditional media is rapidly losing customers, experiencing a critical exodus that signals a looming danger. Consider: The survey revealed that 57 percent of consumers increased their time spent on Subscription Video on Demand (SVOD), but also 26 percent of them indicated that time on linear TV (nonsports) decreased since last year. Meanwhile, consumers increased their time spent on social media (52%), social video (52%), and video games (50%), spaces where legacy
media companies have little to no footprint.

And highlighting a seismic shift in entertainment preferences, 59% of consumers said they regard user generated content as equally entertaining as traditional media, signaling a competitive upheaval in the quest for audience attention. And 58% place as much trust in the voices of independent content creators as they do inestablished news outlets.

Even established streaming providers find themselves teetering on the brink of survival. Our survey's 11 "choice scenarios" revealed a clear consumer bias in favor of social media and video platforms over both traditional and streaming media. In most scenarios, the preference for social platform-based content over SVOD services nearly doubled last year, highlighting a significant s

36% struggle to find something entertaining to watch while 52% say recommended content does not match their interests. Serial churners on a rise 60% of consumers cancelled and resubscribed to services based on the availability of desirable content 26% indicated that time on linear TV decreased since
last year, while increased on social media (52%), social video (52%), and video games (50%) 54% spend at least 6 minutes or more trying to find something new to watch. Since 2021, consumers spending 10+ minutes has doubled to 30% 47% of consumers cancelled more subscriptions in 2023 vs. 2022.

59% say user-generated content as equally entertaining as traditional media, signaling a competitive upheaval in the quest for audience attention. 


60 percent consumers cancel and resubscribe to services basis availability of desirable content: Report

In a leaked internal memo, Tesla CEO Elon Musk informed employees that thousands of them will be laid off. According to reports the job cuts will affect 14,000 workers, following months of speculations about layoffs. 

The memo stated that Tesla has seen rapid growth with multiple factories scaling around the globe. "With this rapid growth there has been duplication of roles and job functions in certain areas. As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity," said Musk in the leaked memo. 

It added, "As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10 percent globally. There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle." 

"It is very difficult to say goodbye," read the memo signed by Musk. 

"For those remaining, I would like to thank you in advance for the difficult job that remains ahead. We are developing some of the most revolutionary technologies in auto, energy and artificial intelligence. As we prepare the company for the next phase of growth, your resolve will make a huge difference in getting us there." 

Last week, reports on Tesla chief Musk's India visit outlined his plans. The much-awaited India visit will last around 48 hours during which the billionaire will make mega announcements, including plans to start Starlink services in India. As per a CNBC-TV18 report, Musk will be in India on April 21 and 22 and the Tesla CEO and his team will meet government officials and industry representatives. 

On April 10, Musk posted on X: "Looking forward to meeting with Prime Minister Narendra Modi in India!" 

CNBC-TV18 also reported that Musk will announce an investment plan of $2-3 billion for India and Tesla is also looking to not only manufacture cars for India but also export them to global markets.



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