"After the two decades since the Broadcasting Law (was passed) in 2001, there have been many significant changes in the television media industry landscape, and digital factors have shifted the consumption patterns and behavior of media consumers," Patria noted.
He made the remarks during the inauguration of the ATVSI board for the 2023–2026 period in Jakarta on Tuesday.
According to Patria, technological disruption, which has shifted terrestrial broadcasting to digital broadcasting, has had many consequences, including on advertising.
"The ad growth is stagnant or fixed, there is no significant growth, (because) the competitors are growing," he pointed out.
Therefore, he said that television industry players must reformulate their business strategies as televisions are competing with content on digital platforms.
"They have to reformulate their business strategies because the ads are growing and the players keep increasing, which eventually, the strongest, the most creative, and adaptive, can survive," he added.
However, he said he is optimistic that the entertainment industry will be able to adapt and develop amid the presence of artificial intelligence technology.
The current trend is the advertising of entertainment content and digital media content, especially with the development of technology that can produce content at a lower cost, he added.
Based on statistical data from 2023, it has been projected that globally, the number of TV viewers will reach 5.7 billion by 2027, pointing to an annual growth of 3.66 percent between 2023 and 2027.
The trend is expected to contribute to the global TV and video entertainment industry income with a 3.04-percent annual increase forecast for the 2024–2028 period.
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Translator: Fathur R, Kenzu
Editor: Rahmad Nasution
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