News Desk : dhakamirror.com
The ICC Cricket World Cup 2023 captures the attention of sports enthusiasts across the world and an intriguing trend is emerging in Bangladesh’s television market. While events of this magnitude have traditionally led to an increase in TV sales, recent figures from September show a 30% decline compared to the same month last year. This unexpected downturn is being overshadowed by an even more significant change: the rise of streaming.
It’s true that the escalating cost of living has influenced purchasing decisions. The Consumer Price Index for 2022-23 recorded an alarming 9.02% increase, marking the highest inflation rate in 12 years according to the Bangladesh Bureau of Statistics. This economic climate, compounded by the devaluation of the Taka against the US dollar, which pushed TV prices up by 32%, has forced many households to reevaluate their spending habits. However, beyond the realm of finances, an even more profound change is at play.
A telling statistic from July 2023 indicates that a whopping 56% of global viewers now prefer to stream sports on their Smart TVs or smartphones. This shift towards streaming isn’t unique to Bangladesh. In the UK, 37% of sports fans have increased their mobile sports viewing just in the past year. And by September 2023 in the United States, while a significant 87% accessed sports through either cable or streaming platforms, a majority of 51% have made the leap to streaming exclusively.
This evolution in sports viewing habits points to the undeniable convenience and accessibility that streaming on mobile and smart devices offers. Traditional TV watching, even for major events like the Cricket World Cup, is increasingly taking a back seat to the allure of on-the-go, flexible viewing options.
The rise of streaming, especially on smaller screens like mobile devices, is a paradigm shift that’s shaping not just the TV market in Bangladesh, but the global entertainment landscape. The pressing challenge now is how the consumer electronics market will pivot to cater to this rapidly changing preference.
– Input from The Daily Star was used in this article.