Intersectoral capital movement and repositioning of television in the Indian media economy

With the growth of digital streaming platforms, the Indian media economy is witnessing widespread changes that challenge the business models of traditional media sectors. The article attempts to trace the overall movement of investment capital between the television sector and other sectors of the economy as a consequence of the digital transition. The study uses a combination of network analysis and qualitative analysis to detail a tectonic shift in the frequency and directionality of capital movement across two concomitant periods of remediation: digitalisation and platformisation. In the first period, television was the centre of capital inflow from other sectors, whereas in the subsequent period there was a repositioning of television as it became a centre of capital resources shifting to other sectors. This article argues that the logic driving these repositioning of capital derives from the perceived limits to growth in established business models and the redirection of advertising spend, a dilemma which arises from the underlying dynamics of revenue streams, competition for resources and a diversified national market.