Mumbai, Aug. 31 -- TV is dying. This is perhaps the most enduring cliche in the media and entertainment industry. Yet, the medium persists.

In conference rooms and at global festivals, digital evangelists point to mobile video and connected screens as the future, dismissing television as a relic of the past. But the numbers, and the marketers spending the money, tell a very different story.

India has about 210 million TV households, which means a 70% penetration among the country's 300 million homes. As many as 100 million households have yet to buy their first set. Indians are not just watching; they're watching more. Rural audiences now spend 44 minutes more per week on TV than two years ago. Gen Z, supposedly the "Netflix generation"...