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NDTV, Genpact announce Media, Broadcasting and Entertainment alliance

30-March-2006
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NDTV, Genpact announce Media, Broadcasting and Entertainment alliance

Genpact, formerly GE Capital International Services, and NDTV, leading Indian media and broadcasting company, on Wednesday jointly announced an alliance to offer media outsourcing services to enterprises worldwide.

Under the terms of the agreement, Genpact and NDTV will form a jointly-owned venture that will focus on providing cost-effective, high quality media services to global and regional media and entertainment companies in areas like editing, digitization and closed captioning.

The venture between NDTV and Genpact will be the first to offer tailored outsourcing solutions to the media industry, allowing companies to respond to these changes quicker, faster and cheaper than would otherwise be possible.

Currently, 70 per cent of all media work is digital and virtually 70 per cent of this can be outsourced. In some ways, the media world is currently at an inflection point similar to the Y2K phenomenon, as decades of analog are being converted to digital from major process-based operations to high-end functionality. Genpact and NDTV plan to capitalise this untapped market.

The joint venture aims to deliver value and business impact to global media and entertainment customers. The venture will combine NDTV’s brand image, domain knowledge and world-class media skill sets with Genpact’s offshore experience, global delivery capabilities, sales and marketing infrastructure, and reputation for operational excellence.

“We are very excited about this new venture and believe that there are significant untapped opportunities around the world. We hope to break new frontiers and push India's media envelope even further”, said Dr Prannoy Roy, Chairman of NDTV. “Our partner, Genpact, and their outstanding experience and reputation in global business processes, combined with NDTV's commitment to quality and cutting-edge technology, should deliver significant value for media and entertainment players around the world,” he added.

He further added, “We have started working in Poland and the Philippines with the clients. We are hiring 1,500 people in both these countries.”

Commenting on the alliance, Pramod Bhasin, President and CEO of Genpact, said, “This is a landmark deal, the first of its kind to offer outsourcing solutions for the media industry. Through our partnership with NDTV, our customers will gain access to customised solutions and be able to further benefit from our global expertise and cost-effective service delivery. With 20 years of experience, NDTV’s domain knowledge will provide this venture a solid foundation to pursue opportunities in the growing media space.”

Bhasin further said, “We would have a delivery centre and a separate team who will work for the NDTV and Genpact teams in Gurgaon. There’s a huge scope of bright and enthusiastic talent availability in India. We will hire people with technical skills and train them for our global customers. Currently, we are going to target international media and entertainment companies’ clients. The names of the clients can’t be disclosed due to SEBI guidelines. We don’t have plans to work domestically with media and entertainment companies.”

The entire global media and entertainment industry was estimated at $1,340 billion at the end of 2005 and is expected to grow to $1,777 billion by end of 2009. In addition, there are a number of drivers that are changing the dynamics for the industry, such as the increasing prevalence of HDTV, digital content and on-demand programming.

The changing dynamics have created a need for media companies to ensure that their content is digitised and available for customers to access and use. There is also pressure on media companies globally to cut costs and outsourcing is one of the established means to achieve this.

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