Subhash Chandra, Chairman, Essel Group, and founder of Zee TV, gave a five-point presentation at the Media Review organised by the Advertising Club of Bombay. His presentation gave insights into understanding the media business, building partnerships, and the importance of being recognised as a global company. He also emphasised on media co-operation in terms of content creation and its role in upbringing both its business and society.
Chandra started off his presentation by saying that there was a need to understand the business of media in an appropriate manner. Emphasising on the importance of generating ‘emotions’ among viewers, he pointed out that his media conglomerate had on several occasions shown good results by emotionally driving people through various means. He added that his company would further invest in technology, especially that which would help create content on mobile screens.
“It is the era of partnership, and those who will come up with win-win solutions would succeed in their business. It’s the end of competition and rise of co-operation,” Chandra said. He explained that co-operation within industry was crucial and that it helped in not breaking the value chain. “There have been instances in the past when a lot of time was wasted in bargaining and sticking to ones priorities. But this has to end, as time has come for us to understand each other’s need and move ahead in partnerships,” he said.
Chandra further said that with the advent of Web 2.0, there was tremendous scope for content development over the Internet. He then shifted his focus from the Internet to the new face of television. “Twenty per cent of the TV broadcasting companies are making good profits, and digitalisation will give them 40-50 per cent of added profitability.” Moreover, digitalised distribution would help a number of companies already in the business, and others planning to venture help survive in such a competitive environment, he added.
Explaining the importance of having a tool that would measure the genuine viewership rate, Chandra said, “The advertiser or a programmer must understand when his viewer moves away by pressing the remote button.” He also pointed out that his company was under the process of acquiring such a system.
Citing the example of Zee Sports acquiring Ten Sports, Chandra stressed on the importance of ‘being global’. “The Purchasing Power Parity (PPP) was increasing in India, but still there was a need to look at the overseas market,” he said.
“India is still a poor country. But if we do our bit for the uplifting of our society and in eradicating poverty, imagine the number of customers that would be added to our companies’ list and how bigger business opportunity would this be for us to tap these added customers,” he added.
Chandra concluded his presentation by emphasising on ‘beliefs’, and how important it was to have them to achieve goals. He used an A/V clip to corraborate his point and show how successfully his company, Zee had followed its beliefs in its success story.
Chandra’s presentation at the Media Review was preceded by a presentation by a Korean delegation led by Duke Hyun Chi on AdAsia 2007, which is scheduled to start on October 21-October 24, 2007 at Jeju Island, South Korea.