Delhi-based captive audience network company LiveMedia, founded by Rajan Mehta in October 2006, plans to grow horizontally, vertically and technologically in 2008.
Elaborating on the expansion plans Founder and CEO, Mehta said, “We are currently present in over 1,100 locations through 2,200 screens. We have plans to move from metros to Grade-A, and Grade- B cities by the middle of 2008. We have plans to grow vertically and trap health segments and hospitality sectors. We need to keep bringing in new technology in order to compete in the market.”
Mehta further said, “Over the past few years, lifestyles have changed and so have people’s media consumption habits. LiveMedia, through its captive audience network, is reaching out to people who otherwise are media averse, thereby helping advertisers increase their effective and real reach. Also, with time this medium will develop its own genre of ads that are most effective on this medium, thereby unleashing a new wave of creativity.”
LiveMedia has designed branded programmes to keep viewers engaged in the targeted locations. The audiences spent an average of 20-30 minutes sitting in front of the LiveMedia screens, enjoying programmes like graffiti, horoscope, fashion, trivia, Randy Glasbergen animations, etc., claimed Mehta, adding that the programmes were specifically designed and selected keeping in mind the profile and frame of mind of the people visiting these places.
“LiveMedia programmes are all designed keeping in mind the profile of the audience who watch our screens. For example, we have tied up with a US-based cartoonist called Randy Glasbergen, who specialises in workplace humour. The cartoons are animated by us here in India and then shown in various relevant places. We now run over 12 different programmes each of which is building stickiness amongst the audience,” added Mehta.
Advertising has played a significant role in LiveMedia. “We have currently two types of clients. One is where we put up there screens, and secondly, are the advertisers. We have around 60 advertisers on board at the moment and 70 per cent of them repeat customers. These advertisers include Maruti, Unilever, ITC, Sony, GSK, LG, Tata Sky, Reliance ADAG, DishTV, Walt Disney, Big FM, Radio Mirchi, Radio City, Zee and Mid-Day,” said Mehta.
Regarding the growth prospect of this industry, Mehta said, “We believe this industry will grow reasonably fast as advertisers realise its various benefits such as the ability to precisely target their various target segments with appropriate messages. Cost effectiveness is important.”
Citing an example of context-based advertising, he said, “A mouth freshener ad being seen by a customer while having his meals in a restaurant will encourage him to step out and buy one. Or a Quaker Oats ad being beamed in front of a health conscious guy while he is working out in the gym, will have a stronger chance of it converting into a buying decision.”
LiveMedia is funded by Draper Fisher Jurvetson, a leading international US-based venture capital firm, having the record of funding some very successful companies like Hotmail and Skype, among many others.