The Television Eighteen Network has created an umbrella for its business and consumer properties, called ‘The CNBC Universe’, to build a unified brand image and has brought Awaaz channel, Moneycontrol.com and CompareIndia.com under it. The Group will also be launching the Hindi versions of the two websites under the same umbrella to create India’s first consumer and multimedia platform.
The company claimed that the business news market and audience had grown three-fold since the launch of Awaaz channel, and CNBC Awaaz, as the channel will be known from now on, had been one of the key drivers of this market expansion.
Raghav Bahl, Promoter and MD, TV18 Network, attributes this phenomenon to the ‘democratisation of wealth’ that has happened in India in the last 2-3 years. “The benefits of economic liberalisation have evidently seeped into ‘Middle India’. It is, therefore, little wonder that a consumer focused offering in Hindi like CNBC Awaaz has resulted in the democratisation of business and financial information as well.”
Haresh Chawla, Group CEO, TV18, said, “We had consciously decided to stay away from the ‘Hindi Business’ tagline during the initial phase of Awaaz. This was done primarily to build the case and show to the Indian audience that a consumer centric business offering in Hindi will work and eventually emerge as a dominant player in the business news television space, making it an integral part of the CNBC stable. More than 55 per cent of the new business audience has actually come through Awaaz channel.”
In another move, the Hindi versions of Moneycontrol.com and CompareIndia.com will be intergrated into the Awaaz channel. Viewers of CNBC Awaaz’s consumer based shows like ‘Smart Shopping’, ‘Prime Property’, ‘Jiyo Zindagi’, etc., will now have the option of getting detailed product comparisons across a variety of products and parameters by logging on to Compareindia.com.
B Saikumar, CEO, TV18 Media Network, said, “With the addition of Moneycontrol.com and Compareindia.com in Hindi, a truly integrated platform is now available for progressive Hindi speaking audiences.”
With the creation of a common platform for business and consumer audience, TV18 also hopes to attract more advertisers and serve them better. “With the CNBC Universe, we are providing a 360-degree business proposition to our advertisers as well,” Saikumar further said.
Commenting on the creation of the CNBC Universe, Adrian New, Vice-President of CNBC Asia Pacific, said, “We are extremely thrilled with the growth of the business and consumer news market in India, led by CNBC Awaaz. Our Asian and global clients have already been acknowledging this Indian phenomenon and it reflects in their India plans. This is perhaps a role model for our global operations, particularly with regards to Asia. The arrival of a ‘mass affluent’ business consuming audience is not just an Indian reality, but an Asian one.”