Digitisation, Brand Building and Pooling of Resources Vital for Future Revenue Streams in Electronic Media, Say Top CEOs
MUMBAI, March 25, 2011. Revenue streams in the future for the electronic media will emanate from brands and product differentiation strategies, pooling of resources such as the use of OB vans and the ability of the players to reach out to newer markets like the Indian diaspora.
This view was expressed here today by CEOs of eminent TV channels at a discussion on ‘The Future of Electronic News’ at FICCI FRAMES 2011.
The panellists were Mr. G. Krishnan, Executive Director & CEO, TV Today Network; Mr. Ashok Venkatramani, CEO Star News; Mr. M. K. Anand, CEO, UTV Global Broadcasting; and Mr. Sanjay Pugalia, Editor, CNBC Awaz.
Mr. Krishnan put much store by digitisation of content to allow the viewers to watch a news channel of their choice and bringing down the carriage cost of news. Mr. A Venkataramani saw merit in investment in content production and delivery for news breaks, rather than persist with the current practice of following the leads put out by newspapers and running them in news channels 11 A.M. onwards.
Brand building has to be an in-house effort, dictated by the needs of the consumer. This would go a long way in differentiating the product for the discerning consumer, Mr. Venkatramani said. This was imperative in a scenario where there are news channels that are guided by considerations other than economic returns.
The panellists also spoke about the need for consolidation in a fragmented market, the need to capture the potential of a market of young consumers, free pricing and self-regulation to keep the ‘intruders’ at bay.