MediAvataar's News Desk
Left to Right: Artist Al Qawi Tazal Nanavati with her work of art, The installation from top to bottom at NESCO, Closer view of the playing cards
World’s tallest and largest Wind Chime made of upcycled Playing Cards installed by B4U Music
Mumbaikars walked & clicked selfies inside the World’s Largest and Tallest Wind Chime which was over 25 feet tall and over 5 feet wide. The art piece by B4U Music was installed at Bombay Exhibition Centre, NESCO by renowned artist ‘Al Qawi Tazal Nanavati’ to create the World’s Tallest and Largest Wind Chime made from upcycled playing cards. B4U music, a leader in the Hindi Music genre wanted to create this experience for its audiences to spread awareness about recycling/upcycling and demonstrate how beautiful structures can be created from redundant waste keeping in mind the Swachh Bharat Mission.
The primary material used for installation consists of over 5000 old playing cards which were taken from B4U’s stock and upcycled to create a huge structure & art installation hanging from the ceiling near the entrance of Hall No. 2 of Hobby & Lifestyle India (Exhibition) at Bombay Exhibition Center in NESCO, Goregaon East. Besides, there were ghungroos added to give a musical feel and paper clips were used to hold the structure together. The wind chime had 2 rings, first one of 3.5 feet covered by a 5 feet external ring of playing cards to give a depth while the viewers experience the wind chime.
Harshal Jain, Marketing Head B4U Network said, “B4U Music embraces the idea of work and play whole heartedly. This notion has been thoughtfully worked on by artist ‘Al Qawi Tazal Nanavati’ to make a simple yet playful and engaging installation. The materials used are playing cards which are upcycled merchandise from B4U’s stock and paperclips to further the notion of work and play being simultaneous and facilitated by music. Ghungroo bells have been added to accentuate the feeling of being inside ‘B4U music’ or living the channels ethos. This magnanimous wind chime wants to make the engager feel what the brand stands for and how music and melodies are part of our everyday life.”
Chicago educated Artist and Teacher ‘Al Qawi Tazal Nanavati’ said, “Wind-chimes symbolize the arrival of soothing breeze. Reimagining it through playing cards and ghungroos added to the subtle musical quality they naturally hold. B4U has been exactly that for generations in our country, a soothing sound of Indian/Bollywood music. So, it made sense to me to make a grand installation since B4U and the Bollywood industry have always been the epitome of the old phrase "larger than life".”
Till date the world’s largest wind chime installation was in Illinois made of metallic tubes suspended 49 feet from the ground. However, B4U’s installation is made of upcycled playing cards and is the tallest and largest playing card wind chime created till date.
The installation was on display from 11th Oct to 13th Oct at Hall no.2 Bombay Exhibition Center, NESCO, Goregaon East. Off the Highway. The installation saw a lot of interest from malls and public spaces like railway stations are eager to have it displayed in their spaces for the common man.
The new feature gives users real-time updates of the stock market on their phone’s home screen
Moneycontrol, the leading finance platform in India, has introduced the newest feature named ‘Stock Pin’ on the Moneycontrol App. Stock Pin allows users to pin live stock prices on their phone’s home screen.
This is a global first in the industry, as no other financial app provides this unique and exclusive feature. For investors, this feature along with Moneycontrol Pro is a game changer as it helps them "Stay on Top" of business and markets.
This latest feature will enable the user to track the stock market’s highs and lows in real time and on the go. A user will no longer have to periodically open the app to check updates of their favourite stocks. Put simply, Stock Pin allows a user to track live share prices while simultaneously operating other apps.
Stock Pin gives a personalised touch to the Moneycontrol app and the feature can be modified according to the needs of a user. A user can add up to a total of four stocks/indices/futures and keep a watchful eye on them simultaneously.
Thanks to the novelty and uniqueness of Stock Pin, Moneycontrol has once again stolen a march over competitors. The Moneycontrol App is packed with the latest market data, exclusive stock reviews that help users analyse the performance of stocks and markets, along with the latest news as well as Live TV, Podcasts and ‘Video on Demand’ features. Users can also manage their finance portfolio, engage in conversations on the message board and receive expert advice from market leaders.
Explaining the latest feature on the Moneycontrol app, Manoj Nagpal, Business Head, B2C Revenue – Moneycontrol, said, “We at Moneycontrol consistently strive to provide and deliver a much-enhanced user experience. To be the undisputed market leader in any industry, one constantly needs to keep updating their products/services and that’s what we have conceptualised once again. With the introduction of the Stock Pin feature on the app, we have executed a change in the user interface that improves the app experience for the better. We have eliminated the amount of time, which was used to open the app by now making it visible on the home screen. Brands are now adopting the latest of technologies and going down the digital route to constantly reinvent themselves and stay ahead of their competitors. The implementation of this innovative feature that's one of a kind feature is testament to Moneycontrol having made a name for itself owing to its modern-day innovations and emerging as the market leader in the industry.”
In addition to this novel feature, Moneycontrol has come up with a Diwali offer for Moneycontrol Pro by providing the service for an annual subscription of Rs 289. Users can avail the offer of 75% discount, valid only until November 10, by using the code "DIWALI". Moneycontrol Pro provides users with expert investment advice, sharp industry insights to decode India's finance and business landscape, and exclusive inputs from professional charts — all offered in an ad-free experience.
Moneycontrol once again continues to strengthen its position in the industry while the app will keep improving and adding more features to its kit. Always striving to give the consumer an easy way to access information, Moneycontrol, as a leader in the business sector, has given the audience another feature that makes consuming content much easier.
BDO and WARC's latest insights report puts year-on-year global martech growth at 22%
North America and UK's combined martech market reaches $65.9 billion
An increased focus on data brings investment and skill-set challenges
The global marketing technology market is now valued at an estimated $121.5 billion, representing a year-on-year increase of 22%, finds international accountancy and business advisory firm BDO, and WARC, the worldwide authority on advertising and media effectiveness. This and other key findings are included in their 'Martech: 2020 and beyond' report, published today.
For a third consecutive year, the report, based on an annual survey of more than 750 brands and agencies in the Americas, United Kingdom, Europe and Asia-Pacific to assess the current state and future expectations of the marketing technology industry, demonstrates the health of the martech industry, with growth in budgets over the past year and further investments planned.
Damian Ryan, Media & Technology Partner, BDO, says: "The continuing consumer appetite for adopting digital technologies is driving growth in the market and providing opportunities for both big and small vendors of marketing tools across the globe.
"Marketers always need time to get their arms around new technologies, however, when marketers see competitive reasons to deploy these faster, this can cause problems in the access and resourcing of the right talent and skills. This prominent issue bears out in the report from the 750 brands and agencies surveyed."
Major findings across key areas included in the report are:
The majority of marketers globally expect martech budgets to stay the same over the next 12 months, but 43% expect an increase and only 4% expect budgets to decrease.
On average, brands in North America and the UK are spending 26% of their budgets on martech compared to 23% last year. Whilst North America has doubled its martech spend over the last two years, spend in the UK, a more mature market, has remained steady.
Though there has been substantial discussion in the industry regarding the in-housing of tech and services by brands from their agency partners, this year's results do not indicate a trend towards more in-housing of martech. The split between in-house and outsourced technology is around 50:50 in all regions - a ratio that offers room for growth both in the outsourced and in-house tech vendor markets.
Marketing technology - automation software, analytics tools and emerging tech such as AI - are all helping marketers to optimise their media spend. Whilst in last year's survey, the majority of brands felt that increased investment in martech had caused their media spend to decrease, this year, that number has dropped to under a third, with most respondents feeling that spend has been unaffected by martech investment.
Current use and capabilities of martech
Established disciplines are where the majority of respondents find use for martech tools. More than three quarters of brands use martech to assist them with email and social media, and more than a third for content, CRM and analytics.
As brands continue to focus on customer experiences over specific media, tech that helps marketers with experience optimisation and tracking are developing areas in the martech space.
The overall picture is one that has not yet reached maturity; only 24% of global marketers, 27% of UK marketers and 15% of North American marketers think they have all the martech tools they need.
The need for data skills and increased martech understanding persists
Globally, 68% of brands and 83% of agencies have seen an increased need for data skills associated with the use of marketing technology. Creativity was selected by 49% of brands as a priority over strategy and data, of which 21% considered it to be a top priority. In contrast, only 25% of agency respondents feel creativity should be the focus, prioritising instead strategy and data.
A key driver of the need for outsourcing marketing technology functions to agencies is a lack of expertise on the brand side, particularly in an era of rapidly diversifying technology and media options. As a result, skills are a much-discussed topic, whether in terms of upskilling internally or hiring discipline specialists, and opinions on which skills should be the priority differ among businesses.
Increased focus on CX
Customer experience (CX) has become a strategic priority for businesses that now have to compete hard for customers' attention in an omni-channel world.
Despite 96% of brands surveyed stating CX is important both offline and online, less than 50% are using martech to track customers between channels, but 73% feel they have the technology in place to optimise the customer experience across most, if not all, channels and touchpoints.
Future growth lies in adoption of latest technology
The use of technology in marketing is still nascent. Less than 40% of responding brands are currently using The Internet of Things (IoT) - a growing set of technologies based on devices that can share data via an internet connection - or connected devices, and a further 36% have no plans to use the tech in the next 12 months.
Artificial intelligence (AI) and cross-device identification (XDID) are cited as emerging technologies that aid marketers in the focus on customer experience. Biometrics and facial recognition are the least-planned by respondents.
Amy Rodgers, Managing Editor, Research & Rankings, WARC, concluded: "Despite spend on marketing technology increasing, budgets remain a constraining factor to growth for 50% of brands. The wealth of technology available presents a myriad of choices for marketers, who have to decide where to place budget; a decision that carries risk when it comes to nascent technologies. This perception of risk is reflected by 29% of respondents selecting a lack of understanding of the technology available.
"The fact that this proportion has not decreased since last year illustrates the constant change in the industry and reinforces the need for specialist martech skills to ensure effective budget allocation."
This year's report also features the findings of extensive qualitative research, via interviews with senior executives from leading brands and agencies, conducted by Dr Emma Slade of the University of Bristol.
Dr Emma Slade, University of Bristol, said: "I was interested in obtaining a deeper insight into the impact martech is having on brands and agencies, and how they navigate this increasingly crowded and complex environment. The creativity, strategy, data debate is particularly important to continue to explore as we try to equip future marketing leaders with the skills they need."
Onefootball, The World’s Leading Football Media Platform Signs Multi-Year Partnership Agreement With Taboola
Onefootball integrates content recommendations onto its platform for the first time
Taboola, the world’s leading discovery platform, today announced an exclusive partnership with Onefootball, the world's leading football media platform. The partnership will see Onefootball using Taboola’s discovery platform in its mobile app across the world to maximize traffic, increase user engagement and grow revenue.
In recent years, the Onefootball app has developed into the most popular media platform for football fans across the world with a large segment of Gen YZ users. Recently, the company announced that it will offer live-streamed content in cooperation with major rightsholders in addition to breaking news, statistics, and video content.
Currently, Onefootball reaches over 40 million football fans around the world every month including the US, Canada, Germany, Austria, Switzerland, UK, France, Spain, Italy, Brazil, Mexico, and India. Taboola will serve its users with personalized content recommendations encouraging users to stay engaged on the platform and expand its reach to capture new audiences.
“We are happy to team up with Taboola, a like-minded global digital player to support our monetization strategy around the globe. Our joint mindset around innovation and user centricity is a perfect fit,” said Patrick Fischer, Chief Business Officer, Onefootball.
“Users watching video content and live streaming experiences via mobile have increased exponentially over the past several years,” said Adam Singolda, CEO and Founder, Taboola. “I could not be more excited to partner with CEO and friend, Lucas, Patrick, and the rest of the Onefootball team in years to come to drive user engagement for users, driving loyalty as well as growing new audiences. These are times when users are looking to build relationships with brands they love and trust, and we’re thrilled to be part of that journey with Onefootball, powering those ‘moments of next’ where users are open to discover things they may love and never knew existed”.
KPMG in India in association with IMC and COAI launched a report on the TMT sector titled ‘Imagine a new connected world: Intelligent, Immersive, Inventive.’ at the India Mobile Congress 2019.
The report takes a deep dive into the digital ecosystem enabled through 5G, blockchain technology, IoT , AI, cognitive computing, machine learning and AR/VR to name a few . While the current investment and focus is on creating an enriched omni-channel experience for customers, it is the use of bots and blockchain that are going to be game changers in enhancing customer experience over the next five years, as per the report.
Further, on the need to address and allocate strategic importance to digital risk and data privacy, the reported highlighted that 57 per cent of the companies who have commenced work on digital transformation do not have a digital risk strategy, presenting a danger to the very existence of the organisations eventually. The report further throws light on the challenges in the implementation of the digital vision like financial stress in telecom industry, the high price of spectrum, inadequacy of a fibre network and the lack of device interoperability standards as well as suggests a way forward on how the industry could mitigate some of these challenges like the adoption of a sustainable and transparent pricing model, creation of Special Purpose Vehicles (SPV) to support international lending organisations, providing substantial investment into digital infra projects at cheaper interest rates, policy interventions in ease of doing business, and establishing funding mechanisms that provide grant funding to emerging tech start-ups.
Satya Easwaran, Partner & Head – Telecom, Media and Technology sector, KPMG in India said, “India has never been more alive in the telecom and technology space. We are excited to be a part of IMC 2019, at the core of all the action. There is a fundamental shift underway, with significant disruption and convergence in the roles of telecom and tech companies, as well as other sectors. This is leading to a wave of innovation and invention. It is imperative for companies to stay nimble from a strategic, business and customer experience standpoint, or else face potential losses or even bankruptcy. With the mobile data explosion over the last few years, rapid migration of customers to 4G, the advent of 5G in 2022, and all the associated technological possibilities in the next few years, we couldn’t be poised at a more pivotal juncture. There are some infrastructure and customer adoption challenges however, that we do need to address collectively as an industry. However as things stand right now, we are on the brink of an India which is intelligent, immersive, inventive.”
Purushothaman KG, Partner and Sector Lead – Telecom, KPMG in India said, “The future value that will be delivered through telecom operators is not by being the provider of ‘connectivity’ but as being a trusted partner and platform provider offering value and services and experiences to customers. We are living in exciting times where new technologies like 5G, IoT, AI and AR/ VR promise to revolutionise connectivity and unlock value by creating better, more secure and personalised experiences for everyone.”
Commenting on the industry growth, Mr. Rajan S Mathews, Director General, COAI said, “The global digital revolution at present is led by the telecom industry, which is providing services beyond the conventional offerings of access, interconnectivity and applications. A testament to India gaining a competitive edge over its global players is the fact that it has the world’s cheapest mobile data at USD 0.25 per GB, resulting in higher usage by its citizens. Also, India has made great strides in other aspects of internet inclusion such as regional penetration and gender parity parameters. However, in order to deliver value in future, telecom operators will have to go beyond being the connectivity provider and become a trusted partner and platform providing value, services and experiences to customers.”
Key technology trends of the digital ecosystem in India in 2019/2020
5G is slated to potentially add between 0.35 per cent to 0.5 per cent to the GDP of India: With potential still existing from existing technologies (2G, 4G) not fully exploited, India is expected to see a gradual migration to 5G by 2022. 5G is most likely to see widespread adoption by 2025 in India. Until then 2G, 4G and 5G will continue to co-exist. KPMG estimates that India Inc. has the potential to unlock USD48.69 billion (INR3408 billion) through the deployment of 5G over four years and the 5G contribution to annual GDP is likely be in the range of 0.35 - 0.5 per cent.
Disruptive technologies: table stakes or future stars: KPMG survey revealed that while India Inc.’s current table stakes are on data analytics and cloud, IoT, blockchain and AI are projected to be strategic investments and robotics and AR/VR are the future stars
o IoT will be the most immersive, intelligent and inventive of all technologies, and soon be ubiquitous, incorporated into how we live, work and play
o Blockchain is a technology trend that has seen wide implementation during 2019 and its applications will continue to expand beyond cryptocurrency
o The survey ranked AI, AR/VR, cognitive computing and machine learning as the top technologies that will have the highest potential to generate immersive experiences but are nascent in terms of their evolution and adoption. AR, VR and AI will all come together to form ‘Extended Reality’ (XR)
The transformation and adoption to the digital ecosystem:
Transformational changes in the telecom sector, technological advancements, positive policy intervention and increasing connectivity penetration have been key enablers of India’s digital dream. KPMG in India analysis 2019 survey indicates that 43 per cent of companies have begun work on emerging technologies but almost 31 per cent are yet to develop a roadmap for digital strategy. The importance of digital transformation has been recognised but the journey in transformation is still evolving
As per the survey, sectors that are likely to be the most disrupted by emerging technologies are retail, then financial services and technology, in that order 90 per cent of the respondents feel the need for product innovation with newer technologies and approaches is needed to enhance customer experience
While the current investment and focus is on creating an enriched omni-channel experience for customers imbibing AI and ML, survey respondents reckon face-to-face video communication, use of bots and blockchain that are going to be a game changer in enhancing customer experience over the next five years
Digital risk and data privacy will need management screen time: With the near ubiquitous nature of digital technologies, digital risk acquires strategic importance and needs to be addressed. Adoption of multiple digital technologies by the enterprises exposes them to a myriad of vulnerabilities impacting consumers’ privacy. A data breach could ruin the reputation of organisations and it is important to note that the average total cost of data breaches in India in 2017 was INR 110 million (USD1.57 million) making it important to mitigate the security concerns.
Challenges in the implementation of the digital vision:
o Adoption of the National Digital Communications Policy 2018 (NDCP) needs to be done in a more efficient and productive manner
o Financial stress in telecom industry coupled with high price of spectrum provides limited room for the industry to deploy and scale the digital infrastructure
o Inadequacy of a fibre network and the lack of device interoperability standards are impacting the quality of technology implementation and limiting innovation in the sector
o Enactment of the Personal Data Protection bill is a step in the right direction as far as data privacy is concerned but effective implementation and customer education is necessary to improve customer confidence in adoption of digital technologies.
The need of the hour:
Policy: Policy interventions relating to 'ease of doing business', RoW clearance, public-private partnership (PPP) models for infrastructure development, creation of a national portal to monitor and track development and adoption of emerging technologies, expediting the roll-out of smart cities, finalising the Personal Data Protection (PDP) bill, drafting an IoT policy and implementation of a national programme on AI will accelerate the adoption of digital technologies in the country. Additionally, in the long term, the domestic manufacturing for telecom equipment and fibre can be given a boost through direct tax incentives for reducing manufacturing cost, formation of special economic zones, increasing export incentives
Investments: To promote investments in the sector, the government should create Special Purpose Vehicles (SPVs) to support international lending organisations and provide substantial investment into digital infra projects at cheaper interest rates
Spectrum: As the country is gearing up for 5G, it is critical that the additional spectrum should comprise a mixture of coverage (i.e., lower frequency) and capacity (i.e., higher frequency) bands to ensure that networks can provide high speed, cost effective services in rural and urban areas
Easing the financial burden of the sector: With the total levy of between 29 and 32 per cent in the form of GST, licence fee and spectrum usage charge (SUC) on the telecom sector, there is a clear need for levy rationalisation. The Universal Service Obligation Fund (USOF) contribution and SUC could be reduced to three per cent and one per cent respectively, to make the sector competitive. Further declaration of a three-year moratorium on spectrum payments to the government with abeyance on interest charge, refund of accumulated unutilised input tax of USD4.24 billion are some of the other demands of the debt-laden sector. The government could also consider doing away the levy of GST on government payments such as LF and SUC
Ecosystem: Incubation hubs and accelerators along the lines of the Atal Incubation Centres (AICs) can be established, additional funding mechanisms like the VC funding scheme and Startup India which provide grant funding to emerging tech start-ups to facilitate their operation and business could be started, as well as the adoption of a sustainable and transparent pricing model