MediAvataar's News Desk
Excerpts from the Theme Address at CII Big Picture 2018 given by Sudhanshu Vats – National Committee on Media & Entertainment and Group CEO & MD – Viacom18.
Namaskar ladies & gentlemen, many thanks for investing your valuable time with us at the CII Big Picture Summit. It is my privilege to host all of you, over today and tomorrow to discuss, debate and deliberate on the rapidly changing media and entertainment landscape in this country.
The first CII Big Picture event I attended was in 2012, I believe it was also the first edition of the event. As a regular learner at these events, I can say with utmost certainty that a lot of the issues we discussed back then – ambitious revenue targets, radio auctions, TV measurement, digitization and so on – a large chunk of it – while still relevant – are in various stages of development today. And that’s only fair – such is the nature of the beast we ride. Also, this trend of convergence and consolidation – the 2 ‘Cs’ – is a universal one – taking place all over the world. That brings me to the theme of this edition of Big Picture – from convergence to transformation.
This is an interesting thought, convergence is a reality – one that is here to stay. It’s being driven by consumer needs and industry’s response to those needs – meaning that it’ll be a long-lasting phenomenon. Transformation is a much bigger – and more daunting – phenomenon. That said, what do we mean by ‘transformation’? It’s a big word. I’m going to do what my professor at university used to do when we asked her the meaning of a ‘big word’ – throwback 2 bigger words – MORAL DILEMMAS.
On a serious note, I want to take this precious opportunity to share a point of view that may not make headlines like aggressive industry targets do, but is, in my humble opinion, even more important.
If you step back and introspect about all that is happening with our industry across the world, you will agree that we are battling several changes - and most of them are a result of moral dilemmas and our response to them. If we can tackle these dilemmas successfully (and defining success is the hardest part), we can believe that we have transformed.
Interestingly, our rich cultural heritage is a treasure trove of insights when it comes to handling moral dilemmas. I recently had a young director from the South approach me with what he called was a ‘modern adaptation of the Mahabharata – told from the perspective of the Kauravas’. It was an interesting thought and we’re testing it - but that’s beside the point. We all know about Dharamraj Yudhishtira and his half-lie – when he told Drona - on Krishna’s counsel - that Ashvathama is dead. Yudhishtira was referring to an elephant who had died in battle – knowing that Drona would mistake Ashvathama to be his son of the same name. On hearing that ‘Ashvatahama is dead’, Drona put down his arms and was killed by Dhrishtadyumna. Was Yudhishitra right in doing what he did? It’s a debate that divides many till date.
I gave this example to showcase the greyness of moral dilemmas. Let’s look at our industry and the moral dilemmas we will have to face or are facing –
· How do we deal with the power we have? What do we do if we find out that our reach and credibility is being used to influence electoral processes across the world?
· How do we ensure fairness in the terms of availability of our content to our consumers and parity across distribution platforms? Especially in a foreseeable future when convergence is going to dial up vertical integration across value chains.
· As consumption moves online, our access to data will increase. In many ways, data will be a competitive advantage and drive advertising revenues and personalized user experiences – what processes do we put in place to ensure it is not misused – how and where do we draw the line differentiating personalization versus privacy?
· Human resources – our people- are our biggest asset – on screen and off it – how do we react when their individual, personal behaviour questions the fabric of the society we want to create? Think of this especially in light of the recent issues around diversity and inclusion that we’ve experienced. It’s important for everyone, but especially so for our industry.
The list of moral dilemmas is endless. We need to be cognizant of these dilemmas – as organizations, industry bodies, policymakers and governments - as we look to scale up our businesses.
I’ve always been an ardent supporter of data and its importance in driving decision making. In this address, I have not used a single data point – because I believe that the course we take over the next decade will be determined more by these fundamental issues of values and how we tackle moral dilemmas than just commercial considerations. Driving consensus will be difficult yet more important than ever before. This is even more so given that India is today amongst the world’s largest ‘open’ media markets and home to a multitude of players from all over and of all sizes.
Yudhishtira had to spend a day in hell to make up for his half-lie. He was willing to spend a lifetime there to atone for his sins. I’m not sure that we are as brave as him. We must tread carefully, follow our dharma in the toughest of times and be patient. Only then will we have truly transformed.
The marquee property honoured the top honchos of the Digital Marketing industry who have paved the path through their vision and innovation
moneycontrol, India’s No.1 leading financial and business media platform along with Internet and Mobile Association for India (IAMAI) hosted the fourth edition of the Digital Marketers' Awards (DMA). The awards were conceived with an aim to recognize the the spectacular ideas and brilliant minds of the brand custodians, elite marketers and creative honchos who have made outstanding contribution towards groundbreaking advancements and rose above their peers.
Setting the wheels in motion for the evening, the event commenced with an engaging panel discussion between Gautam Shelar, Business Head, Moneycontrol, Suman Srivastava, Founder & Innovation Artist, Marketing Unplugged, Shamsuddin Jasani, Group MD, Isobar, South Asia, Adhil Shetty, CEO, BankBazaar.com moderated by Anant Rangaswami, Editor of MELT on WION, advisor to Unmetric ‘Digital transformation through new innovations: A complete road map’. This was followed by a keynote address by Himanshu Vyapak, Deputy CEO, Reliance Nippon Life Asset Management Limited (RNLAM).
This year, the awards honored path-breaking marketers across banking, digital business, FMCG & consumer durables, automobiles, healthcare, travel, insurance, IT, retail, personal finance & investments, real estate, Most Popular CMO of the Year as well as Best Digital Personality of the Year. The prestigious jury panel chaired by CVL Srinivas, Country Manager, WPP India, comprising of esteemed members like Amit Sharma, Senior VP and Head - Digital & Ecommerce, Max Life Insurance, Prasun Basu, President, South Asia, The Nielsen Company, Anuradha Narasimhan, Consultant, Scripbox.com, Rohit Raj, Co-Founder, Chief Creative Officer, The Glitch, Dolly Jha, Executive Director, Nielson India, Chaaya Baradhwaj, Founder & Managing Director, BC Web Wise and Suman Srivastava, Foundation and Innovation Artist, Marketing Unplugged helped arrive at the big winners of 2018.
The digital sphere has grown exponentially and the event payed a fitting tribute to the force behind the domain’s unprecedented expansion. Amidst the presence of other luminaries, renown actor Varun Dhawan was also awarded “Best Digital Personality of the Year” to acknowledge the widening digital influence he possesses.
Commenting on this edition of the awards property, Mr. Manish Maheshwari, CEO, Network18 Digital said: “Digital Marketing has become one of the most integral and effectual tools today. India is become a vital instrument in driving the world economy, and the digital industry has an undeniable role to play. As we move forward in era of the 4th industrial revolution, disruptive technology have become the way forward. With this edition we aimed to not just celebrate the medium but also those bigwigs who have utilised innovative and creative digital tools to get through to their target audience. As the leading digital platform for financial information, it is befitting for moneycontrol and IAMAI to come together and undertake such an initiative to applaud the pioneers of the industry.”
Gautam Shelar, Business Head, moneycontrol remarked, “The Indian digital landscape houses some exceptional minds that have played a key role in its expansion. There has been an augmented growth in the digital sphere, which has fuelled the level of competition in the industry through differentiated offerings. As one of the early pioneers in the digital industry, we wanted to honour the game changers in the Digital Marketing industry by highlighting the strongest performers of the year. With time, the awards have evolved into one of the most premium platforms that brings together the ingenious minds of the industry who have achieved great heights by adopting effective digital strategies.”
Online video and paid search are driving the growth in global adspend, as advertisers focus on personalised and targeted communications, according to Zenith’s Advertising Expenditure Forecasts, published .
With advertisers now able to use these channels to target with pinpoint accuracy and serve personalised messages, they are increasing both the efficiency and effectiveness of campaigns. Between 2018 and 2021, online video advertising will grow at an average of 18% a year, twice as fast as other forms of internet display advertising and well ahead of any other channel.
E-commerce advertising is poised to transform the advertising market in much the same way that paid search did in the last decade,”
Paid search is not growing as quickly in percentage terms – it will grow at an average of 7% a year over this period – but in dollar terms will contribute even more to global growth than online video. The application of AI techniques, better location targeting, integration with commerce and the rise of ‘in the moment’ search are all making search more effective for advertisers. We forecast that between 2018 and 2021, online video advertising will grow by US$20bn, while paid search will grow by US$22bn. Between them these two channels will account for 60% of the extra ad dollars added to the market over this time.
Online video and television are more important to brand-building than ever
Advertisers commonly use online video together with traditional television, combining television’s broad reach and immersive experience with online video’s ability to target and optimise frequency. Taken together, these two media are becoming more important to advertisers’ brand-building campaigns. Their combined share of adspend in ‘display’ media (i.e. all media except paid search and classified advertising) has risen from 46.2% in 2012 to 48.4% this year. By 2021 we expect television and video to have a combined 48.8% share of global ‘display’ – a higher share than television ever achieved on its own. Taken together, television and online video are working harder for advertisers than ever before.
Global e-commerce advertising starts to accelerate
E-commerce advertising – advertising that sits alongside and within search results and product listings on e-commerce sites – is well established in China, but is only just starting to get going globally. Zenith believes it has the potential to transform the way brands convert customers online, and add about US$100bn of new money into the global advertising market.
E-commerce advertising has risen from 0.8% of all adspend in China in 2009 to an estimated 18.2% this year, driven by investment by companies like Alibaba in turning e-commerce into advertising revenue. Until recently, e-commerce platforms outside China have largely focused on direct sales to consumers at the expense of advertising, but that is now changing. Amazon generated nearly US$5bn in advertising revenue in 2017 as a whole, and in Q3 2018 its ad revenues grew by 122% year on year. Other shopping platforms are following suit by investing in their own advertising activities.
Globally, e-commerce advertising is about as advanced as it was in China at the end of the last decade. Amazon accounted for 0.8% of global adspend in 2017, the same proportion that Chinese e-commerce occupied in 2009. If e-commerce follows a similar path globally to the one it followed in China, it could account for 18% of global adspend by 2027. That’s equivalent to over US$100bn in today’s ad market, representing a huge revenue opportunity for the platforms, and a whole new way for brands to reach customers at the point of purchase. This money typically comes from brands’ commercial teams rather than their marketing teams, from budgets set aside for negotiating with retailers. It is therefore new money to advertising, and should expand the market without cannibalising money spent elsewhere.
Steady growth in global adspend to continue
We estimate that global advertising expenditure will grow 4.5% by the end of this year, boosted by the Winter Olympics, FIFA World Cup and US mid-term elections. Growth will then remain steady and positive for the rest of our forecast period to 2021, at 4.0% in 2019, 4.2% in 2020 and 4.1% in 2021.
Central & Eastern Europe will be the fastest-growing region, with average growth of 6.3% a year between 2018 and 2021, driven by continued strength in Russia, which is growing at 6.8% a year and accounts for 39% of the regional total. Asia Pacific is next, growing at an average of 4.9% a year, or 5.7% a year excluding Japan. India is the stand-out growth market here, growing at 13.5% a year from US$9.7bn in 2018 to US$14.2bn in 2021, when it will become the world’s eighth largest advertising market, entering the top ten for the first time. India has huge potential for further growth, with advertising taking up just 0.3% of GDP, less than half the Asia Pacific average of 0.7%
“Brands are transforming their businesses to take advantages of the new digital opportunities available to them,”
Young advertising markets like India are playing an ever-more-important role in driving global growth in adspend. ‘Mature’ markets – by which we mean North America, Western Europe and Japan – account for 62% of global adspend this year, down from 75% ten years ago. ‘Rising’ markets – by which we mean all markets apart from the ‘Mature’ ones – will contribute 54% of the growth in global adspend between 2018 and 2021, increasing their share of global expenditure from 38% to 40%.
“E-commerce advertising is poised to transform the advertising market in much the same way that paid search did in the last decade,” said Jonathan Barnard, Zenith’s Head of Forecasting and Director of Global Intelligence. “It could bring US$100bn in new money into the market over the next ten years.”
“Brands are transforming their businesses to take advantages of the new digital opportunities available to them,” said Vittorio Bonori, Zenith’s Global Brand President. “Better segmentation and targeting, personalised creative and direct transactional relationship with consumers are combining to drive brand growth.”
Scheduled on December 12th and 13th at NCPA in Mumbai, The India Economic Conclave 2018 is India’s most definitive Economic platform where the best minds shapes India’s $5 Trillion agenda
The world’s most influential business leaders and political helmsmen including Arun Jaitley, Minister of Finance and Corporate Affairs, Piyush Goyal, Minister of Railways & Coal, Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Devendra Fadnavis, Chief Minister – Maharashtra, Trivendra Singh Rawat, Chief Minister – Uttarakhand, David Hanson, Founder & CEO – Hanson Robotics, Arianna Huffington, Founder – Thrive Global & Actor Ranveer Singh amongst others will be participating at the India Economic Conclave 2018
Times Network, part of India’s largest media conglomerate, The Times Group, announces the 5th edition of its annual signature event, India Economic Conclave 2018. Driving this edition’s theme, ‘Shaping India’s $5 Trillion growth agenda’, the two-day conclave will engage, enable and encourage global voices with India perspective through discourses with global visionaries, key policymakers and iconic leaders. With a focus to enable the rapid transformation of India to a global powerhouse, India Economic Conclave 2018 aims to set the tone for constructive dialogues and discussions on the critical points concerning the economy. The landmark event will share the vision and actionable insights to further unleash the true potential of India Inc.
As India progresses to be one of the largest five economies in 2019, India Economic Conclave 2018 celebrates the leadership of Indian economy and will illuminate the businesses opportunities to Rise with India. Present at the event will be some of India’s most influential leaders like Arun Jaitley, Minister of Finance and Corporate Affairs, Piyush Goyal, Minister of Railways & Coal, Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Devendra Fadnavis, Chief Minister – Maharashtra, Trivendra Singh Rawat, Chief Minister – Uttarakhand, Amitabh Kant, CEO – NITI Ayog, Sadhguru, Founder – Isha Foundation, Rajesh Gopinathan, CEO & MD - Tata Consultancy Services, Keki Mistry, Vice Chairman & CEO – HDFC Ltd., David Hanson, Founder & CEO – Hanson Robotics, Arianna Huffington, Founder – Thrive Global, Dr. Mark Mobius, Founder – Mobius Capital Partners LLP, Ralph Simon, Founder & Chairman – Mobilium Global and bollywood actor Ranveer Singh amongst others.
The conclave will provide a platform to initiate dialogues on the future of new India and give shape to its $5 Trillion agenda, with a focus on the benefits to the common man from rising India. The signature event aimed at anticipating, formulating and executing strategies, will witness a series of power packed sessions, which will address issues pivotal to the greater economic growth of the nation.
Aims to catalyse engagement and traffic on Mobile Web & App
Keeping in line with its promise of providing a delightful experience to its consumers, Times Internet's multilingual information & engagement platform, NewsPoint today announced the launch of an unique customer gratification programme. Newspoint Tokens is a virtual currency powered by TimesPoints, that users can redeem for exciting offers at several brand partners including Amazon Pay, BookMyShow, Paytm Travel, ixigo, Myntra, Dineout, Gaana and TimesPrime among others. The reward program will soon add more exciting offers and benefits to its fold.
With a wide variety of services available for redemption, NewsPoint Tokens aims to build more consumer loyalty while adding additional engagement layers to the app.
“We are delighted to announce the launch of NewsPoint Tokens. The program seamlessly integrates with the core experience of the NewsPoint app. Users earn tokens as they read stories and /or watch videos. Further, bonus tokens are awarded for our most loyal users who use the app daily for 7 days or more ” said Ruchir Khanna, Product Head, NewsPoint.
He further added,"This is in line with our aim to drive engagement and consumer loyalty. Over the last one year, Newspoint has witnessed already 5X growth in users and hopefully consumer gratification will allow us to not only keep the reader constantly engage but also provide a wow experience across the NewsPoint platforms."