Category: NEWS

  • Yes Securities says “We Love Wonga”

    Yes Securities, in partnership with RedFM, has announced the launch of “We Love Wonga!”, an initiative aimed at enhancing financial literacy among the youth, particularly Gen Z.

    Said Amit Bhandare, Head of Marketing and Corporate Communications, Yes Securities India Limited: “Cultivating financial literacy among today’s youth is paramount for shaping a generation of empowered decision-makers. It’s not merely about building wealth; it’s about instilling confidence and resilience in navigating life’s financial landscape. Through “We Love Wonga!” we aim to equip young individuals with the knowledge and tools to make informed choices, setting them on a path towards financial independence and success.”

  • NBDA damns physical manhandling of ITV correspondent

    The News Broadcasters & Digital Association (NBDA) has strongly condemns the incident involving the physical manhandling of Shiv Prasad Yadav, an iTV Correspondent, by political party workers during the Nyay Jodo Yatra in Rae Bareli.

    Notes a communique: “Such incidents involving physical harm to journalists are not only unacceptable but are also a direct attack on the media’s freedom of speech and expression,” adding: “NBDA unequivocally states that there can be no justification for manhandling journalists and urges the administration to take immediate action against the erring individuals.”

  • Prime Video revs up marketing campaign for ‘Poacher’

    Ahead of the global premiere of Amazon original series Poacher, the streaming major has unveiled an aggressive marketing campaign. Life-sized installations have been set up in prominent locations across the country.

    Notes a communique: “From oversized faux elephant tusks in glass boxes at prominent locations in Mumbai to highlight the scale of the issue, to elephant crime scenes in Mumbai, Delhi, and Bengaluru, the service has been successful in creating conversations about the issue of wildlife crime, to strongly convey that – “Murder is Murder”- be if of a human, or an animal. The elephant crime scenes are located in areas such as Mumbai’s Bandstand and Powai, Delhi’s Janakpuri and Saket, and Bengaluru’s Shantiniketan.”

  • Instagram’s Creator Marketplace to make things easier

    Instagram has announced that it is taking its creator marketplace to eight new markets. Over the next few weeks, we plan to invite creators and brands based in India, Canada, Australia, New Zealand, UK, Japan and Brazil to join Instagram’s creator marketplace. Chinese export brands will also be invited to connect with onboarded creators in countries outside of China.

    Notes a communique: “Brands have told us it can be challenging to source creators for partnership ads. That’s why we’re excited to begin testing in the US our brand new, machine learning-based recommendations that use Instagram data to help brands more easily discover creators who are the best fit for their campaigns. Eligible brands can access these recommendations over the coming months on Instagram’s creator marketplace in Meta Business Suite,” adding: “Instagram’s creator marketplace can help brands easily find relevant creators for any kind of collaboration, but one of the most powerful is partnership ads. Partnership ads (formerly known as branded content ads) allow advertisers to amplify content with a creator or other partner’s handle to scale their collaborations. Partnership ads are the most performant and transparent way for advertisers and creators to run ads together and Instagram’s creator marketplace helps brands discover creators to partner with.”

  • ASCI & Consumer Affairs min speak with stakeholders on surrogate ads

    The Advertising Standards Council of India (ASCI) and the Department of Consumer Affairs (DoCA) had an interactive consultation on February 22, 2024 in Mumbai, focussed on industry stakeholders operating in restricted categories such as alcohol, tobacco, and gambling. The primary objective, notes a communique, was to “address the pervasive issue of surrogate advertisements and to facilitate discussions on overcoming associated challenges, aiming to establish rigorous adherence to advertising regulations and guidelines within these sectors”

    Over the last three years, ASCI has also reported 1085 cases of advertisements that were in direct violation of law to both central and state regulators. 765 of these were illegal betting ads and 320 were direct liquor advertising.

    The consultation underscored key discussion points;

     

    There should be a clear distinction between the brand extension and the restricted product or service being advertised:

      • the story or visual of the advertisement must depict only the product being advertised and not the prohibited product in any form.
      • the ad must not make any direct or indirect reference to prohibited products.
      • the ad must not contain any nuances or phrases promoting prohibited products.
      • the ad must not use colour, layout, or presentations associated with the prohibited products.
      • the ad must not use situations typical for promotion of prohibited products when advertising the other products.

    During the discussion,  Rohit Kumar Singh, Secretary, Department of Consumer Affairs, said: “Surrogate advertisements that promote products in restricted categories undermine consumer rights and can have serious implications. There is a pressing need to halt the proliferation of surrogate ads across industries. If respective prohibited industries fail to adhere to this guideline and comply with existing laws, more stringent actions will be implemented. We are committed to working collaboratively with all stakeholders as we navigate through this evolving issue. We look forward to providing all assistance to ASCI in examining this issue and building a comprehensive framework to protect consumers.”

    Underlining the critical need for action against surrogate ads, Manisha Kapoor, CEO and Secretary General, ASCI, added: ” Surrogate advertisements are in breach of the law, as are direct ads in restricted categories. It is important that the distinction between permitted brand extensions and surrogate advertising are clearly defined and complied with. ASCI has been vigilant in processing surrogate advertising, as well as reporting direct advertising to appropriate regulators. We would like to support various regulators such as DoCA and relevant state excise authorities in addressing this pressing issue. Together, we aim to effectively eliminate deceptive advertising practices.”

    As per a communique issued by ASCI, the consultation between DoCA, ASCI, online gaming associations like All India Gaming Federation and E-Gaming Federation, pointed out the immediate need to stop such advertisements. “Indian online gaming industry, paying taxes and registered in India are feeling the brunt of illegal advertisements and promotions by Offshore gaming platforms. The discussion also focussed on the rampant use of celebrities in the ads of prohibited products which needs to be controlled,” it noted.

    Representatives from government bodies, including the Central Board of Film Certification (CBFC), Ministry of Information and Broadcasting (MIB) and Trademark Authority, shared their views on how to regulate such surrogate advertisements.

  • Adani Stake Buy of NDTV | Indrani Sen: 8/23!

    Indrani SenBy Indrani Sen

     

    The last week was unusually busy for the Indian TV industry. The week began on Monday, August 22, 2022 with TV Industry honchos speculating about the growth in TV AdEx in H2, while the big four got ready for the final fight for the ICC TV and Digital rights. On Tuesday, August 23, our TV industry saw its first hostile bid for takeover of NDTV by Adani group and the ripple effect of the news went vibrating through the nation and across all news media for rest of the week.

     

    Like 9/11 has become an unforgettable date in the world history, 8/23 will become an unforgettable date in the history of Indian journalism. The news of SPN acquiring TV and Digital rights of US Open, which was announced on Thursday, August 25, went almost unnoticed as we were all busy in figuring out about the legitimacy of the Adani takeover bid. Finally, the news of Disney Star retaining the ICC TV and Digital rights for India till 2027 came on Sunday, August 28, 2022 ending all discussions on that front.

     

    The speculations on the takeover bid of NDTV by Adani are alive. There is no doubt that the move by Adani was pre-planned and well-researched with calculated objectives in mind.  As a well-wisher and regular follower of NDTV channels, I would be extremely happy if this attempt to strangulate NDTV news channels who dared to criticise the present government does not succeed, but from whatever information I have gathered over the last week, talking to various people in the industry and reading various reports, the chances of RRPR coming out unscathed from this entanglement does not seem to be good.

     

    If we try to plot the happenings related to the NDTV takeover bid by Adani during the last week, we find that Advani group’s subsidiary AMG Media Networks Limited (AMNL) acquired Vishvapradhan Commercial Private Limited (VCPL), which was indirectly owned by Mukesh Ambani’s Reliance Enterprises. Almost immediately Adani Group announced their intention to take over indirectly 99.5% stake in RRPR Holdings Pvt Ltd, the promoting company of NDTV, which will give them 29.18% equity shares in NDTV on August 23. RRPR was asked to transfer the shares within two working days. In the same announcement an open offer was made to buy up to 26% of NDTV’s shares from the market.

     

    NDTV management issued an internal circular the same evening claiming that the acquisition was not valid as it was done without their consent or any prior notice.  Subsequently letters have been exchanged between RRPR and VPCL raising the issues of giving prior notice/ getting consent of the promoters as well as prior approval from SEBI for transfer of the shares, both of which have been rejected by VPCL. Adani Enterprises issued a statement on August 26 claiming that SEBI’s approval was not required as RRPR was not a party to SEBI’s order issued on November 27. NDTV on the other hand, cited an order by SEBI which bans both the promoter-directors, Radhika Roy and Prannoy Roy from accessing and dealing in securities for two years and has expressed their inability to transfer the shares immediately to VPCL.  However, the period of that ban will end on November 26.

     

    The route cause of this trouble seems to be a huge unsecured loan of Rs 400 + crore which was taken by RRPR in 2009 from VCPL. Why the promoter-directors needed such a huge loan is another story and will require another article. The loan agreement apparently gave an option to VCPL to convert the loan to equity shares. The details of the small prints of the agreement, like if VCPL was required to give a prior notice to RRPR or get their consent before exercising their rights of conversion are not known. Legal experts in the media industry are of the opinion that NDTV is currently buying time but their chance of thwarting the takeover bid depends on any loophole which Advani group might have overlooked in their hurry to acquire VCPL. However, that is a remote possibility.

     

    The money trail interestingly goes back to Mukesh Ambani-owned Reliance Enterprises as VCPL in turn borrowed money for financing the loan to RRPR from Shinano Enterprises in the form of another unsecured loan in the same financial year. Shinano Enterprises was co-owned by Teesta Retail Private Limited, which was wholly owned by Reliance Industrial Investments and Holdings Limited. In 2012 the ownership of VCPL changed and two companies Nextwave Televenture Private Limited and Skyblue Buildwell Private Limited linked to the Reliance group became its owners. As per current market information VCPL was wholly owned by Nextwave Televenture Private Limited till AMG Media Networks Limited (AMNL) acquired it last week. However, no move was made by the Reliance group to take over NDTV by exercising the warrant as per the loan agreement during the last ten years since 2012 though they increased their stakes in media industry during this period. A complex deal of acquiring Network18 Group by Reliance Group was concluded in 2014.

     

    NDTV shares which were not doing well in the market have got a boost after the takeover bid by Adani Group. The private shareholders currently may not accept the offer made by VCPL for selling their shares as the price is below the current market price. An upward revision of the price may tempt them to accept VCPL’s offer which will give Adani group the majority share holdings of NDTV. In that case NDTV will not be the same media brand and Adani Group will have to deal with practically a new launch which is not in line with a successful bid for taking over any ongoing business.

     

    References:

    https://economictimes.indiatimes.com/markets/stocks/news/what-d-street-analysts-said-on-adanis-hostile-takeover-bid-for-ndtv/articleshow/93751027.cms

    https://www.usnews.com/news/top-news/articles/2022-08-25/takeover-of-ndtv-by-indias-richest-man-worries-journalists

    https://www.thequint.com/explainers/gautam-adanis-2918-percent-ndtv-takeover-

    https://www.capitalmind.in/2022/08/adani-ndtv-not-quite-takeover/

    https://edition.cnn.com/2022/08/24/media/adani-ndtv-channel-takeover-bid-hnk-intl/index.html

     

  • Indrani Sen on D K Bose: Caring, Passionate, Awesome

    By Indrani Sen

     

    Ad industry veteran Dwipal Kumar Bose, known as DK expired suddenly due to a huge heart attack on early morning of October 9. Bose was 76 years’ old and had over 50 years of experience in the industry across Media Planning, Social & Rural Marketing and Advocacy Research.

     

    After graduating from Elphinstone College in Mumbai, he started his career with S.H. Benson, the parent company of Ogilvy. He rose in ranks while working in Mumbai and Kolkata offices of Ogilvy (O&M) during the 70s and early 80s and joined HTA (JWT) Delhi as Media Director in 1984. He shifted from media to social and rural marketing first as head of Thompson Social, India’s first Social Communication Agency and subsequently worked with RK Swamy BBDO and Ogilvy Outreach. In this time, Bose trained many Media Planners and Social and Rural Marketing Executives, who later attained important posts in the industry. After his retirement from the industry, Bose has been working as an advisor and strategist in the area of Behavioural Change Communication in the area of health and primary education. His LinkedIn profile described him as “Margdarshak and advisor on Rural and Social Marketing”. He was a Founder Trustee for Centre of Advocacy Research for 20 tears and was awarded with the Lifetime achievement award from Rural Marketing Association of India.

    Bose taught at IIMC as visiting faculty for many years and currently was associated with IIM Lucknow and Kozhikode and Jamia Milia University as visiting faculty. Early this year, he published his autobiography “Life Unstoppable: Making Challenges Work for you” as an e-book on amazon. Bose loved travelling to interior India and to the small towns and villages of Himalayas and he breathed his last during his sleep at McLeod Ganj surrounded by the hills he loved. Bose will be remembered among his friends and associates for his caring nature, his passion for learning and teaching and his awesome energy.

  • Artificial Intelligence: The Road Ahead

    Artificial Intelligence: The Road Ahead

    Kunal SinhaInvestor enthusiasm for artificial intelligence (AI) soared to unprecedented heights last week, fuelled by remarkable performance from chipmaker Nvidia, which propelled stockmarkets across three continents to historic highs. The surge, commencing on Thursday and extending through Friday, saw Nvidia surpass Google’s parent company, Alphabet, to claim the coveted position of the third most valuable company in the US, boasting a market capitalization of $2 trillion, second only to tech giants Microsoft and Apple.

    Nvidia’s significance in the AI landscape cannot be overstated.

    The company produces chips essential for training and operating AI systems, facilitating rapid data processing crucial for applications like chatbots. As demand for such infrastructure skyrockets with major tech players entering the AI arena, and with consumer interest in AI-driven products like ChatGPT and Midjourney surging, Nvidia’s robust performance underscores the thriving demand for AI technology, inevitably attracting the attention of investors.

    The artificial intelligence (AI) boom has raised many questions, not least over safety and the impact on jobs, but there are also concerns that it might be driving unsustainable market exuberance.

     

    What do consumers think of AI?

    Consumers are still in a wait-and-watch mode with respect to AI, with feelings
of both awe and distrust.

    This is driven by the concern that it could replace
a human they can connect with. The desire for human connection reflects in their channel preferences, too – with most still preferring to interact with human channels over digital, especially for high-stakes tasks like resolving an issue with a bill, and switching to digital for simpler, transactional activities like checking an order status. Human interaction remains a top choice when considering aspects of decision-making, customer support, and returns or cancellations.

    There is also enthusiasm. Around 57% Indian consumers would prefer using Artificial Intelligence (AI) tools rather than to engage in human interaction while looking for products and services online, findings of a recent Adobe survey reveal. Recent research by Qualtrics tells us that 73% of consumers are fine interacting with AI is getting status updates on an order placed; and 48% of people are comfortable interacting with an organisation/ brand’s AI.

     

    Where are businesses with AI adoption?

    While shoppers try to work out exactly what to think of these technologies, the businesses that move quickly to incorporate AI and new data strategies into their operations will be best poised for success. In the early days of gen AI, it feels a lot like giving a toolbox to every employee and allowing them to experiment with what they could build, and possible gains in productivity and cost. As business use cases become clearer, we should be able to see how brands discover opportunities to drive innovation.

    Offering a consistent and accurate customer support experience is one of the main challenges which businesses face.
This is where businesses in India are still in the early stages of AI deployment.

    Only 15% Indian brands are leveraging generative AI to enhance customer experience (CX) initiatives compared to 18% globally.

    41% of Indian brands are seeing CX as a business priority today.

    87% of Indian brands are prioritizing CX enhancements over other business goals.

    76% of brands already have or will pilot GenAI solutions to support CX.

    Overall, 53% of Indian brands want to improve GenAI capabilities in the next 12 months.

     

    Bridging the gap between intent and action is going to be a priority in 2024.

    As consumers go from making a purchase to resolving an issue online, the customer journey often breaks down –
with satisfaction 22 % points lower compared 
to making a purchase.

    AI and Customer support

    For companies that get digital support right,
there are significant rewards. One study found customers are 2.7X more likely to return after a positive digital support experience — the highest of any channel and journey studied.

    Marketers must look to AI to empower their frontline teams with the tools, time, and insights to build stronger connections with customers and make that a better experience, too.

    While AI will undoubtedly help businesses make simple, repeatable tasks more efficient – something consumers welcome -
an effective AI strategy is not simply deploying more chatbots and automating tasks.

    Blinkit, the quick commerce platform of Zomato has introduced a new feature called ‘Recipe Rover’ driven by the most popular AI models ChatGPT and Midjourney. Recipe Rover displays multiple recipes related to the food items which the customer searches for in the app. The company also plans to integrate generative AI into product photography, customer support, etc. Zomato’s massive customer database can be effectively deployed to create more customer-friendly features in the future.

    Using data to predict customer needs

    Data will dictate how to best use gen AI – for both customer and business needs. While businesses are still in
the experimental phase, the push to monetize gen AI investments and quantify their value is becoming stronger. Leading that charge are decisions around how to use valuable internal data to maximize the value that generative AI is creating.

    AI’s predictive power enables brands to get ahead of customer needs through analytics of behaviours, interactions and preferences. It identifies subtle shifts that human analysis alone could miss, such as churn risk, service issues, up-sell opportunities or optimal times for engagement.

    These insights allow brands to engage contextually at just the right moments. Inevitably, while booking a flight ticket, the AI nudges me to book travel insurance as well. It makes excellent recommendations for hotels at the destination, often offering up significant discounts.

    Identifying customer needs through prediction is just the first step, though.

    Leading insurance tech company Policybazaar has been using AI tools for fraud detection using an AI-based risk framework that checks for liveliness and avoids deep fakes. It also uses AI tools for motor vehicles inspection where the customer can make a video of the vehicle and upload it while the AI does the damage assessment.

    The company has also developed predictive AI for voice to text conversion which can be used to gather consumer data and be used to assess consumer behaviour.

    Firing up Contextual Personalisation

    Companies that grow faster drive 40% more of their revenue from personalisation, according to a report by McKinsey & Company. But tailoring engagement across channels and customers is enormously difficult. AI systems can take individual customer insights and orchestrate relevant cross-channel personalisation at scale. The result is a tailored, proactive experience for every customer.

    When you think of your best customer experience, you realise that the brand seemed to truly understand and cater to you – personalised engagement is the magic behind this experience. It’s impactful, and it matters. It not only elevates the customer experience but also results in better business growth, because they return and keep ordering.

    An e-commerce platform can use real-time behavioural analysis to recommend products to a user based on their current browsing pattern. When a user looks at sports shoes, the platform can immediately recommend relevant products, such as sports socks or training equipment. This immediate, relevant personalisation improves the user experience, leading to greater engagement and potential conversion.

    With 62% of consumers comfortable booking an airline ticket through AI,

    MakeMyTrip, one of India’s leading travel booking companies has collaborated with Microsoft to use generative AI to introduce voice-assisted booking in Indian languages. It helps users by offering personalized travel recommendations based on their preferences, curating holiday packages and booking them.

    Being mindful of privacy

    While AI offers immense potential, it also brings significant risks if ethics and consumer privacy are neglected. Around 59% Indians do not feel positive about buying from a brand that isn’t transparent about the use of their personal data.

    To maintain ethical integrity, brands must establish clear guidelines for unbiased, transparent and privacy-focused use of customer data. Rigorous testing is essential to eliminate bias in predictive algorithms.

    There are three essential steps that companies can take to find the sweet spot between personalisation and data privacy.

    • Only collect data that’s essential to creating a better customer experience. Begin with the experience you want to deliver and then define the data required to deliver it.
    • Allow your customers to customize their experience. Let them choose how much personalisation they want and how much of their data they are happy sharing.
    • Be transparent about how their data will be used. Once they understand that, they will be more likely to share their data willingly.

    In a nutshell, think of AI as the neighbourhood chacha (uncle) at the kirana (mom- and-pop) store. They have all your weekly transaction data. They know everything about you and your family. And they use that information to give you personalised, unmatched customer service, while maximizing their profit.

    Pretty basic, right?

     

    Kunal Sinha is a senior strategy and foresights executive based in Jakarta, Indonesia. He is the author of several books including The Future of India’s Rural Markets and Raw – Pervasive Creativity in Asia. He writes for MxMIndia every other Monday. His views here are personal.

  • Talented creates ad series for HomeLane

    HomeLane, the interior solutions brand, has embarked on a creative journey with Talented to unveil a two-part ad series (together with UBIK Films and directed by Surjo Deb) that it hopes will “redefined traditional home decor advertising by taking a commonplace metaphor very literally”.

    Said Aarushi Periwal, Creative and Founding Member at Talented: “The films are nothing but an unvarnished glimpse into a homeowner’s worst nightmare. They are completely familiar, and yet entirely foreign. They depict reality not as it is but as it appears in the minds of these homeowners. Hence, to make them feel painfully relatable, showing both the pretty and pretty ugly sides of home interiors became tantamount. The only guardrail was to make this campaign memorable. ‘Sar khana’ and ‘Topi Pehnana’ is the start of a creative device that we hope the brand can own,”

  • Zee Entertainment forms Independent Advisory Committee…

    The Board of Zee Entertainment Enterprises Ltd (ZEEL) has approved to constitute an Independent Advisory Committee that, it notes in a statement, will enable it to review and take cognisance of the widespread circulation of misinformation, market rumours, and speculation that has led to the formation of negative public opinion about the company and consequent erosion of investor wealth.

    The committee will be presided by Dr Satish Chandra, a former Judge of the Allahabad High Court, and will comprise two independent directors of the company, Uttam Prakash Agarwal and P V R Murthy.

    Notes a communique: “The committee will independently provide guidance on the measures and future course of action that the Board is required to take in order to protect the interests of all the stakeholders of the company. The Board will seek expert guidance of the committee on the aforementioned matters from time to time.”

  • Mixed Route Juice wins mandate for JungleBerry

    Mixed Route Juice, a marketing agency, has announced that it has won the mandate for JungleBerry, a player in the organic and all-natural lifestyle sector. A campaign has also been shot.

    Said Amrita Sharma, Founder at Mixed Route Juice: “The concept behind the campaign is to convey the inherent goodness of JungleBerry’s products through a visually striking and authentic representation. Nature is the ultimate source of beauty, and our collaboration with JungleBerry aims to celebrate that in a way that resonates with consumers. Advertising needs to be honest. With this campaign, we wanted to show the world the truth in our products. Simply put, the DVC works like a cross between a behind the scenes montage, testimonial and proof of work video.”

    Added Nitin Dhawan, Co-founder of JungleBerry: “We are delighted to collaborate with Mixed Route Juice for this campaign. Their creative approach and dedication to highlighting the natural goodness of our products align perfectly with JungleBerry’s ethos. We believe this collaboration will resonate strongly with our audience.”

  • Star Sports is broadcaster for Legends Cricket Trophy

    The Legends Cricket Trophy, the premier cricket extravaganza uniting iconic players (as in old favourites) has announced Star Sports as its official broadcast partner for the tournament set to take place from March 8 to 19 in Sri Lanka.

    Spanning over 12 days, the 90-ball format tournament will feature seven teams competing in 22 matches starring legends like Chris Gayle, Yuvraj Singh, Harbhajan Singh, Aaron Finch, Suresh Raina, Robin Uthappa, Ambati Rayudu, and TM Dilshan, among many others, in action once again.

    Commenting on the association, Shavain Sharma, Director, of Legends Cricket Trophy, expressed enthusiasm, stating, “We are thrilled to have Star Sports on board as our broadcaster for the upcoming tournament. With their extensive reach and expertise in sports broadcasting, we are confident that they will bring the excitement and drama of the Legends Cricket Trophy to cricket fans across the world.”

    Added Harry Griffith, Executive Director, Syndication and Acquisition – Sports, Disney Star: “We are thrilled to announce our association with the Legends Cricket Trophy. At Star Sports, we take pride in offering cricket fans unparalleled experiences and unforgettable moments. With this tournament, featuring top-notch legends and cutting-edge broadcast technology, we aim to elevate the viewing experience through our distinctive storytelling and programming.”