MxMIndia

Tag: Punit Goenka

  • The winner will be announced on MxMIndia on Friday, December 17, 2021

    So who will be the 2021 MxMIndia Mediaperson of the Year

     

     

    By A Correspondent

     

    This is awards season. From politics, business and films to many, many, many awards in the A&M world. Not just in A&M, in PR communications, content… everything.

     

    But amongst all of this, there’s the MxMIndia Mediaperson of the Year award.

     

    And how are we different:

     

    1. No jury. So no influencing, no lobbying. No accommodation of one person this year, and another the next

    2. No sponsor. No pressure from anyone on who the award should go to

    3. No event. So no pressure of having a chief guest, sponsors for the event, and hence the pulls and pressures on ensuring that the winner is a “saleable” name

    4. Planning through the year. We ensure that those who do well in the end of the year don’t have an unfair advantage as they are top-of-mind

    5. Democratic, albeit partially. We invite nominations from the world, but the decision is ours

     

    Our winners so far:

    2020: The Independent Journalist

    2019:  Sidharth Rao

    2018: Piyush Pandey

    2017: Arnab Goswami

    2016: Ashish Bhasin

    2015: Punit Goenka, Shashi Sinha, Partho Dasgupta for BARC India

     

    So who will it be this year?

    There are a few people who are in our shortlist.

    We received 26 nominations for 12 people and two organisations in response to our call for nominations on October 13.

    So, who will it be?

    Well, it’s going to happen on December 17, 2021.

    It’s a Friday.

    We’ll announce the name by 12noon that day.

    No events. No drama. No tamasha.

    An honest award for the Mediaperson of the Year.

     

  • We invite readers readers to send us their nominations or suggestions of names, on or before Friday, December 3, 2021

    65 Days to MxMIndia Mediaperson of the Year 2021

     

     

    By A Correspondent

     

    It’s October 13, and 65 days to December 17, the day when we will announce the 2021 MxMIndia Mediaperson of the Year.

     

    So who do you think will it be? Will it be a group of people like we had last year, or is there someone or a group of people who could win the award this year. We have a partial shortlist ready, but its still early days. We invite readers readers to send us their nominations or suggestions of names. Nominations are welcome till Friday, December 3, 2021. Please send them directly to pradyuamanm [at] mxmindia.com. Your name and reasons, if any, will be kept confidential.

     

    As our readers are aware, over the last few years, the MxMIndia Mediaperson of the Year has earned the reputation of being the most credible barometer of the highest performer(s) in the fields of advertising, media and marketing in India in a calendar year.

     

    Realising that many award shows are held at the end of the year and hence there is a tendency to only recall and accord importance to those who make an impact in the latter part of the year. MxMIndia instituted a process where we reviewed people and entities through the year by having periodic reviews and compiling the various high performers at the end of June. We didn’t do that too often last year, but this we did.

     

    Last year’s winner of the accolade was the Independent Journalist. In 2019, it was Sidharth Rao for mainstreaming digital in creative advertising. In 2018, it was Piyush Pandey and in the previous year, it was Arnab Goswami for the launch of Republic TV. In 2016, we had Dentsu Aegis Network South Asia CEO Ashish Bhasin and for 2015 it was the BARC India core team of Punit Goenka, Shashi Sinha and Partho Dasgupta. That was the first year we gave away the award, virtually of course.

     

    As we said earlier, this year, the award will be presented online (on MxMIndia) on Friday, December 17, 2021. Wait for it.

     

  • No. While Zee has declined to conduct an EGM, sources tell us the 18 percenters are not going to take things lying down

    What next as Zee takes on Invesco-OFI?

     

    By Our Staff

     

    So will we see a real-life Mahabharata war here? Right now it appears to be that, but in true TV soap style, guess it’s necessary to have some flexing of muscles before Zee founder and chairman emeritus Subhash Chandra pulls out all his trump cards, as he almost always does.

     

    On Friday afternoon, in filings to the stock exchanges, Zee has clearly declined the holding of an EGM, with details in an annexure. The letter addressed to Invesco and OFI concludes:

     

    “At its meeting held on October 1, 2021, the Board considered the Requisition Notice. Earlier, the Board obtained written legal advice from the Company’s counsel as well as independent legal advice from eminent former judges of the Supreme Court and senior corporate lawyers. After considering the unanimous advice received about the legal validity of the Requisition Notice, the Board deliberated, and unanimously concluded that the Requisition Notice is not valid, as it suffers from multiples legal infirmities which are summarized in the Annexure to this communication…. Accordingly, in the best interests of the Company as a whole, including all its shareholders and stakeholders, we express our inability to convene the EGM on the lines requisitioned by you.”

     

    Here’s a link to filing: https://www.bseindia.com/xml-data/corpfiling/AttachLive/4b679cc6-bceb-4b78-a730-8acddc9eeb01.pdf

     

    And this what a statement noted:

     

    This has reference to the requisition notice received by the Board of Zee Entertainment Enterprises Ltd., from Invesco Developing Markets Funds and OFI Global China Fund, LLC. The Board, comprising of experienced professionals deliberated and discussed various legal and statutory implications of the requisition notice.

    The Board sought the opinions of independent counsel, legal experts including senior retired Supreme Court judges and evaluated the matter in a fair and transparent manner. In its meeting held on 1st October 2021, the Board has arrived at a conclusion that the requisition is invalid and illegal; and has accordingly conveyed its inability to convene the Extraordinary General Meeting to Invesco Developing Markets Funds and OFI Global China Fund, LLC.

    The Board has arrived at this decision by referring to various non-compliances under multiple laws, including the Securities and Exchange Board of India Guidelines, Ministry of Information and Broadcasting Guidelines and key clauses under the Companies Act & Competition Act, and after taking into account the interests of all the shareholders and stakeholders of the Company.

    The Company cannot comment on any future actions since the matter is sub judice.

     

    From what we gather, there have been a fair number of attempts made to convince various quarters about how Zee is being wronged. It’s not that the Invesco-OFI aren’t reaching out to the media, but Friday’s development is sure to see lawyer fees as a significant component in the account books of the Zee as well as of Invesco-OFI.

     

    While we had The Times of India front-paging a report on the National Company Law Tribunal diktat on the EGM, there was this interview of RPG Enterprises chairman in The Economic Times that batted for Chandra and Punit Goenka and even spoke of an unnecessary shareholder activism.

     

     

    According to our sources, the Zee founder is making every attempt to ensure that the company he so painstaking created and nurtured doesn’t get out of his hands. The final approval for the Zee-Sony merger would require an ‘aye’ of 75 per cent of ZEEL’s shareholders many of who could work on the guidance of the government.

     

    Meanwhile, we can be sure that the Invesco-OFI camp is not going to sit quiet. First, there is an NCLT hearing coming up on October 4.

     

    Wait for it.

     

    Dear Editor: we think, we need to seriously consider employing a journalist well-versed in company law on our rolls. What say?

  • Even if due diligence may be a formality, there are questions on how some of ZEEL's hostile investors will react

    So will the Zee-Sony merger go through?. Punit Goenka to be Big Boss of combined entity

     

     

    By Our Staff

     

    At any other time, the news that Zee Entertainment will merge with Sony Pictures Network India wouldn’t have been a surprise. But since it’s come in less than two weeks since the public display of hostility of key investors, it took everyone by surprise. Including those who’ve been tracking the sector for a while.

     

    So here’s what we know: the Board of Directors of Zee Entertainment Enterprises Limited (ZEEL) held a meeting yesterday (Tuesday, September 21, 2021) and unanimously provided an in-principle approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL. Sony Pictures also sent us a communique stating this the same.

     

    The question which everyone seems to be asking is how will the two investors holding a significant minority investment of 18-odd per cent react to this. Will they – given their buy of Rs 400 per share and the prevailing rate of Rs 320 (at 1pm today) be happy with the way things are.

     

    Will there be a settlement between Zee, Sony and the unhappy investors? Or will they make life difficult for the powers that be.

     

    And also very importantly, will Zee founder and chairman emeritus Subhash Chandra have a role in the merged entity? The reason for this question is that there were charges by some quarter that despite exiting from an executive role, he continued to steer the company.

     

    The due diligence will start. In the past, we have had some stories about Zee acquiring an FM station network and a music network that have not materialised. But this is different and much larger.

     

    A few years back, Zee unveiled a new identity with the tagline ‘Extraordinary Together’. Will the mega entertainment merchants Sony and Zee indeed be extraordinary together?

     

    Here’s the press release issued by Zee Entertainment:

    The Board has evaluated not only on financial parameters, but also on the strategic value which the partner brings to the table. The Board concluded that the merger will be in the best interest of all the shareholders & stakeholders. The merger is in line with ZEEL’s strategy of achieving higher growth and profitability as a leading Media & Entertainment Company across South Asia. The Board has authorized the management of ZEEL to activate the required due diligence process.

     

    The shareholders of SPNI, will hold a majority stake in the merged entity. The shareholders of SPNI will also infuse growth capital into SPNI as part of the merger such that SPNI has approximately USD 1.575 billion at closing, for use in pursuing other growth opportunities.

     

    Basis the existing estimated equity values of ZEEL and SPNI, the indicative merger ratio would have been 61.25% in favour of ZEEL. However, with the proposed infusion of growth capital into SPNI, the resultant merger ratio is expected to result in 47.07% of the merged entity to be held by ZEEL shareholders and the balance 52.93% of the merged entity to be held by SPNI shareholders.

     

    ZEEL and SPNI have entered into a non-binding term sheet to combine both companies’ linear networks, digital assets, production operations and program libraries. The term sheet provides an exclusive period of 90 days during which ZEEL and SPNI will conduct mutual diligence and finalize definitive agreement(s). The merged entity will be a publicly listed company in India.

     

    As part of the transaction, Mr. Punit Goenka will continue to be the Managing Director and CEO of the merged entity. Further, certain non-compete arrangements will be agreed upon between the promoters of ZEEL and the promoters of SPNI. According to the term sheet, the promoter family is free to increase its shareholding from the current ~4% to up to 20%, in a manner that is in accordance with applicable law. Majority of the Board of Directors of the merged entity will be nominated by Sony Group.

     

    It is anticipated that the final transaction would be subject to completion of customary due diligence and execution of definitive agreements and required corporate, regulatory and third- party approvals, including the votes of ZEEL’s shareholders.

     

    ZEEL’s strong expertise in content creation and its deep consumer connect established over the last 3 decades, coupled with SPNI’s success across entertainment genres (including gaming and sports) will add significant value to the merged entity and its management team, thereby increasing shareholder value multifold.

     

    Speaking on the development, Mr. R. Gopalan, Chairman, ZEE Entertainment Enterprises Ltd. said, “The Board of Directors at ZEEL have conducted a strategic review of the merger proposal between SPNI and ZEEL. As a Board that encompasses a blend of highly accomplished professionals having rich expertise across varied sectors, we always keep in mind the best interests of all the shareholders and ZEEL. We have unanimously provided an in-principle approval to the proposal and have advised the management to initiate the due diligence process.

     

    ZEEL continues to chart a strong growth trajectory and the Board firmly believes that this merger will further benefit ZEEL. The value of the merged entity and the immense synergies drawn between both the conglomerates will not only boost business growth but will also enable shareholders to benefit from its future successes. As per legal and regulatory guidelines, at the required stage, the proposal will be presented to the esteemed shareholders of ZEEL for their approval.”

     

    Under the guidance of the Board, the management of ZEEL, ably led by Mr. Punit Goenka, continues to steadily work towards achieving higher profitability in line with its set goals for the future. With this corporate development, the merged entity will result into an accelerated growth and a significant opportunity to create tremendous value for all its stakeholders.

     

    And here’s the communique issued by Sony Pictures:

    Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) today announced that they have entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, production operations and program libraries.  The non-binding Term Sheet provides an exclusive negotiation period of 90 days during which ZEEL and SPNI will conduct mutual diligence and negotiate definitive, binding agreements. The combined company would be a publicly listed company in India and be better positioned to lead the consumer transition from traditional pay TV into the digital future.

     

    The merger of ZEEL and SPNI would bring together two leading Indian media network businesses, benefitting consumers throughout India across content genres, from film to sports. The combined company is expected to benefit all stakeholders given strong synergies between ZEEL and SPNI.

     

    Under the terms of the non-binding Term Sheet, Sony Pictures Entertainment, the parent company of SPNI, would invest growth capital so that SPNI has a cash balance of approximately USD $1.575 billion at closing for use to enhance the combined company’s digital platforms across technology and content, ability to bid for broadcasting rights in the fast-growing sports landscape and pursue other growth opportunities. Sony Pictures Entertainment would hold a majority stake in the combined company. Current ZEEL Managing Director & CEO Punit Goenka is to lead the combined company. The combined company’s board of directors would include directors nominated by Sony Group and result in Sony Group having the right to nominate the majority of the board members.

     

    It is anticipated that a final transaction would be subject to completion of customary due diligence, negotiation, and execution of definitive binding agreements, and required corporate, regulatory and third-party approvals, including ZEEL shareholder vote.

     

  • As per the arrangement, Punit Goenka to continue as Managing Director & Chief Executive Officer of the merged entity

    Hum Saath Saath Hain. Zee & Sony express interest to merge. Punit Goenka to be Big Boss of combined entity

    By Our Staff

    The Board of Directors of Zee Entertainment Enterprises Limited (ZEEL) held a meeting on September 21, 2021 and unanimously provided an in-principle approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL.

    Here’s the press release issued to MxMIndia and the stock exchanges:

    The Board has evaluated not only on financial parameters, but also on the strategic value which the partner brings to the table. The Board concluded that the merger will be in the best interest of all the shareholders & stakeholders. The merger is in line with ZEEL’s strategy of achieving higher growth and profitability as a leading Media & Entertainment Company across South Asia. The Board has authorized the management of ZEEL to activate the required due diligence process.

    The shareholders of SPNI, will hold a majority stake in the merged entity. The shareholders of SPNI will also infuse growth capital into SPNI as part of the merger such that SPNI has approximately USD 1.575 billion at closing, for use in pursuing other growth opportunities.

    Basis the existing estimated equity values of ZEEL and SPNI, the indicative merger ratio would have been 61.25% in favour of ZEEL. However, with the proposed infusion of growth capital into SPNI, the resultant merger ratio is expected to result in 47.07% of the merged entity to be held by ZEEL shareholders and the balance 52.93% of the merged entity to be held by SPNI shareholders.

    ZEEL and SPNI have entered into a non-binding term sheet to combine both companies’ linear networks, digital assets, production operations and program libraries. The term sheet provides an exclusive period of 90 days during which ZEEL and SPNI will conduct mutual diligence and finalize definitive agreement(s). The merged entity will be a publicly listed company in India.

    As part of the transaction, Mr. Punit Goenka will continue to be the Managing Director and CEO of the merged entity. Further, certain non-compete arrangements will be agreed upon between the promoters of ZEEL and the promoters of SPNI. According to the term sheet, the promoter family is free to increase its shareholding from the current ~4% to up to 20%, in a manner that is in accordance with applicable law. Majority of the Board of Directors of the merged entity will be nominated by Sony Group.

    It is anticipated that the final transaction would be subject to completion of customary due diligence and execution of definitive agreements and required corporate, regulatory and third- party approvals, including the votes of ZEEL’s shareholders.

    ZEEL’s strong expertise in content creation and its deep consumer connect established over the last 3 decades, coupled with SPNI’s success across entertainment genres (including gaming and sports) will add significant value to the merged entity and its management team, thereby increasing shareholder value multifold.

    Speaking on the development, Mr. R. Gopalan, Chairman, ZEE Entertainment Enterprises Ltd. said, “The Board of Directors at ZEEL have conducted a strategic review of the merger proposal between SPNI and ZEEL. As a Board that encompasses a blend of highly accomplished professionals having rich expertise across varied sectors, we always keep in mind the best interests of all the shareholders and ZEEL. We have unanimously provided an in-principle approval to the proposal and have advised the management to initiate the due diligence process.

    ZEEL continues to chart a strong growth trajectory and the Board firmly believes that this merger will further benefit ZEEL. The value of the merged entity and the immense synergies drawn between both the conglomerates will not only boost business growth but will also enable shareholders to benefit from its future successes. As per legal and regulatory guidelines, at the required stage, the proposal will be presented to the esteemed shareholders of ZEEL for their approval.”

    Under the guidance of the Board, the management of ZEEL, ably led by Mr. Punit Goenka, continues to steadily work towards achieving higher profitability in line with its set goals for the future. With this corporate development, the merged entity will result into an accelerated growth and a significant opportunity to create tremendous value for all its stakeholders.

     

    Meanwhile, Sony Pictures Network has issued a communique:

     

    Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) today announced that they have entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, production operations and program libraries.  The non-binding Term Sheet provides an exclusive negotiation period of 90 days during which ZEEL and SPNI will conduct mutual diligence and negotiate definitive, binding agreements. The combined company would be a publicly listed company in India and be better positioned to lead the consumer transition from traditional pay TV into the digital future.

    The merger of ZEEL and SPNI would bring together two leading Indian media network businesses, benefitting consumers throughout India across content genres, from film to sports. The combined company is expected to benefit all stakeholders given strong synergies between ZEEL and SPNI.

    Under the terms of the non-binding Term Sheet, Sony Pictures Entertainment, the parent company of SPNI, would invest growth capital so that SPNI has a cash balance of approximately USD $1.575 billion at closing for use to enhance the combined company’s digital platforms across technology and content, ability to bid for broadcasting rights in the fast-growing sports landscape and pursue other growth opportunities. Sony Pictures Entertainment would hold a majority stake in the combined company. Current ZEEL Managing Director & CEO Punit Goenka is to lead the combined company. The combined company’s board of directors would include directors nominated by Sony Group and result in Sony Group having the right to nominate the majority of the board members.

    It is anticipated that a final transaction would be subject to completion of customary due diligence, negotiation, and execution of definitive binding agreements, and required corporate, regulatory and third-party approvals, including ZEEL shareholder vote.

  • Father Subhash Chandra has weathered several storms, and he could well come out of this one too

    Can Punit Goenka survive the coup?

     

    By Our Staff

     

    Primetime, 9pm, is the beginning of the top-rated shows across all general entertainment channels. It’s the same on Star Plus, Sony, Colors as well as Zee TV. But on Monday, September 13, at Zee, there was a fair amount brewing off-air as well.

     

    Two directors – Ashok Kurien and Manish Chokhani – resigned from the Board. Or so the stock exchanges were intimated. Now, Kurien has been founder Subhash Chandra’s friend, and confidante from even before he set up Zee. Journalists like this correspondent took Zee and Chandra (he would suffix Goyal or Goel in his early days) seriously in the early 1990s thanks to Kurien, then one of the posterboys of Indian advertising.

     

    Chandra started out as a rice trader, and anyone who has been exposed to agricultural trading will tell you that one needs to be very sharp to be able to navigate the vagaries of the business. Media may be dramatically different, but in the days when Chandra was entering the scene, there were many situations to contend with.

     

    One was Rupert Murdoch who wasn’t obviously being kind to Zee which had emerged ahead of his Star network. Chandra wasn’t one to let Murdoch have it easy. But come 2000 and Kaun Banega Crorepati happened as did an assortment of saas-bahu sagas, and Zee lost its numero uno status amongst Hindi general entertainment channels.

     

    In the early 2000s, Zee – which was also a darling of the stockmarkets – saw some trouble with government regulators about the ways the company holdings were structured. Chandra steadily got out of the tangles, and started rebuilding the Empire.

     

    In the meantime, he grew the rest of the network. Investments in regional and news channels, distribution, films and overseas fare ensured that the empire had derisked itself from only flagship Zee TV being the cash cow.

     

    In the early 2000s, Chandra’s sons Punit and Amit got active with the various ventures and eventually headed critical components of the media empire.

     

    It was all hunky dory until many incorrect investments led to the company notching up heavy debts. This resulted in the family being pushed to having a minority holding in the all-important Zee Entertainment. Media and distribution were part of other companies. In early August 2021 though, Chandra wrote an open letter stating that he had 91.2 per cent of his debt with 43 lenders. Also, the balance dues will be settled soon.

     

    Cut to last week, when Bengaluru-based proxy advisory firm, Institutional Investor Advisory Services India (IiAS), raised some red flags on corporate governance issues at Zee Entertainment.

     

    This led Zee Entertainment to file a letter it received from its key investors to the stockmarkets.

     

    The letter started with this: We, Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund llC are shareholders of Zee Entertainment Enterprises Limited and hold, as on the date of this letter, 7,43,18,476 equity shares and 9,73,50,000 equity shares, respectively representing an aggregate of 17.88% of the paid-up share capital of the Company that carries the right of voting.

     

    Invesco and OFI asked for the removal of Punit Goenka, Manish Chokhani and Ashok Kurien as directors, and the appointment of six independent directors.

     

    So will Goenka exit as CEO is the question that’s being asked by everyone. The annual general meeting is scheduled for today, September 14, at 4.30pm. The extraordinary general meeting that the investors have asked for in their mail dated, Saturday, September 11, has not been scheduled so far.

     

    There have been views that Invesco and OFI couldn’t have acted in the way they did without a clear study of the situation.

     

    However, according to industry sources, what turn this entire episode takes will depend a fair bit on how some quarters in the government react. The Subhash Chandra family has 3.99 per cent equity, and other than the 17.88 held by the Invesco and OFI, there are investors like LIC and other financial institutions which could follow the central government’s advisory.

     

    Clearly this is a soap opera that’s going to see some twists and turns for sure.

  • Has been Chairman and Board Member of BARC India in the past

    It’s official. Nakul Chopra to take charge as BARC CEO wef Aug 25

    By Our Staff

     

    Broadcast Audience Research Council India (BARC), the Indian television industry’s audience measurement body has announced that Nakul Chopra will be its new Chief Executive Officer effective August 25, 2021. Sunil Lulla has resigned his remit to pursue his ambition as an entrepreneur.

     

    Interestingly, Chopra was part of the BARC India Board in 2016 and was subsequently appointed Chairman of the body in 2018-19. In January 2020, he was appointed a member of its Oversight Committee. Chopra was CEO, India and South Asia of Publicis Worldwide, for over a decade. He was also President, Advertising Agencies Association of India (AAAI) from August 2016 to July 2018. AAAI is 20% owner of BARC.

     

    Speaking on his appointment, Chopra said: “I have had the benefit of a long association with BARC. The organisation has grown in measure and strength. TV continues to be the definitive screen of the Indian home – its strong reach and connect continues to elicit the trust of advertisers. I look forward to working with the very capable BARC team in further building on TV measurement and continuing the journey toward screen agnostic measurement.”

     

    Sunil Lulla
    Punit Goenka
    Punit Goenka

    Added Lulla: “After four decades of an exciting career in professional services, I now embark upon an entrepreneurial journey. I am privileged to have been able to contribute to BARC and this has been possible only because of the excellent team of professionals, a very supportive Board and the gold standard of Board-appointed committees. I wish Nakul Chopra all the success”.

     

    Said Punit Goenka, Chairman, BARC India, thanking Lulla and welcoming Chopra: “I thank Sunil for his stewardship of BARC and his efforts to enhance the strength of the BARC currency. I am very happy to welcome Nakul as the natural and unanimous choice of the Board for the continuing journey of adding robustness to the BARC currency and strengthening the governance of the world’s largest television audience measurement body”.

     

     

     

  • Until recently CEO of the Board of Control for Cricket in India (BCCI), Johri was associated with Discovery Networks Asia Pacific for 15 years

    Former BCCI boss Rahul Johri joins Zee as President – Business, S Asia

    By A Correspondent

     

    As part of its Zee 4.0 strategy, Zee Entertainment has effected a significant restructuring of its top deck. Punit Misra will take over as President – Content & International Markets, Amit Goenka will take over as President – Digital Businesses & Platforms, Tarun Katial who is leading the ZEE5 India business will continue to report into Goenka, Shariq Patel will be responsible for the integrated movies business and Anurag Bedi will continue to drive the music business.

     

    But the big announcement is the appointment of Rahul Johri as President – Business, South Asia. Johri will be responsible for leading the integrated revenue and monetisation team. Until recently CEO of the Board of Control for Cricket in India (BCCI), Johri was associated with Discovery Networks Asia Pacific for 15 years.

     

    Speaking on these announcements, Punit Goenka, MD & CEO, Zee Entertainment Enterprises Ltd. said: “Zee 4.0 will be an integrated and synergised organization, with a sharp focus on delivering world class entertainment content to our consumers across the world and enhanced value to our partners across the ecosystem. As I had expressed in my Open Letter, our endeavour will be to build a process-oriented structure for the future and our integrated approach is a strong step in this direction. ‘Gusto’ is an extremely important pillar of the new version of the Company and as an ‘Academy of Talent’, Zee will continue to nurture and build leaders for the Company and the Industry at large. I am delighted to have Rahul Johri join us to lead the Revenue & Monetization team and I am equally glad to have a strong business leadership team comprising of Amit Goenka, Punit Misra, Shariq Patel and Anurag Bedi, leading their respective functions. I am most certain that the collective experience and expertise of the leadership team, will help us immensely in achieving our set goals for the future.”

     

     

  • TechComm will review process and take 8-12 weeks to come up with a report on niche genres ratings

    Ratings Bandh! BARC to stop releasing viewership data for individual news channels

     

    By Pradyuman Maheshwari

    [updated with News Broadcasters Federation story link]

     

    Ring-a-ring-a Ratings,

    A mess-up full of claims,

    Yeh Dishoom, Yeh Dishoom!

    We all fall down

     

    Pardon this hurriedly written parody of everyone’s favourite nursery rhyme by a friend. But kya karein. C’est la vie.

    As we wrote last week, ask anyone associated with the television broadcast business, and they’ll tell you how news channels are the Indian television measurement business’ Achilles’ heel. However advanced the measurement craft, successive regimes in the TV measurement business have experienced testing times thanks to the mess dealing with the news business. Plus the penchant to run to the government, and complain. “Uncle, uncle, see this guy is acting very funny.” Not funny at all.

    It happened with the previous ratings body TAM. NDTV took it court, and that eventually led to TAM losing its measurement business, its mojo. And this despite all the might of then co-owners WPP and Nielsen.

    Then BARC happened, it was all hunky-dory in the early days. NDTV was still not high on the ratings roster. But soon enough the news biggies started getting tough on the BARC bosses.

    But we aren’t batting for BARC and TAM. Ask the newswallahs. They too will cite various reasons for being upset with things. With reason. After all when your ratings are low, despite the belief and in actuality you are doing a good job.

    The final straw was the ratings controversy of last week. Mumbai Police Commissioner’s declaration that threw in Republic’s name for allegedly rigging ratings, and Republic’s expose of an FIR naming India Today.

    Conventional wisdom would say that it’s not right to base stories on allegations by folks or FIRs. They are not based on any investigations and chargesheets. Or even court orders. But, darlings, that’s conventional wisdom. We are talking of the news business.

    Over the last week, there is been a bloodbath. Unfortunately. Some media companies haven’t fallen short of anything. Arnab Goswami is being painted as Villain #1. There are many who don’t like his journalism. There are many who think he’s too pro-BJP and the Narendra Modi government. But then there are issues with many others too.

    This report is not an attempt to list the kind of stories which news channels keep doing. And their editorial stance.

    It’s about the decision that BARC has taken. In the light of the recent developments, the BARC Board has proposed that its Technical Committee (Tech Comm) review and augment the current standards of measuring and reporting the data of niche genres, to improve their statistical robustness and to significantly hamper the  potential attempts of infiltrating the panel homes. This exercise would cover all Hindi, Regional, English News and business news channels with immediate effect.

    Therefore, starting with the ‘News Genre’, BARC will cease publishing the weekly individual ratings for all news channels during the exercise. This exercise is expected to take around 8-12 weeks including validation and testing under the supervision of BARC’s Tech Comm. BARC will continue to release weekly audience estimates for the genre of news by state and language. So no individual numbers.

    Explaining the need for this move, Punit Goenka, Chairman of BARC India Board said: “Given the most recent developments, the BARC Board was of the opinion that a pause was necessitated to enable the industry and BARC to work closely to review its already stringent protocols and further augment them to enable the industry to focus on collaborating for growth and well-natured competitiveness”.

    Added  Sunil Lulla, CEO, BARC India: “We at BARC take our role in truthfully and faithfully reporting ‘What India Watches’ with the greatest sense of responsibility and work with integrity to ensure that our audience estimates (ratings) remain true to their purpose”. He added: “Besides augmenting current protocols and benchmarking them with global standards, BARC is actively exploring several options to discourage unlawful inducement of its panel home viewers and further strengthening its Code of Conduct to Address Viewership Malpractice”.

    Meanwhile, the News Broadcasters Association has welcomed the 12-week suspension of TV ratings. NBA, which represents a large section of news broadcasters – but not the entire universe of news channels, believes that the suspension is an important step in the right direction. [update: News Broadcasters Federation has opposed the BARC move. Please read: https://www.mxmindia.com/2020/10/daggers-drawn-nbf-opposes-barc-move-says-it-wasnt-consulted-on-ratings-pause]

    Said Rajat Sharma, President, NBA: “Recent revelations have brought disrepute to the measurement agency and by extension the broadcast news media. The corrupted, compromised, irrationally fluctuating data is creating a false narrative on What India Watches and has been putting pressure on our members to take editorial calls that run counter to the journalistic values and ideals of journalism. The current atmosphere of toxicity, abuse and fake news is no longer tenable and NBA as the custodian and guardian of Indian broadcast media believes a bold step of putting ratings of news genre on hold will help in improving the content. For many years NBA has been highlighting its concerns about the veracity of TV viewership data, which have been prone to irrational fluctuations. Recent events have shown that there is much more at stake than just the measurement of news channels’ popularity. Indeed, a healthy and vibrant TV news industry is vital to Indian democracy. We expect that the period of suspension will be utilised to implement important reforms at BARC. To safeguard the integrity of viewership data, human intervention in its collection and processing must be totally eliminated. Data security, including encryption and restricting access to key information, must be ensured. Complaints, if any, should be dealt with in an independent and transparent manner. NBA also expects greater consultation and openness when important decisions are taken by BARC.”

    What led to this? Loads of things. The last straw was the expose, the threat of government intervention, and the summoning of media agency network stalwarts for an intense conversation with the Mumbai. Madison World CEO Sam Balsara is said to have spent seven-and-a-half hours with the cops. IPG Mediabrands CEO Shashi Sinha and GroupM CEO Prasanth Kumar some 4.5-5 hours. All on Saturday, when many of us may have been taking it easy with a siesta.

    So what happens now? You couldn’t have invested so much time reading this just to get the same stuff that’s on other platforms. It’s a win-win for everyone. But only prima facie. Channels that are doing well currently will be stay on top in terms of perception. So Advantage Republic TV and Republic Bharat. Not too much of a disadvantage for the others who are getting the revenues – like Aaj Tak and the other leaders of the pack. For those which are emerging or getting out of the woods, the absence of ratings is a setback.

    That something needs to be done with the ratings has been spoken about by TAM and BARC in the past. LV Krishnan will tell you that. As will Partho Dasgupta. And now Sunil Lulla will as well. But folks like Goswami and some others are said to have been opposed to the idea. The leader after all wants it to be known that s/he is the leader.

    And what does it mean for BARC? Some peace of mind. Messrs Lulla & Co can sleep those extra 10 minutes every day, and 20 on a Thursday, the day ratings are published. Also, as a wag said: Even if news channels were to go out of BARC’s measurement it would mean 10 per cent revenue gone but 90 per cent of the problems as well.

     

     

  • Genre Level Ratings, by State and Language to Continue

    BARC to pause ratings of news channels

    By A Correspondent

    (this story is based on two communiques… propah report coming up)

     

    In the light of the recent developments, BARC Board has proposed that its Technical Committee (Tech Comm) review and augment the current standards of measuring and reporting the data of niche genres, to improve their statistical robustness and to significantly hamper the  potential attempts of infiltrating the panel homes. This exercise would cover all Hindi, Regional, English News and Business News channels with immediate effect.

     

    Therefore, starting with the ‘News Genre’, BARC will cease publishing the weekly individual ratings for all news channels during the exercise. This exercise is expected to take around 8-12 weeks including validation and testing under the supervision of BARCs Tech Comm. BARC will continue to release weekly audience estimates for the genre of news by state and language.

     

    Explaining the need for this move, Punit Goenka, Chairman of BARC India Board said, “Given the most recent developments, the BARC Board was of the opinion that a pause was necessitated to enable the industry and BARC to work closely to review its already stringent protocols and further augment them to enable the industry to focus on collaborating for growth and well-natured competitiveness”.

     

    Added  Sunil Lulla, CEO, BARC India: “We at BARC take our role in truthfully and faithfully reporting ‘What India Watches’ with the greatest sense of responsibility and work with integrity to ensure that our audience estimates (ratings) remain true to their purpose”. He added, “besides augmenting current protocols and benchmarking them with global standards, BARC is actively exploring several options to discourage unlawful inducement of its panel home viewers and further strengthening its Code of Conduct to Address Viewership Malpractice”.

     

    Meanwhile, the News Broadcasters Association has welcomed the 12-week suspension of TV ratings. NBA, which represents a large section of news broadcasters, believes that the suspension is an important step in the right direction.

    Said Rajat Sharma, President, NBA: “Recent revelations have brought disrepute to the measurement agency and by extension the broadcast news media. The corrupted, compromised, irrationally fluctuating data is creating a false narrative on What India Watches and has been putting pressure on our members to take editorial calls that run counter to the journalistic values and ideals of journalism. The current atmosphere of toxicity, abuse and fake news is no longer tenable and NBA as the custodian and guardian of Indian broadcast media believes a bold step of putting ratings of news genre on hold will help in improving the content. For many years NBA has been highlighting its concerns about the veracity of TV viewership data, which have been prone to irrational fluctuations. Recent events have shown that there is much more at stake than just the measurement of news channels’ popularity. Indeed, a healthy and vibrant TV news industry is vital to Indian democracy. We expect that the period of suspension will be utilised to implement important reforms at BARC. To safeguard the integrity of viewership data, human intervention in its collection and processing must be totally eliminated. Data security, including encryption and restricting access to key information, must be ensured. Complaints, if any, should be dealt with in an independent and transparent manner. NBA also expects greater consultation and openness when important decisions are taken by BARC.”

  • Company also donates 5,000 Face Shields, Surgical Masks & Sanitizers each to the Chennai Police Force

    Zeel donates to Tamil Nadu to fight against Covid-19

    By A Correspondent

     

    Zee Entertainment Enterprises Ltd (ZEEL) has handed over critical healthcare equipment to the state of Tamil Nadu, further strengthening its fight against Covid-19.

     

    In the presence of Chief Minister Edappadi K Palaniswami, the first batch of 18 ambulances were handed over to the TN government. Additionally, Zee has donated 12,500 PPE Kits, 5,000 Face Shields, Surgical Masks and Sanitisers each, to the state.

     

    Speaking on this initiative, Punit Goenka, Managing Director and Chief Executive Officer, Zee said: “Zee is committed to provide a strong support to the Tamil Nadu government in its fight against Cvid-19, with a key focus on strengthening the overall healthcare infrastructure. We also stand together with the dedicated police force of Chennai who have been at the frontline in this fight against the pandemic.”

     

     

  • The award will be presented at the IAA World Congress in Saint Petersburg in May 2021

    IAA India wins Compass “Chapter Excellence” Award

    By A Correspondent

     

    The IAA India Chapter has been selected to receive the coveted 2020 IAA Compass Chapter Excellence Award. Announcing this, Heather Leembruggen, Chairman – IAA Compass Awards: “This is awarded to the IAA Chapter judged to have made the best overall contribution to achieving the aims and objectives of the IAA over the previous two years (2018 and 2019).”

     

    Srinivasan K Swamy

    Added Srinivasan K Swamy, IAA Chairman and World President: “I am very happy that the India Chapter’s efforts have been recognized by a global jury. The Chapter has consistently worked at setting an example for any industry body to emulate. Its wide range of activities and the quality of their initiatives is noteworthy. I must specially commend them for always working to show that communication is a force for good. This elevates not just the industry body but the industry as a whole. I congratulate President Punit Goenka and the team at IAA India.”

     

    Said President IAA India Chapter Punit Goenka: “The Management Committee of

    Punit Goenka

    IAA’s India Chapter is blessed with the collective wisdom of senior professionals in marketing, advertising and media domain. The Committee and office bearers have always taken the required extra mile picking up initiatives and causes that affect our industry and our society at large. This makes the Chapter a vibrant and responsible representative of the communications industry. I accept this prestigious award with humility on behalf of all the members of the IAA and our industry.”

     

    The award will be presented at the IAA World Congress in Saint Petersburg in May 2021.