Indian representatives from the world's leading media groups outlined their growth plans for the market at the FICCI Frame Media Conference in Mumbai.
The conference is organized by the Federation of Indian Chambers of Commerce and Industry (FICCI). Kevin Vaz, Chairman of the FICCI Media and Entertainment Committee and CEO of Broadcast Entertainment Viacom18, highlighted the importance of sports in the Indian market during a panel exploring the future of the media and entertainment industry. Streamer JioCinema is a subsidiary of Viacom18. The company acquired the rights to the hugely popular Indian Premier League cricket tournament in 2022 and streamed it for free on JioCinema in 2023, garnering millions of eyeballs from its then rival Disney+ Hotstar in the process.
“Cricket is one of the most influential sports in this country. This is the only content that works across the country, and advertisers value it because it gives them immediate reach and allows them to get their message across to consumers in the North and South at the same time, ready and waiting. You pay for this kind of content,” Vaz said. “It makes sense to put sports in front of a paywall. “When sports have that kind of viewership, it’s not ideal to try to limit that reach when there are people who want to watch it.”
Sandhya Devanathan, Co-Chairman, FICCI Media and Entertainment Committee and Vice President and Head of Meta India, outlined the company's three key priorities: That means using AI to drive better revenue for advertisers and allow users to have a more engaging experience. Enhancing Reels, the popular short-form video format that is a big growth driver for the platform in terms of user engagement and how businesses use it. 60% of Indians also use WhatsApp for business messaging.
Co-chair of the FICCI Media and Entertainment Committee and Chairman of Warner Bros. Arjun Nohwar, Senior Vice President and General Manager, India and South Asia, Discovery, said: “Success lies in having a deep understanding of changing consumer preferences and being able to tailor content or stories that are relevant to them, that delight and inspire them, and that they love.”
Commenting on the fact that most Indians are now watching content on their mobile phones, Nohwar added: “The new dynamic that’s emerging is that we’re focused on ‘when’ and traditionally linear network television hasn’t focused on that. By 'when' I mean there are moments of consumption that occur while waiting to board a plane, while picking up a child from school, or while riding 30 floors in an elevator. And is there a compelling form factor that isn't simply user-generated for a 30 second to 5 or 6 minute moment? Therefore, it will be important for networks to think about creating derivative works from existing content. And now, with consumers increasingly accustomed to watching content across multiple platforms and TVs, we look at how to create moments of truth and make content relevant to them in bite-sized, snackable moments. Maybe they need a crumb trail so they can come back to linear television and watch 24-minute, 50-minute episodic shows.”
Sushant Sreeram, country head, Amazon Prime Video, said the service offers about 20 other content options from India and around the world through SVOD, TVOD and channel options. “When we think about how we serve India, our foundation has always been that our customers value great value, variety and convenience,” Sreeram said.