HOW DOES ONE between technology and what is today, in general parlance, called digital? Ask Kiran Mani—the CEO of Viacom18 Digital Ventures—this question and he takes some time to gather his thoughts. “It’s crucial to make a distinction. Technology distributes content, while digital creates a marketplace for it,” he says.
It is a succinct but accurate assessment, most people would say. Mani, who joined Viacom in late 2023 after 14 years at Google, through this conversation, constantly attempts to simplify what sounds esoteric.
Viacom18’s OTT platform, JioCinema, has been a relatively new entrant in the space but, like in telecommunications, has disrupted the status quo. It left people shocked when it offered the Indian Premier League (IPL) this year free of cost to viewers— at a time when most experts are of the view that subscription is the way to grow the market. “India is undoubtedly a price-sensitive market, and offering the IPL for free was a big bet that we took. When consumers see value, they are willing to pay, as seen in many service industries,” says Mani.
It is hard to disagree with him; a similar playbook has been followed in other industries as well, such as food delivery.
The Indian entertainment industry is in a transformative phase right now; digital has stormed the bastion, questioning every existing business model and making it impossible to predict tomorrow. As the business gets redefined, it’s not just about films anymore. Mani goes as far as to say that digital solutions “will be as seamless and accessible as electricity is today”. Just at the click of a button, it seems.
SIT BACK AND ENJOY
This story is from the September 15, 2024 edition of Business Today India.
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This story is from the September 15, 2024 edition of Business Today India.
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