MAM
Accenture launches Media Thrive Index for media and entertainment industry
Mumbai: Accenture announced the launch of its Media Thrive Index to assess the impact of reinvention strategies on media and entertainment companies’ ability to succeed financially and strategically in an increasingly challenging industry.
The Media Thrive Index is a response to the findings of Accenture’s third annual “Reinvent for Growth” global entertainment study, which surveyed 6,000 consumers across 10 countries including India about their media consumption behaviours. The study highlighted a complex landscape of challenges facing traditional media companies in which marginal strategies won’t restore them to economic or strategic health.
“While the media industry is growing, the industry players are not. This essentially means that the value is shifting elsewhere. It is amply clear that incremental actions taken with a survivalist mentality will not help media companies thrive in the future,” said Neeraj Sharma, MD and Lead for Accenture’s Media industry in Growth Markets. “For media companies, the need of the hour is to place big bets, go where consumers want to be while exploring new avenues of growth, redefining new roles in the entertainment value chain, and tapping new sources of revenue.”
The Media Thrive Index assessed 50 different strategic options for reinvention, identified from a range of initiatives launched by companies and Accenture’s strategic analysis. The assessment found most options so far are modest adjustments, which do not substantially alter a company’s economic profile. Only radical moves show a path for legacy media companies to secure the sound financial footing needed to thrive and sustain success.
Caption: Accenture’s Media Thrive Index measures the extent to which a reinvention strategy positions a company to succeed by assessing its likely financial, growth, and strategic impact.
Key findings from the study highlight some of the challenges facing media organizations:
● Tired of Browsing – More than 35 per of consumers in India say they struggle to navigate between different entertainment services, apps and devices while 72 per cent say of recommended content does not match their interests.
● Serial Churners – Nearly 65 per cent of consumers in India are cancelling and resubscribing to services based on the availability of desirable content. In 2023, 63 per cent of consumers in India cancelled more subscriptions than the previous year.
● Shifting Preferences – Two-thirds of consumers in India consider user-generated content to be as entertaining as traditional forms of media. In all scenarios presented to consumers, such as “when I want something funny” or “when I want to relax,” social media and social video platforms were consistently picked over streaming video services as the media of choice.
The study also found opportunities for media organisations to expand beyond traditional content offerings, including aggregation platforms and lifestyle bundles. A majority (89 per cent) of consumers in India said they would be inclined to use a single app to access all their digital services across both media and non-media categories. Additionally, Accenture projects lifestyle bundles to reach $3.5 trillion in consumer spending by 2030 with technology brands better positioned over traditional media brands to be the creators of these bundles.
Research Methodology
Accenture researched to gain an understanding of consumers’ preferences, beliefs and behaviours on their online entertainment experiences. The online survey of 6,000 consumers aged 18+ in 10 countries (Australia, Brazil, Canada, Germany, India, Italy, Japan, Spain, the U.K. and the U.S.) was designed to assess the impact of shifting media consumption habits on company strategies and offer suggestions for brands across the media spectrum to adapt their models to be more relevant and successful with customers. Fieldwork was conducted between November and December 2023. Oxford Economics assisted in developing the survey, carrying out fieldwork, analyzing the data, and deriving key insights.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
