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TV industry may lose Rs 500-600 cr due to demonetisation
MUMBAI: The government’s move to not accept Rs 500 and Rs 1000 currency notes as legal tender may affect the TV industry in a big way.
A recent media report has estimated that the Indian television industry is to suffer a loss of Rs 500 to Rs 600 crore in advertising revenue as fallout of PM Modi’s decision to demonetise close to 86 per cent of liquid cash in the economy.
This is because several advertisers are postponing their campaigns scheduled to air in November and December due to a slowdown in consumer spending, a media buyer informed livemint.com.
As Colors TV CEO Raj Nayak puts it, “There is disruption in off-take of consumer goods & FMCG (fast moving consumer goods) products.” According to a press statement shared by Nayak, the situation is also affecting new businesses as most advertisers are “clueless as to how the market will evolve and respond.”
Dentsu Aegis Network South Asia chairman and CEO Ashish Bhasin feels that the reason for the cut back on the marketing spends could be the impact on sales that the demonetisation has had on the FMCG products.
Typically, the October-December quarter is the most active quarter accounting for almost 30 to 40 percent of annual billing in terms of advertising spends. With how things are, that is unlikely to be the case this year, a worried Bhasin said.
ALSO READ: Demonetisation: Housing, online payment gung-ho; others find solace in India’s larger interest
MAM
Bob Iger joins Thrive Capital as adviser after Disney exit
Former Disney CEO returns to VC firm, stays on as Disney adviser till 2026.
MUMBAI: From castles to capital, Bob Iger isn’t done building just changing the blueprint. Bob Iger has taken on an advisory role at Thrive Capital, marking a return to the New York-based venture firm he briefly joined in 2022. Founded in 2009 by Josh Kushner, Thrive Capital has been positioning itself at the intersection of technology and long-term value creation, an area where Iger’s experience in scaling global entertainment businesses is expected to add weight. Kushner, 40, welcomed Iger back, highlighting his ability to blend technology with human-centric storytelling, particularly in an era increasingly shaped by artificial intelligence.
Iger is no stranger to Thrive. He had earlier joined the firm as a venture partner in September 2022, after stepping down as CEO of The Walt Disney Company and concluding his tenure as executive chairman in 2021. That stint, however, was short-lived. In November 2022, Disney’s board brought him back to steady the ship, replacing Bob Chapek following a turbulent period for the company.
Now, with his latest exit from Disney’s top job last month, Iger appears to be revisiting the venture world, this time with a clearer runway. Still, the Disney chapter isn’t entirely closed. Under his agreement with the company, he will remain until the end of 2026 as a senior adviser to new CEO Josh D’Amaro and will continue to serve on the board for his current term.
The move comes as venture firms increasingly seek operators with deep industry experience to navigate what Kushner described as “the most consequential technology shift” of the era, driven by AI. For Iger, whose career has hinged on blending creativity with scale, the transition from Hollywood to high-growth investing seems less like a pivot and more like a plot twist.
