News Headline
Study reveals need for tech savvy managers in media companies
MUMBAI: Media and entertainment executives around the world are focused on the impact of technology on their industry.
They believe that more technology-savvy managers are critical to their companies’ future success.
Also while television broadcasting remains one of the most profitable segments of the media and entertainment industry, it is generally seen as the most challenged to thrive and grow in the future. On a more positive note cable operators, which have not performed as well in Europe as in the US, were cited by executives more often than other media industry segments as likely to thrive in the years ahead.
This information is contained in a new study conducted by Ernst & Young. Executives who participated in the study say that digitisation of content, combined with the increasing adoption of broadband distribution technologies, is creating major shifts, challenges and opportunities for their industry.
The study is called Fast Forward: Technology Propels Media and Entertainment CEOs into the Future. It is is based on extensive industry research, including in-depth discussions with 23 CEOs, CFOs and leading industry financial stakeholders, including top executives from global media conglomerates like Disney, Viacom and Time Warner
The study notes that the pace of technology-driven changes in the media and entertainment industry throughout Europe and the world has created enormous strategic challenges and uncertainty for global companies. It is not unlike a chess match in which new pieces are constantly introduced into the game. As a result, executives believe that they must bring in new talents and skills onto their management teams who will be capable of better understanding and responding to constant change.
As a result of the fast-paced changes facing their industry, media and entertainment companies are highly concerned about bringing the right disciplines into their organizations. In fact, building the right management team was cited by 75 per cent of participants as a major internal challenge to success, far more than any other factor. Technology and financial knowledge were frequently cited skills that will differentiate the next generation of managers, according to the executives.
75 per cent of executives participating in the study cited digital video recorders (DVRs)-more than any other new technology-as an innovation likely to disrupt the industry’s status quo. DVR use, that allows viewers to time-shift programming and thus bypass advertising, is expected to grow rapidly in Europe, reaching 6.5 million households by 2007.
Some 24.7 million US homes are expected to have DVRs by 2007. This will pose a serious threat to about 12.5 per cent, or about $4 billion, of traditional television advertising.
The news is not good for the music industry. Since it has been hard hit by piracy enabled by content digitisation it now has the lowest profitability margins of any media segment. The media and entertainment companies represented in the study had combined annual revenues of $214 billion (FY03) and a combined market cap of approximately $340 billion.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
