 Hello everyone a very good evening to all of you. I hope you have enjoyed the sessions We've had till now quite a few enlightening ones to so to say But I promise you that this session which is going to happen will be as exciting as it can get Because the topic is obviously a very hot one You know everybody when the agenda was announced came to me and spoke to me about you know Saying that boss this topic is going to be very very exciting for all of us And we are all looking forward to hear from industry experts who are sitting out here All three of them are distinguished professionals who have seen the television industry growth for such a long time and All of us including me will be extremely excited to learn and know their thoughts on the television growth ahead Also before starting the session I must say That it is very rare that you get star Z and Sony on one platform Actually, thank you for that. I Think only pitch Madison will be able to do it. I hope the stage which stands the way of these three people Jumping directly into the session Sorry before that I would just like to thank all three of you again. I'll start directly with Pretty much what's the title of the session is the TV growth Fortunately, we have seen Today that many people touched upon the topic about TV strength. Mr. Poori spoke about how you know brands have effectively utilized television Mr. Bhattra spoke about how Outside numbers brands have utilized television, etc. But it'll be great to know from these three people what stands as What stands in terms of future for this industry? Because we've seen a steady increase in the television ad revenue for the past many years Now while the growth has kind of tapered down, but I would say, you know, that just a blip Hopefully for the television industry and I would like to learn from them That in the future, how are they planning to grow the television ad revenue? We can start with Amruta and Thank you. And Thanks, Sam. Thanks, Vikram and the mall to get for bringing all of us together. And like he said, this is the first time I think, you know, we're sharing a platform So on the question that I'm all asked How do we see the future for television and the continued growth? I Would put it in in two parts One from a demand perspective and the other from a supply point of view Television as all you all of you know today reaches out to about 210 million households in the country Which roughly translates to about 900 million people Which is by far the largest medium that you can have in the country and Despite its reach of 210 million homes, it still covers only two-third of the country What it means is there is another 30 percentage or 33 percentage That gives us huge headroom for growth and I think as broadcasters our Focus will be in the future to build our penetration in those segments and as consumption grows Demand will follow and there is another side to the demand if you look at Indian addicts The Indian addicts ratio to the GDP is just about 0.3 percentage And if you look at any developed economies It is in the range of 0.7 to one and a half percentage Even if you were to compare it with comparable economies, it's much much higher than India So in the coming years Media addicts is expected to have a dramatic growth and hence Keeping in mind these two aspects Television is expected to draw also grow in double digits I'll take the liberty of before giving you the exact answer Giving a little bit of a preview to it Day before yesterday there was a news that the single biggest deal in the history of aviation was done in the country and There are 470 aircrafts which are going to be bought India is the second largest economy as far as The road transport is concerned the total number of Roads which are getting built every day is about 50 kilometer 5.6 million kilometers of road are getting built one small data point is that 2019 they were about 324 per second UPI transactions in 2022 it's 2438 it's doubling every year year on year I would really want to extend what Sam was talking about in his Presentation that it is India shining It's absolutely India shining and if that be so the context is that Everybody sitting in this room will see the best of their times in their careers in the years to come It's not about TV. It's not about digital. It's about everybody will see a great time Around what Amrita was talking about I completely resonate with her that it's point three percent of the GDP I mean when India is going to grow so exponentially when Aviations, I mean seven years back. We were 74 airports in the country today We are 147 in three years. We should in three to four years We will be about 200 airports in the country with about 10x growth in the number of Airflares every day now which country in the world will talk about that kind of growth So there can't be any better narrative for anybody and everybody sitting in this Room everybody will be benefited one more data point on that is that in my father's generation If Colgate will come with an ad they will take about 10 years to set that context up In my generation LG will take about five six years to set a narrative My daughter's generation it will be about a weaver will take two six months about to set a Launch a new platform or not launch a new phone in today's generation with the new millenials coming in its Brands want to become a household name overnight now for becoming a household name overnight whether it's a tradition traditional brand and Vikram will understand that what I'm talking about whether it's a gover then he's of the world and Brilliantly fantastic job done Vikram on that. I mean somebody who would not spend a penny on Television and Madison could see a great amount of insight on that and build that up and build a huge platform to make up becoming a Substantial player for our ecosystem. There are brands who need a narrative. There are brands who needs a Story and what better medium than anybody and everybody sitting in this room on telling those stories So there's a great fee. There is a great future for all of us The only thing there is a word of caution There is something which is called Confirmation bias a lot of time when we see these kind of numbers and we see And I primarily feel my personal view is people who are selling TV and people who are selling digital They see TV as perishing rest everybody whether you talk about media planners and multiple times I've had these chats with Vikram in their media planning mix and When Nagraj was presenting this absolutely absolutely you could figure out that there is so much of potential in it You can't do without a TV. So I guess there can't be a better narrative There can't be a better story tell there can't be a better time in our careers on it the last piece which I will talk about which not Raj touched about and Sam touched about which is a very very critical piece. It's a generation or it's a change of course in my mind from TV versus digital To TV and digital. So the most important concept is the word in between which is and and not or So that's what my view would be Good evening everyone. Let me first welcome each one of you who's come here to hear us So, thank you very much. Thanks Sam. Thanks Vikram and welcome to my panelist here And thank you and more for me having me here. I would be mostly summing up if I'm the last so Mostly my other panelists have already mentioned very very vital points as far as the you know As for concerning the future growth of television is concerned Yes, economy is growing despite, you know The world threatening to go into recession. We are still projecting six and a half percent GDP growth, which is a great story and that shows That the Indian consumer and the habits of Indian consumer are slightly different than what possibly is there, you know across the world And that shows from the way we create, you know content in this country Now if you ask me, what is the future of the growth for a linear TV because TV is I think becoming a bastardized word today Because it's it's about watching content or you know watching information and there are multi-platforms which are emerging So obviously there will be an end world as you know Right now he said Aapna Sandeep said But as us as broadcaster we have to look at our business and when we as broadcasters see obviously We are content creators linear TV is another medium for us, but said so linear TV is the most important and very critical medium for us for growth and It currently the revenues for any broadcaster is about of 80 percent coming from the you know linear business So hence very important for us to You know keep growing it and at the same time even keep protecting it So I think the challenges are for the broadcaster or the linear TV stakeholders, I would say you know to grow this future all this External environment is there to help us but what we need to do as you know We also have to sit back and think that what we as Broadcasters or who are content creators or who are I would say linear TV stakeholders What they need to do to continue to have a future growth in this there is an opportunity to growth of TV sets as Samruta mentioned We are just 70% penetrated so hence that growth will come and affordable TVs are being available in across the country You know there are more and more linear options coming through yesterday only Anurag Thakur mentioned that he's gonna put in all the TV sets The you know the tuner which will have a direct satellite so that we increase the consumption of you know TV at homes So that is one But most importantly, I think content creation and the distribution of content on linear medium is going to be the key And thirdly the other important point is the measurement Today I still feel that bark needs to you know put it together and needs to do a lot many things Then what they are doing right now If I mention about cricket or any other opportunities which are today, and then you have a very You know hotly debated topic coming forward about IPL My point of view is TV The consumption of cricket or you know on linear TV is still going to be much higher reason being What we are monitoring is at home right now There is a huge amount of viewership which is coming out of form on large screen TVs What digital is going to propel is an additional amount of your shape through small You know mobile phones or small handsets and that's where so catch up is going to happen if I'm not at home I will watch it on my phone, but if I'm at home, I'm definitely going to watch it on my TV So then that is what I mean, you know Nagraj made a very valid point here today That integrated media solution has to be there for brands So that is more from a media planning perspective and that pie has to come to linear TV as well How will linear TV will sustain its consumer because consumer is sitting in the middle of Everything as long as linear TV is able to reach to the consumer as entertaining it them it's going to grow and There are many phases to that. I mean it is going to buy Everywhere else in the world Your linear TV coming to your home was more expensive than the digital Or the OTT options which came in India. It's reverse You know India the linear TV opportunity or your cable bill is still not more than 300 bucks Whereas if I aggregate all the OTT options put together They still cross more than 650 to 680 if I take Netflix at 199 bucks from a per month perspective So obviously and then there is data consumption over and above that So there is a huge bill which is going from the pockets of the consumer We have you know only what I don't know the exact number of taxpayer But I think it's only 5% to 10% people in the country who pay tax, right? I mean, they are the one who have discretionary income But there is a huge amount of population who's looking for entertainment. Where will they go? They have to go on to linear TV because that's what they can afford right now and Lastly, I would say you know Content creation Or I would say the content the way it has been on linear TV, especially in the entertainment side There is two vast difference here on linear TV. You continue to see Fiction shows which are long drawn Which you can't you know binge watch and Why do people still continue to watch that especially females is because they're following characters You know, there's a huge influencer economy, which is emerging But the biggest influencer is sitting on linear TV. They are every day influencing you They are every day female is following that Sorry the character and that is why they're not there for stories Whereas the OTT is bringing you a content where the hero is the story the script not the character So there's a vast difference of Content creation which is happening across both the mediums Hence this content will be the mainstay of having heard or I would say Differentiating between the two consumer and I think that is what will propel, you know TV growth in future Distribution is key cable TV guys and DTH have to you know Get their act together and possibly fight the other mediums or the other platforms I think they need to become a little more accountable infrastructure Investment has to be there in these mediums because if we are able to get return part data, you know There is a lot more which brands can do through linear TV because then it will be two-way talk So those are few things which I think in future will definitely happen. Thank you, Ashish I think summing it up what I hear from all three of you is increased penetration. I hear India shining What do you call distribution and creation But but coming to specific this all is great to know and obviously we are in agreement over here But slightly deep diving into specifics. See for example in the last few years We have seen one lever which draws which propels the growth of the television industry I'm not talking about that lever in Andheri So what happens is for example, if you look at last year Sports was the category which drove the growth on television medium, right? Future what is going to happen? Which are the areas like we also saw impact in some years We saw regional channels coming up in some years What more? Yeah, I mean broadly these categories But if you go ahead in the next few years, I would like to hear from you on Which are the categories which are actually going to drive this? Anybody can take this I'll go first. I Would say sports will continue To be one of the key growth levers, you know, if you look at The key broadcasters, there are multiple of them. They have invested big monies in sports That is one aspect and the other aspect that I would talk about is there is just so much noise around Premium audiences that is available on the big screen I'm saying big screen not necessarily linear television, right? Ever since the noise around connected TV has started We have started seeing an increased interest from advertisers on the HD homes that linear television can reach out to So in the last two years if you look at it Just in the NCC is a cohort You can see about 53 percentage of growth in HD homes and this comes with the benefit of The big TV big screen effect and it also delivers consistently Even in the back data Right time spent if you look at SD home versus HD homes, it continues to be equal or greater than the SD homes So this is one segment that we would see in the coming years Would scale up or help us expand the ad space Third point is something Ashish already pointed out There is a very large influencer economy right out there advertisers are increasingly wanting to have more and more Influencers talking about their brands if you look at our the broadcast business or the linear television The last two and a half decades advertisers have been looking at us for the ad break You come to us to buy inventory from us But our first identity is actually content and characters And this content is built to bring audiences day after day Something that is very difficult to aggregate Aggregation of audiences day after day is not an easy challenge easy easy job anymore At the same time it also comes with characters that have great influence on consumers They have the ability to change consumers behavior And we will see advertisers and brands using these content and characters more and more on linear TV And the fourth point is something for I think over a decade we have tried But never really succeeded Bringing a common currency for across TV and digital Like you all have seen the presentation that Nagaraj put up you can see that the more narrower the TG becomes it becomes CPM becomes expensive But the wider the TG is it is far more Economical than any other medium in the country. So it's important that we start calling out Not necessarily CPM like he said it's the completed view on television If you start calling this out advertisers will get to see What is the comparable CPM between television and digital and not just advertisers all of us for that matter and that is when It would become very pronounced that The efficiency of television is not only about building reach at a rapid scale. It is also about doing it at a very economical manner Lastly, you know in the last few years, we've also seen this is in one of my conversations with Sam that this came up There has been an increasing trend of agency pitches on very You know committing deflationary pricing Right many examples, you know all of you would be thinking of it at this point I don't want to give examples, but at the same point at the same time We must remember that this has a Massive massive impact on television addicts On one side we talk about oh TV could have grown a little more, but at the same time We're also to be blamed for it So these are the few points that you know that come to my mind Thanks, I think the last point is also about demand supply. Isn't it? I think that requires a very Different session to talk about that way, but coming to the earlier point of integrated media which you spoke about I just want to know how integrated plans can actually increase the Addix on television. I didn't understand that to be honest Integrated media plan. Let me say from a CPM perspective So for example, you know the chart that he put up you can see that if somebody is looking at let's say 2 plus You can say single digit CPM or CPCV you can get on television But this is not something that you can even get on digital right that the kind of number doesn't exist because it's a flat line Any TG that you look at the CPM or CPCV would become like four times of that CPM, but television comes at broader TG much cheaper single digit Narrower TG it could become expensive, but at the same time it can build reach at a rapid scale We'll surely take this proposal to the digital mediums. Don't worry So thanks for the thoughts and Ashish. I'll come to you on a very important aspect of television again, which is fragmentation of audiences I'll throw some numbers out here 900 plus channels on television 578 channels monitored by bark But if you look at the share of viewership visa be the share of revenue it shows a very different story I'll tell you how The top 75 channels in the country account for about 65% of the total viewership in India However, when it comes to revenue the same top 75 channels account account for about 70% Approximately of the revenue And I tell you why I'm asking this because One of the strengths of linear TV is the ability to build reach at higher frequencies We all agree to it. We've seen it in the presentations, etc. And it's an established fact Don't you think it's time for some bit of consolidation because yeah, what's happening today is because of so many channels Viewership obviously is getting fragmented So we have to buy multiple channels to reach audiences and probably it is not letting the TV industry also charge a premium for each So for example if one rating gets consolidated in one channel, obviously you guys will, you know, get a better Whatever CPC came for it. So don't you think Maybe it's a question you might be not able to answer, you know in the current context, but Fundamentally, don't you think that fragmentation is a big issue with You know when building add volumes Okay Firstly, let me ask you this Will you ask the same question to all the digital guys that don't fragment. Okay, let me tell you the data says Linear TV medium is the most simplest way of entertainment. Okay, still TV is easier to reach easier to You know, what do you call? You know search When it is going through either cable or these things that is one about the search ability or the availability of the content, right? Whereas today, you know digital is is a vast medium Where searching itself takes a lot of time by the time you would have watched a half an hour show on TV You know, so that's the way things goes as far as the consumer Convenience is concerned now coming to You know a vast number of channels which are not still giving you rating See yes 75 plus the 75 odd point, you know 80 odd channels gives you the majority of the reach But you know you in Sam's slide also and Nagraj slide also you was talking about that we are unable to catch light viewers Where do you find those light viewers? They are actually fleeting around on those channels Okay, unfortunately when the media planning started you have always looking at when you plan on TV You say I want ma, you know immediate reach 2 plus 3 plus in frequency and so much which I want and You want you plan TV only for that you're not planning for TV for light viewers and that's where you're missing these viewers and Those other 250 odd channels are providing you that and that includes a lot of news channel in that you know news is giving you information as you go and On the TV there are so many news breaks which are happening if those channels are not available on TV You think you know will that be viable in terms from a consumer interest point of view as one Then coming to you know Shutting those channels or consolidating those channels There is another point that you know TV's Business or broadcast business is not does not survive only on advertising the a large part of revenue comes from distribution or the subscription and If those channels are available today in the regimes of NTO 2.0 or 2.0 3.0 today Each consumer is taking that channel by its choice, right? Hence those are today standing and being distributed Which means there is somebody to pay for those channel and if somebody is paying for that channel Which means somebody's viewing that channel fine now? Same thing when you look at a premium audiences, you know, you stop looking at English or niche such channels If okay, the consumer may be small out there or the number of consumers who are subscribing for that may be very small But they are very discerning viewers, right when you do those, you know targeted reach targeted You know campaigns on a YouTube or us, you know some other channels I think the way you should look at these niche channels is that you should look at that as a targeted audience You know campaigns and you can choose those channels for advertising. It is the advertisers I would say, you know You know distrust Which has gone or ignorance, which is actually hurting these channels They deserve to have much more edX than what they are getting today and that will propel the other Amrita just mentioned HD is certainly come in fashion because you know connected TV is being talked about and people are Weighing for it half of the inventory was going highly some time back Now, you know, there is demand for HD TV as well because suddenly you realized Oh, there was a premium. We are already sitting there. Why did I forget in my media plan? You know, but when connected TV, so something which is in fashion so media planner has to start thinking that those will add to your total reach and Everywhere else on digital the planning is done on your reach Not on only frequency because you put a two frequency cap Which means frequency is not is a is not a buzzword on digital, right? It is all about the reach it's more number of impressions if you build your plan on smaller channels Your impressions go up at much lower cost You know, but I have a difference of opinion over here on on what you said see it is all about reach as you're seeing rightly But when you start adding this long tail channels, it is not adding to any incremental reach for plans You ultimately the objective is to reach an X amount of target audience at an X amount of frequency But when you start like I said beyond the point these channels do not add any significant reach Hence the consolidation question. It was not about whether You are getting distribution revenue from these channels and hence you should look at Consolidate it is purely from a planning point you I mean I I also differed from your point of view because you were looking at when I don't know how you're adding if You're adding a Hindi's niche channel to an Hindi plan may not add the reach But you made a regional, you know, niche channel to your your other this thing it may add your reach So really depends upon or an English channel or an infotainment channel, you know It's not that you're not getting that we are on that particular Channel or a mass channel, but when he's watching those, you know unique content channel His interest level is different and I think it is also about the recognizability of your ad during those You know content at the time when you're viewing that content It's also helps you otherwise the same guy is watching 20 different things, but you're trying to catch him on YouTube You're trying to catch him on a you know Some digital you're publishing news publishing digital site or some other, you know similar OTT platform It's the argument can be the same right and as I said that most important for us The long-tailed channel also add to the subscription revenue Media planning of course, we are invited to look at more sharply or media planning But from a business sense they do make sense because they're still giving us money We were subscriber is paying for it and if subscriber is paying for it Which means he's a discerning consume and you should not you know leave him about from your media That's an interesting point. Thank you for that Next I'll ask you Sandeep about what Anuradha also mentioned in terms of the CPM comparison see what we have seen is There are lots and lots of small advertisers who are You know advertising on the digital medium you can pretty much You know do a three lag or a five lag or a 10 lag or a 15 lag plan and you know do some reasonable activity on the digital medium Obviously, you cannot do it on the larger channels television linear channels Even regionally for example, he cannot you know actually make any dent in or any Prisons failed to be honest Don't you think that you're losing out an opportunity of capturing those audiences? The second leg of the point is if you remember the Durdarshan What do you call time when DD used to run its prime content in I think seven to ten Ten o'clock time band in the evening and on Sunday mornings Where is to they used to tell you cast all their bigger programs Omnima Shiva is and of the world and Mahabharat of the world In the afternoon then there's to switch to the regional feeds and then he was to have regional programming on the main national network channel Can there be a possibility of doing something like this on a GC channel? See for example, what you have observed is Mark in Hindi-speaking markets in markets like Bihar, which are core Hindi-speaking states and markets like Maharashtra West Bengal Northeast Where a lot of content still is consumed in the local language, right? That's why you have all these regional channels But if there is an opportunity which can be created to advertise on national channel on Rather the GC channels Where in you have some regional feed it can be an avadi program or a Bhojpuri program or a Marathi program for that matter Is this possible from a monetization perspective and even from a technological point of view? I think there was a split beam technology which allowed you to Telecast, you know localized and I'm sure this can be done for content also But whether it is feasible or not is something we like to hear from you So first things first you said that the digital is able to control a lot of long-tail advertisers I think it's the biggest opportunity for TV. I strongly feel so it's the biggest opportunity for TV Because those long-tail advertisers whenever they become to a certain critical size To become big they will need TV as a medium. So it's a cross-feeding mechanism in my mind It's a flywheel which will be that at some point in time and again going back to Sam's presentation At some point in time TV will Choke some but some clients growth So therefore you will have to go out and use digital at some point in time when you have crossed a certain threshold of digital You will need TV to go out and make yourself big I think it's a fantastic time for both the mediums to keep feeding into each other So first things first is that a second thing is a little detour again. I think What you were talking about there is and I my personal opinion is that Again, I will go back and make them take the same example of govathangi It's it's one of my most favorite example these days. I've been talking about it in multiple forums What it used to spend on and also taking from mr. Puri what he talked about There is only relevant thing which is called customer centricity and in my mind. There are only three cohorts One is what we? Telecast which is our viewers One is our clients and other is our clients customer. Who is our viewers if you are able to create a web between these three You are home a lot of TV solves Will not happen only on TV and nobody knows it better than I guess you guys The amount of work which we have done on Asian pins with you guys Which is a TV solve is getting triggered somewhere else on a different ecosystem and the amount of and people talk about the attribution of TV so Madison came up with the proposition of govathangi and they took KBC as a sponsorship the sponsorship In my mind one of the most brave moves of them coming on board on the KBC association And I truly feel that they had the guts in them to look for that kind of an association They did a six weeks association that six week association finally ended up into 18 weeks and What the client tells us and what the client tells Madison is that the client gets queries out of Haryana the client gets queries out of Rajasthan and the client says that I am getting queries that I want to take your Franchisee because we want you to create of a business in these kind of markets if this is not attribution You know the game ultimately will be only played with one thing Which is what mr. Puri was talking about which is customer centricity Gone are the days that we used to be traditionally in our mode of broadcast that what we will telecast is what everybody will consume And what a planner will buy in what at the end of the day We will only fluctuate on entry works versus exit game is about evolution And if anybody has to go out and be relevant into the piece of business and yes, mr. Puri when you were talking about the KBC Shubhara, I mean we were the ones who did that association because at that point in time You your creative was talking about Shubhara and we want to take that as the pulse and wanted to create a narrative And therefore every time when mr. Bachchan walked into the set of KBC He said that up game kashubhara and then every time there was a winner for him to get a high point was not only money Cadbury was a moment of gratification at that point in time if you have got this pulse that there is a client and there's a customer and there Is a viewer and I will create Amongst these three cohorts. I will create a Interconnectivity whether you are doing digital whether you are doing TV You're in the game and nobody can get you out of the game TV will see its exponential growth not for everybody For relevant people who are able to give relevant solutions But not for everybody and what you are talking about the only thing which I have learned in recent times is That everything is possible. So what are you talking about? I mean that's something that from a content side from an advertising side We must should explore to figure out. Where is the next growth phase? Growth is not going to come on the table. We'll have to go and walk to the table where the growth is But there is ample ample and ample growth for anyone and every one of us That's good to hear. I just add to him what I think Today television is already, you know Tapping the long tail and it is by you know launching all these each regional market channels So there are regional focus channels, which are Contributing to the growth of a long-tail businesses Especially when you you know said right now, there are so many channels Which don't add each is because you're looking at all India plan But there is one channel who is possibly working in Uttar Pradesh as and primarily those are news channels or very unique content channels, which are Addressing that region specific content opportunity, you know They are the one who are getting those long-tail channels and they may not even feature in your plan of things And hence you say that my media plan is not making sense But here is that guy for him that channel is making sense and which is why you should still see the mushrooming growth of You know more and more channels. I mean I said there are two channels who's just launched Recently in news channels, right? So why are they launching they see some you know money on the table? Obviously that is why they come in so there is a long-tail development, which is happening across the market. In fact this financial year There's a huge retail advertising growth, which has happened You know while the large advertisers have held back their monies or not really grown that But there's a lot of ad-ex growth which has happened from the retail and amruta would you know possibly To me because they also have a huge bouquet of regional channels there So I think that is where the long-tail business is getting arrested Yeah, well you asked two questions actually one is the SME part of it If I were to look at it in fact I admire what digital has done for these smaller businesses And that is the big value that it has added to the media addiction and if somebody has to a small boutique in Really small town and I think orange either sitting here You know what a Facebook can actually do for that particular brand is it can reach out to that smaller cohort of Consumers that it is targeting This possibly is not something that television can reach out, but at the same time what we must remember is the same meta or Google or YouTube Our characters are also present over there. They are big influencers Like the point that I mentioned earlier if we were to look at it We were to use these characters and content to actually help the SMEs to Build their businesses in their respective smaller geographies Maybe on linear television it can't do But the assets that is its content and its characters can do but on digital Right having said that the last you know like Ashish mentioned I represent the largest regional network linear network in India We have brands that we have acquired in the last ten years, but these brands existed like for the last 25 years Isha and it is a a good example. There is a very large Regional enterprises Addex base that we have in these markets Kerala's ad revenue is in fact no fueled by the local enterprises They're only available in Kerala. They're not available in the rest of the state Similarly some of these brands right from the beginning like Kalyan jewelers Malabar gold so many of these brands from the jacasturi All of them started out and build these brands on television. Maybe with just one store in a Town in Kerala Trishur Kalyan jewelers used to advertise on television Today it has More than hundred showrooms across the country and outside of the outside of India as well Tamil Nadu is another big example. You know, I would give credit to Sun Network as well Over 30 percentage of our ad revenue comes from the local enterprises So television wherever you have a very strong regional product you are able to have a good Addex contribution from local enterprises Maybe this is something that we haven't been able to crack in in the HSM geography Considering it is a very very large geography and there are still advertisers Available or targeting like smaller geographies within HSM This is something maybe it's an input from you this question possibly would open up our minds and we possibly would come up with some solutions And there was another question on fragmentation. No, you asked one more question about No long tail and I agree with him we are known for consumer centricity, right? And we do tons of research before we take any show out on air like for every five show that you see on air Another five show gets rejected Right at the story stage Shoot stage pilot episodes are created. We take it to the consumer. They don't like it. We have to alter it sometime that alteration It said don't work So the level of consumer focus that we have it is huge So we don't really believe in simply dubbing and giving a show in multiple languages instead we would like to Create content in their respective languages like India is many India's, you know, it's culturally very nuanced There are shows that travel across states There are multiple examples that I can give you there is a show called Shreemui which originated in Bengal It went to every single market across India. It is in Hindi as Anupama Telugu Tamil Malayalam Kannada all of it all of these Combined or accumulative audiences if you look at it the same story must be reaching out to about 150 million people consistently and that is the power of content story Only if you make it in the in the manner the consumer wants to see in the language They want to see in the form of relatable characters So from that point of view technology is available But the objective we need to be a little more clear whether it is this way or some other way that we should look at As anticipated we're running out of time because I knew this and you're not going to Be wrapped up in the stipulated time, but just coming to the end of it. I'm with that This is for you and I know you're very passionate about about about the comparison between linear versus digital and Unfortunately, it is inevitable at this point of time. You touched upon the CTV part Briefly, but from an overall reach perspective. See for example, we know the YouTube numbers Are in excess of 450 million then you have each and every OTT platform coming and talking about, you know average monthly users in excess of hundred million so Arithmetic if you just combine all of all of these it looks like hey, you know Digital video is kind of coming to the reach of television the linear television part. How do you combat this? Do we need to combat is My counter question to you. So see inherently, you know, that's questions are being asked now Absolutely, I know I hear it like every single meeting that I go to right and like I said, there is so much noise around digital, you know Proliferation and connected TV and multiple other things, but the fact is It should be asked in a slightly different way if YouTube has 450 million consumer base Television has 900 million. Why are we forgetting that it is it is incrementally adding another 450 million, right? And are we assuming that OTT is actually incremental over or YouTube? I don't think so Right, so the reach Fundamentally, if you look at it, it is that 450 million and you know digital deserves what it deserves It is also reaching out to consumers. It's not that you know, but the fact is going back to the pricing How economical it is Right. We've also seen and the brand-building capability that television has the aggregate audiences It can bring the collective audiences that it can bring it lives brand conversations. It it aids brand memorabilia And it would also translate into business outcomes The challenge that we are facing or what we have not done is He mentioned in the conversation that we have not really Claimed attribution Right the last mile player always gets the attribution. I would really like to thank Again, Amrita Sandeep and Ashish were joining the session. We could have loved to go on for at least an hour more I think it was very very insightful and as I said hearing it from the three industry leaders gives the that kind of difference So you have a lot of applause for all three of them. Thank you so much