 news by all means has been the most sought-after genre in the last few months. Going by the back members, COVID-19 led lockdown resulted in as much as 200% high membership of channels that brought you reliable and credible news. To talk more about the genre and the growth and the leadership decisions that made different channels, news channels stand out in this cluttered world of news. Today we have someone who leads one such network, Mr. Barunda, CEO of TV9 Network. Welcome to the show, Barun. Thank you, Nazia. So, Barun, as we start, I would want to understand from you how challenging have been last few months, COVID-19 has just changed the situation completely. It must have been very difficult to come to office, work with people are still working from home, you know, just take us through the journey. Well, this pandemic affected the entire world. And we have come up with this new normal now. But during this journey as we went into lockdown, during end of March, there was no new normal. People were grappling across the world with this new virus, which nobody had very deep information about. So, for news channels, we had a completely different challenge. We were the fourthest, we are the fourthest. And we are part of the essential services. So, we couldn't shut shop and sit at home. Being the CEO, even I had attended office every single day during the lockdown, including Sundays. I couldn't come to terms with this fact that I would be sitting in my home in AC room and then the reporters and others in the office back there, they would be exposing themselves, which is an unknown risk. But at the same time, we have communicated to the entire team that listen, you had a choice of joining as a teacher in a school or going and working in, or being a writer, being a poet. Every choice is where they are with. Every choice was there with you. But you chose to be part of media. So, this is the time you have to live up to the occasion. So, we couldn't shut shop. And then I get the examples that what if all the doctors take leave and say that, no, we are not going to treat you. What will happen to you? So, it was a very challenging situation for us. But the focus of our operation that time was that be true to your identity. You're the fourthest state. People are worried. They're sitting. They're confined at home. They need the news. Give them the news and protect yourself also. Your health is of utmost importance to us. But at the same time, you've got to continue to deliver, discharge your duties. So, that's how we worked on. And we made sure that we follow all the government directives and norms. We work with half manpower. Sometime we have gone through quarantine. Suddenly somebody got diagnosed with COVID. We went through, we had to shut the office for two days. So, all ups and downs had happened. But I think we lived up to the occasion. The entire team, our entire network, we have about 80 odd people got infected so far. Yeah, I wanted to speak to you about that. The data that I got was that you had close to 100 people from your staff got infected. Your offices were sealed. If you can speak about specific instances, how was it when it actually happened? How was it still continuing in delivering news even when your office was sealed? You see, the reporters were out on the field. They are at maximum risk. They're being exposed. They're going to hospitals and also they are well protected, well guarded. In the office, we had cut down the manpower to half. So, we started working with two shifts. And we made half the people work on a particular shift, but we extended the shift. So, every day when they came to office, it's one and a half shift. And they went back and took a day off. And the next guys, the next set of people came in and worked for one and a half shift. So, that's how overall we tried to do. We have set up a parallel office. So, when the office was sealed, that was a big challenge for us. We have this sprawling studio. We had a fantastic setup, but we were deprived of that for about 48 hours. So, we operated from an auxiliary place next to us. And it is still continuing. I mean, suddenly it's not even a day going past where we don't have a new diagnosis, a diagnosis with COVID. But we tried to believe with this fact that we got to live with this virus. The better side of the virus is that it's, in 90% of the cases, it is asymptomatic, which I personally have spoken to at least 30, 40 people. It is fatal for comorbid and elderly people. So, when you go back home, either you seclude yourself or you seclude them if there are comorbid and elderly parents at home and take all precautions, social distancing, masks. So, it's continuing. I don't think we will come out of this very quickly. But everyone recovered. Sorry, everyone recovered, yeah. Everyone recovered, including one cancer survivor and one person who has severe diabetes. But they should have been more careful with their health. They should have informed us. But nonetheless, they've all survived. Tell us about the entire genre has seen a growth. As I mentioned in my intro, there have been a 200% high. But these are also times when credibility plays a very significant role. You have to give credible news. People have to believe in you. People have to trust you. So, what kind of content decisions did you take? And what would you think work for you that you saw such a significant increase in your viewership during these three, four months? You see, the business of news operations, there are three factors which give rise to growth of viewership. I think these three factors are exhaustive also. One, obviously content. Two is promotion. And three is distribution. And when we do all three of them together in tandem, then there's something called a multiplayer effect which sets in. One of the first basic marketing principles which we were taught in our business school. So, that is what we applied. We were a little lucky. Lucky in the sense that we were planning to relaunch the channel during the month of January. But with the logo change, et cetera, ministry took a little longer. So, finally the relaunch happened in the first half of March. So, relaunch is all pervasive. New look, new FPC, new promotions. And we planned innovative kind of promotions across the country. Later on, we had to withdraw most of them outdoor, et cetera. But local TV channels and digital, we've actually flooded that. And then comes content. One part of content is look and feel. If you have seen our channel just before this relaunch, and if you see the channel, you'll see there's a mark difference. And I would possibly, it's a creator's bias maybe. But I think our channel is one of the best looking channels amongst the Hindi news channels in the country now. That's my feel. And in content, you know, we were a fringe player just before the lockdown. Fringe player because we were, we launched only about a year back. People didn't know about it. There was no promotion happen. We were this, our content was good, but our look and feel needed a little bit of improvement. But a lot of people didn't know about us. So, during lockdown, two things had happened. One, we had improved the channel's look and feel and content. I'll come to content soon. Two, there's a heavy promotions in local regional news channels as well as digital. And three people were sampling more news channels anyway. You know, in, in, in case of this uncertainty, you were saying that 200% growth in news viewership. So sampling had increased. So once you sample something new, you like it. You stick with it. It's a very simple way of looking at it. And now in terms of content, what we did in one word, I would like to say that despite being a very new nascent channel, just about one year old, we have set the agenda many times. And, and not that we have compromised with our credibility ever because that's the first attribute to a news channel. I mean, people will reject you the moment your credibility is questionable. And in, in, we've given a variety of content. If you just look at our prime time, it starts at four o'clock and there are branded programs. Each one is coming up another heavy promotions on the channel across outside the channel. And in terms of content, the focus was COVID. And then we have identified, we have the first to identify there's a common enemy to the world. And of course, for India, which now had turned out to be the, the biggest enemy for us, which is China. If you, if you go back and see it longer, that you will see that our focus on exposing China had started way back in, in early April. And then, and then now that has become a very in thing in the genre. And then we also had been very focused on COVID related information in a very formatted structured way. If you see the channel, you'll see there are several fast programs, fast news programs and giving the detail in a crisp way that worked. And then third is the global. You would be surprised to see that the even Hindi news audience has become so very hungry for global news, global update. We had been doing reporting from 10 different countries at that point in time. And we have focused a large, largely on the US, China, and then what's happening in Korea. So there was a global perspective in our coverage, which people love. And it, you know, with, with the ratings coming after seven days, we all know what's working, what's not working. So it gives you fairly good idea that when you need to focus on. So that's how it, it moved along for the last 13, 14 weeks. I don't coming to, I mean, you're the CEO of the company. You are supposed to drive the business and the growth. There is this belief that, you know, news, despite all the numbers, is still undervalued. You know, it doesn't get that kind of rates, which, you know, a GEC or maybe other channels get. Would you agree with me and would you want to speak about it? Of course, I think you have hit the nail on the head. I think news is highly undervalued and in the current situation, it is going to be even more undervalued. You see the way things had happened. Newspapers have, have actually been the worst sufferer. I mean, you're, you're talking to someone who could not start a day without a newspaper, but I, now that I've caught over the habit, I don't think I'm going back to newspaper again. GECs did not have fresh programming. They've suffered. So people, and then uncertainty, all these things have driven traffic to the news channels and the news channels viewership growth has have been stupendous. And yes, coming back to this undervaluing thing, it is. I mean, for instance, if you take, if you take a regional channel, let's say in Maharashtra, Maharashtra, a regional channel, audio visual channel that actually can command only a fraction of the rates that even a city radio station can command. Now that is height of undervaluation. Here you're talking about audio only medium. Yes, it's non-intrusive. But here you're talking about an audio visual and entire Maharashtra. And then even if you see the cost structure of a television channel and a radio station, it's vastly varying. So news overall is undervalued. This is the time. I don't think that we would take the opportunity, leverage the opportunity and try and increase the rate. But I think advertisers and clients will have to start seeing the value and they will have to start believing that news pays. And if the industry, the entire industry can come together and walk towards working with each other, I think we would be able to exhibit that new space. And I think the undervaluation of news industry in India in terms of advertising rate should see some correction. One of the reasons a lot of experts attribute the segment being undervalued is that there's too much fragmentation in the segment. But then we all contribute to it. We have so many channels. Would you want to speak on that? I mean, do you agree that it is the fragmentation which is also resulting in the prices not taking that metaphor? There's a thumb rule which you can apply to Indian media sector. The thumb rule is that there is fragmentation everywhere. The top three in any genre will comfortably be viable in terms of business. The fourth and the fifth, if there are business operations are robust, if they've managed their cost well, they would still be able to make business sense out of the venture. Now the rest even advertisers don't look at. I mean, if you talk about telecom market, if there are 20 telecom news channels, I don't think the advertisers look beyond even the number two or three. Similarly, nationally, I think because there are varying advertisers and the affordability varies, you still have advertising viability in channels which are even number seven, number eight, number nine. So that creates a little bit of pressure on the advertising rate because if you have a cheaper option, you might go there. But the cheaper options, when we were four percent and now we are 10 percent market share, we understand the difference that the advertisers look at a 10 percent market share channel and a four percent market share channel. So fragmentation, according to me, have a very little effect on it. Primarily, the leaders should drive the rate. Somewhere, somebody has to take some bold step to say that, no, I am going to change it even if there's temporary loss in revenue. And then again, I'm saying that it has to be collaborative. At this point in time, the world needs to stand together and everybody has to walk to a solution-driven approach. Haroon, in the last few months, your network has really done well. It has become one of the leading networks. Your channel TV9 Bharat Varsh is doing pretty well. What kind of leadership, bold leadership decisions do you think you or your editor took that worked for you because you just spoke about taking some bold steps. So what were those bold steps that you took that worked for you? No, no. I didn't say that we've taken bold steps. But you said that you have to take bold steps sometimes to grow. No, I am saying that we've taken fundamental steps. There was no bold step. Bold step is... I mean, I'm coming to that when we talk about the future plan. Fundamental works. Another thing I always believed to be ordinary is extraordinary. We didn't want to do anything extraordinary. We already had two leading channels who are undisputed leaders for over a decade, which is Telugu and Kannada. We had gained leadership in Marathi and Gujarati over the last six months or so. And Bharat Varsh, I just explained that it is a combination of distribution. There's a significant improvement in distribution front we've done. When we changed position on Friddhish, if you go back and see that immediately the rural viewership went up. I mean, this is like as elementary as anything. We focused on marketing and promotions. One of the things that we've done, we've started doing, that's being followed by the industry now. And content has told you that it's a re-launch, a very beautiful look and feel, and focus on content which people would love to see, people would like to know. The changing taste of viewership, as I said, that the global news has become a very, very in-thing, even with the news viewers. So these all have become, and then finally, you know, the company or the CEO is as good as a team. The team has been extraordinary. They have lived up to the occasion. We have recruited some key people in the senior managerial positions, top managerial positions across the country. So everybody worked in tandem. It's only the synchronization of each one of us, our output, and that's resulted in this growth. Would you also speak about your expansion plans? Well, yeah, expansion, we were looking at a couple of more regional markets just before COVID, namely Bengali and Tamil, because with that, you would have the regional network complete. The only thing, you know, the way you divide India, there are six large language differentiated markets, which is Bengali, Marathi in the North, and Telugu, Tamil, Kannada, and Malayalam. We don't see Malayalam to be a bigger market, but if you have gone to Tamil and Bengali, we would have covered the large language differentiated market. But obviously after COVID, we had to go back to the drawing table. But the expansion really, which will unfold soon, which is what you carried this morning that Raktim has joined as Studio 9's CEO, would be on the digital domain. So the group did not have, they only have a very, just a presence in the digital side of content. But that's future. Everything will make a transition from traditional TV to the digital delivery system. That is going to happen sooner than later. So that's our focus. We're expanding the digital team. We're recruiting across the country. And we had an English news channel, which is Bangalore-based News 9, which we shut down, as you know. We are converting that into our national offering now. But it'll be only on web. So we are not going to put it. Only on the web. It's a web TV. By when is it likely to make a comeback? I think we're targeting a launch date of October 1 for this news9live.com, which is a web TV. We've now been joined by Mr. Bhattra, who's director and editor of Business World as well as founder of Exchange Familiars. It's been a long time. Varun, congratulations on helping TV9 grow and taking it to a new journey. A lot of people are very anxious, jealous, skeptical about the ratings that you're getting. How is TV9 getting these ratings? And all kinds of what-saps are floating around. So what do you have to say to people who are not being able to accept what TV9 has achieved? As you are not there, I just explained to Nazia that we only stuck to fundamentals. And because this industry is quite transparent, you have a logger where you see the content and you have a viewership numbers after 10 days that appears on your laptop. One will have to just go back and do the exercise that they'll get to know. For instance, I've just said that our focus on China, our focus on global news, that's been followed by the industry now. If you look at the prime time, you'll see that prime time is largely focused, even before this Galwan Valley had happened, even before that. With COVID, China has become a common enemy of the world. So we turned the focus in April, the rest of the industry turned the focus much later. So I think if somebody goes back and does the homework, everything is very apparent, everything is very on the face. But I learned that, I don't know about this skepticism or jealousy or whatever. I don't want to comment about it. But I did learn that TV9, Bharat Barsh was not in the consideration list in terms of review for most of the leading channels. Now, that something is complacent at its best. And then finally, some people have taken us in the consideration list and started reviewing us only when we have overtaken them. So the jealousy or it's a competitive market. I would also feel bad if somebody from below comes ahead of me and I'm a 15-year-old band or a 20-year-old brand. I would have felt bad so. But I think it's a part of the game and if one sticks to basic, I think everybody would be able to deliver the kind of growth that we've seen or everybody will be able to understand the kind of growth that we've entered. Thank you, Bharat. I want to ask you one more question. Nadia is the editor of exchangeformedia.com. I joined it because I've known you from the day I started exchangeformedia. And you know, the day you entered news broadcast media, whether it was the ABP news under Uday Shankar's leadership or when you became the CEO of Xenium and blew it. Now tell us, you also brought in very good talent on the business side and the editorial side in TV9. Tell us about how has that contributed and what kind of talent that you brought in? See, this business is all about people. Technology is, the other aspect is just an enabler and people which are one on the content side, one on the business side and the support staff. On the content and the business side, you really need good people and the business is as good as the people are. In fact, the leader or the CEO is also as good as the team is. So we had to see this brand TV9. You know that they were undisputed leaders in Telugu and Canada. Brilliant brands, but they got built on their own mostly. I mean, when I went back and searched for it, I didn't see this really concerted effort to build those brands. Sometime being an early mover, you go to a place which is unsurmountable. I mean, people can't reach there. But then with strong editorial product, you need to build the corporate entity. That is what I've tried to do. Bharatbhash was a new brand. It was struggling at four percent, four and a half percent. But then again, it is not really about content. When you're a new brand, you have to go for promotion. You have to go for sampling, distribution. So everything put together. So I've gotten people who, according to me, are the best in the industry and in all aspects. In the content, if you see that even both Canada and Marathi editors are new. We've got a new group editor as in B.V. Rao. There's a brilliant team which was existing in TV 9 Bharatbhash, which was waiting to explode, which is under the leadership of Hemant Sharma, who's a news director. And son, the editor of TV 9 Bharatbhash, I call him a magician. I mean, he's got the pulse. He knows how to communicate. So people who are within the system, Telugu, complete old team has been retained. And a group of people who have come from outside. Now it's a homogeneous, well-jailing team, which is moving as a new unit. So when you move as a new unit, you have a higher momentum. Thank you, Barun. Back to you, Nazia. Thanks, Anurad sir for joining us. Barun, I wanted to come back to the issue of China, that you were speaking earlier, that your content on China really made that difference in making your channel stand out and in the worship numbers. Would you want to speak more on it? And what kind of content were you giving out, which was different from what other channels were giving, and what sort of leads did you have on that? Okay, I will go deep into the content. Instead of my going deep into the content, I would like to invite the news director, Hemant Sharma. So he is like a veteran. I don't need to introduce him. So let's talk about the content. Greetings. Yes, tell me. Barun, you were saying that this was a big reason for you to separate India from the rest of the channels, that you were very much talking about China. Not only China, it's a global perspective. The global perspective of COVID-19. I am talking about the country that was going on in the foreign countries. After 377, I will tell you this from last August, after that we led. What was happening in Pakistan? What did Pakistan want to do in our country with 377? What kind of problems were there in Balochistan? How much was he doing in the POK? What kind of terrorist activities were going on in our country? What kind of temples were going on in Pakistan? What kind of terrorist activities were there in India? We were the only channel that sent our reporter to Pakistan. We were the only channel. Some other people sent us, but they couldn't go ahead of Lahore. But our reporter, in Pakistan, sent us a full list of reports on how to go to the temples. We were benefited from this. When China started a conflict against this country, on two levels. One was on the border, the other was behind the COVID-19. The world later came to know about it. So we first recognized the COVID-19. On 8th January, we did a big program on the COVID-19. We told the people of the country that the COVID-19 was going on in the world, but not in this country. At that time, we told them that the COVID-19 has spread in China, it has spread in the world, and after 12 days, China agreed on the 20th January. So we were the first people to keep our fingers crossed against the conflict in China. Mr. Varun Ji must have told us that Mr. Varun Ji had an idea. He was his brainchild. In the prime time, we started a program on the care and care of the country. If you are concerned, then the people of this country are concerned. The flagship program is at 9 o'clock. But the care of the country, we have been doing that for the last 100 days, only on China. First of all, we recognized that China is making a mistake and we got the benefit of it. We have been doing it for 100 days. Whether it is COVID-19, whether it has just happened in Galwan-Ghati, the problems of the country before Galwan-Ghati, how China was making a mistake, what conditions were there, when the article 370 was removed, this started after that. Is it because of internal disturbance in our country and the neighboring countries are taking advantage of it? Mr. Najia, this is a question. We don't just keep our fingers crossed on foreign matters. When the corona came, and the corona spread badly in this country, and when the government started doing politics with the corona, then TV9 India was the first channel that told us that there is a problem in Bengal. There are dead soldiers in Bengal. There is no disposal of dead bodies in Bengal. We were the first people there. And Mr. Varun Ji will tell you that our market share is number one in Kolkata because of this. We are nationally 4-5, but in Bengal and Kolkata, we are number one. Actually, I wanted to speak to you about regional markets. You are one of the leaders in regional markets. Regional, they say, even when we come back to print, I want to go back to our business. We are in the national market now. In national, we were discussing for a long time. But a lot of players say that the future of journalism is in regional domain because even apps are becoming regional. Regional newspapers are doing much better than the national newspapers. So would you want to speak about this whole concept of going regional? Regional, it's not today. If you see, I don't recall the reports clearly now. When I was here in media industry earlier, during 2007 and 2013 with Zee, that time, also, if you see, even the growth of television was largely contributed by the growth in regional markets. And regional markets, as I said, that you can break the country in three regions. One is Hindi-speaking. One is small language differentiated markets, which is an Oriya, which is a Bhochpuri, which may be a Gujarat. And there are six large language differentiated markets. So these have very, very large consumption of content in their native language. So that has been propelling the growth, not only in news, also in GEC. And going forward, it's not journalism is going to be in regional. With digitization, the news consumption also is becoming very, very localized, hyper-local. So when you go hyper-local, it's a regional language. Even in India, if you take Hindi and the six top languages, which I said, they contribute to about 90% of the total population. We'll speak the seven languages. So it'll move to regional. What is in the TV news context, what I see as regional is that, you see, you would agree that Hindi news television has really, really suffered a lot over the last two, three years because the early adopters were digital consumers who were mostly English consumers. So they've shifted from there. For the next 10 years, Hindi and regional television in news will continue to grow. Maybe they'll follow the path which the print has followed over the last 10 years, but it'll slow down. It's about English. Sorry, English news. So it'll continue to grow in the regional markets because India's population is there and there's a consumption of content in mother tongue. The propensity would remain in India. And the second thing is, I'll compliment Mr. Varun in this regard, that when regional forces are strong, you see, our policy, the national forces have started to break a lot. After the 1980s, regional forces were born. Telugu pride was born, Kannada pride was born, Bengal pride was born, U.P. was born. So I think that when regional forces are born, politics and politics are in a regional state. So the regional market is also increasing. And the market is also increasing. The land of Varun is increasing. So how much is regional actually contributing to the growth right now? For us? Yeah. No. For you, it is of course quite significant. But in general, if I talk of the industry, how much would you attribute growth of any channel, any network to the regional segment? No. See, still Hindi is a large market followed by those for Telugu, Kannada, Tamil, Bengali and Marathi. For us, TVN and Bharat Bas is a news channel. If you talk about our growth now, obviously the growth would be, absolute growth would be largely contributed by a new channel because you're growing on a smaller base. As of now, till last year, 95% of our revenue, if not 99% of our revenue were all from regional markets. This year, it'll come down to maybe about 70%. But going forward, if you see our kind of network in the current status, there are four regional channels and one Hindi channel. Largely, it'll be one is to one in a steady state. So the revenue that you garner of this four regional channels, it'll be equivalent to one Hindi channel. So that is possibly the ratio. A leading Bengali channel, the kind of revenue it does, like to like comparison in the Hindi genre, when it is Hindi, it'll be four to five times. So three or four regional markets put together would be equal to four or five, would be equal to the national market, which is Hindi. You also said you are likely to expand to some more markets. Is COVID, what has happened in the last few months, is it actually a good time to expand? Because I don't really get too many appointment news from any network these days except from yours. So you are still hiring people, you are still expanding, which is actually good for our economy because not many organizations are expanding right now. But what is the strategy? What is your plan? So you see first, when you go through such kind of pandemic or economic recession, which I've seen twice in my life, in my professional career, 9-11 time when I was general manager in India Today Group, I've seen that. I've also seen a recession of 2008-09 when I was with Zee News. Business Today, the India Today Group wasn't a listed company, but Zee was a listed company. So if you go back and see that what happened during 2008-09, the Zee News Limited, which was a listed company, continued to grow both in revenue and in profitability. Even that time we were recruiting people, we were launching channel while the industry was retrenching. So fundamentally, when in a recession, if you can afford it, your any expansion, it's a biased market. Your any expansion comes cheaper if you can sustain that loss with your bottom line or with your investment. And you become judicious, you don't become absolutely, you don't cut down on your expenses completely. You've got to differentiate between what is expense and what is investments. Investments will come at cheaper rate during this session. So if you can afford your bottom line, your investment can afford, you should move judiciously towards expansion during recession. That is the fundamental thing which I've always applied. And now, as I said that the digital is what the country is saying, the revenue, digital revenue is tip of the iceberg. According to me, it'll grow. And eventually all these linear TV channels will shift to digital. As we said that we're shutting, we shut down the English one and we're going into the digital mode. That will happen over the next four, five years. And we are late. We're late by about 15 years where we are starting the others. Some of the competitions have started 15 years back. So we had plans for traditional TV launches in two regions as we said. So we held back that plan given the recession. But on the digital front, we see it's far more prudent. It's far more advantageous to us to continue with the expansion now and sort of leverage this high news appetite which will continue to be there in the country for at least for next one year. But there's a lot of joke in this too. When the world is stopping the expansion, it's slowing down, so we're going into the expansion. That's what I'm asking Mr. Varun. Is this Mr. Varun's magician approach to leadership? No, it is a judicious call that you take. And then you have to showcase when you reach your investors or promoters. By the way, we walked with a set of promoters. I mean, I have never got that brief. I've worked in this industry for close to 30 years. The first thing I was told when I picked up this network, he said that Varun, respect is the first thing that we want to do. Returns and revenue can follow. And I have not heard as a CEO that any promoter is talking in that language. And I lived up to this. On my part, I've said that not to worry, respect and the credential is the first aspect of a news network. Revenue and returns will follow if you do your business well. So expansion is we have to showcase that we can sustain. We have to showcase that we can actually fund ourselves or justify the additional funding which is coming in. So everybody would count every money very judiciously very carefully now. So despite that, we've decided to go forward with this digital expansion. Varun, I really wish you all the best. We were live and we have some questions, but we're also out of time because we had scheduled it for half an hour. We were already 40 minutes into the discussion. So I'll take one question and if you allow me and then maybe we can close it. Yes, sure. So this question has come from an anonymous attendee person has not given the name. What is the plan for sustain is post COVID when people start their regular work in travel? What innovation is required for the news industry? Generally in marketing, everything is based on a habit, which needs individual to take up something on a regular basis. Varun, you want to answer that? Yes, I didn't get the question. The gentleman has made a statement. Basically they're asking what would be a good sustain is planned post COVID. See, everything has to change from now on. As I said, my first approach, which I have started writing to industry and all, first approach is everybody has to come together at least for the foreseeable future. We have to have partnership. We have to have leverage. We have to leverage each other's strength. We have to forget the competitive nature of ours for the time being. The more we collaborate, the better we are. And the other thing which happens in all kinds of economic recession, which is again a thumb. You got to look at solution-driven approach. Instead of addressing problems and applying the same method that you applied to address problems, you got to look at solution-driven approach. And this new normal, which they're saying that there are many corrections COVID has brought into us. I mean, your personal health is of extreme importance. We had to wait for COVID to come and tell us that look after yourself. So those are irrespective of whether you are running a news channel or you're running a GEC channel or you're running a FMCG product. We have to imbibe many corrections within ourselves post COVID. Collectively as individuals, as corporate houses, as an economy, as a society, everywhere. Thank you so much, Varun. Thank you so much, Mr. Malik for speaking to us. And on that positive note that we should right now look for solutions and not just talk about problems and wishing Varun and the entire team of Network 9, TV9, all the best. I would like to conclude this webinar for today. Maybe we'll catch up again some other day. Thank you. One final thing, Nazia. Thank you very much for this from our side. And I must tell you that you've asked, you've hit the nails on the head mostly. You've asked all relevant questions. I hope that our answers could live up to your expectations. Absolutely. And if there's anything left, please feel free to talk to us. And any question comes to you further down the line. We would be happy to take those questions in. And we'll meet again when India Market's leadership will be with India. We will definitely meet. And I really sincerely from bottom of my heart, I wish you all the best. And I hope we do another program when you complete your one year. And your market share is even more. And you are in the top two, top three. I mean that's the best. There's no confusion in this, Nazia. There's no confusion. We've been born as a leader in India Market. We've been a leader in Telugu. We've been a leader in Kannada. We've been a leader in Marathi. We've been a leader in Gujjati. We're gradually becoming a leader here. There's no confusion in this. I don't have any confusion. I'm giving you the best wishes. Thank you. All the best for your family and yourself. And everybody who is watching it, please take care of yourself. Look after yourself. Thank you very much. Thank you. Thanks for taking our time for us. Thank you. Namaskar.