Book Review : The Indian Media Business {3rd Ed.}


BOOK REVIEW : THE INDIAN MEDIA BUSINESS

BY : VANITA KOHLI-KHANDEKAR







Image result for the indian media business vanita kohli 3rd edition


ABOUT THE AUTHOR : 

Vanita Kohli-Khandekar is a media specialist and writer. She has been tracking the Indian media and entertainment business for over a decade. Currently she is a columnist and writer for Business Standard and Mid-Day. Her earlier stints include one at Businessworld and Ernst & Young. A Cambridge University fellow (2000), Vanita teaches at some of the top communication schools in India.



THE BOOK
The book is, in simple terms, a reference book on the entire Media Landscape of India; at the same time, it is also a book that teaches you the basics of the game, and then proceeds to take you into the inner working and nut&bolts of this industry and all its constituent sectors. It traces the development of each sector right from its beginnings, right from the start, and develops right upto the present time. It furthermore  also covers regulatory and legal aspects of the business, making it a one-step guide to this industry, and a must read for anyone even remotely connected with Indian Business in any function; more so for Sales and Marketing Professionals, for whom this should be required reading. 


It devotes one chapter on each sector of the Media Business - Print, Television, Film, Music, Radio, Telecommunications, Internet, Out-of-Home, and Events. Within these chapters, the book uses a standard layout for all chapters: introducing the industry, a brief but powerfully hitting strategic summary, then tracing the entire industry from its origins to the modern day {till 2009, when the book was penned}; as well as its operational realities & how the business works, topping it off with a reasonably thorough look at the regulatory history as well as current landscape of each sector. After this data supported {extensively data supported, may I add} portion, we are treated to Case Studies from India and the World, which are very relevant and pertinent. All in all, a complete reference guide for the Indian Media Business!


THE REVIEW
First of all, the content is a bit dated – there is an updated version now available, which is recommended for purchase.  {I shall be reviewing that as well on my website}. But that apart, there is almost nothing that is bad, or even debatable, or even far-fetched. This is a superb book that is factual, data supported and full of  pertinent information for the interested reader.

1.  Print Media : “The Indian Print Business Is In The Best Years Of Its Evolution” The book starts with the Print Media, and packs a surprise right on the first page for the uninitiated - India is one of the fastest growing newspaper markets in the world. I liked 2 things in this chapter : one, content quality and corruption / issues and challenges – which she has taken head-on in no uncertain terms; and the other the short and succinct analysis of why Print is not likely to fade in India
2.   Television : “The Market Will Remain About Broadcasting For Very Long” This is a rather detailed chapter, which could have been better, in my opinion – but the author was constrained by having to cover all points as per the chapter layout planned for each sector. My main take-away – the rise of the Regional Channels in the industry, as well as the advertising section. The rise of regional channels leaves you wanting to know more, which is only a tantalizing glimpse in the book!
3.  Films : “There Has Never Been A Better Time To Be In The Movie Business” Most of us know zilch about this sector and how it operates. Well, you’ve got the right book for understanding this segment; the piece de resistance of the book for me – along with the Out-Of-Home segment. Here again we run into the rise of the regional cinema, in a short tantalizing look; confirming that there is a case for the Author to devote more space to the regional language media, whose rise does feature, but gets drowned in the other stuff. That apart, this chapter offers a complete understanding of the business of Movies from content to distribution, attendant risks, challenges and issues – which will not be found anywhere else as far as I am aware.
4.  Music : “The Music Industry Is Finally Enjoying The Growth Possibilities Created By New Media” This is the one single chapter I look forward to reading in the new edition… that should sum it up. No further comments here!
5.  Radio :  “The Radio Business Needs To Move On To The Next Stage” The second take-away from the book; the unsung Medium in the Indian Media story, which is normally dominated by Television and Print in the Media. This chapter has the Author in her element, as she goes about tracing the challenges and pluses, which are reasonably well covered. Again, in the opening strategy section, we get a glimpse of deep insight as the author notes with pain the absence of true localization in the content – leaving the reader with a sigh of dissatisfaction, at the prospect of having a more analytical look into this Medium… let us see if the next edition is upto the mark in this
6.  Telecommunications : “Telecom’s Ability To Master The Media Business Will Depend On Its Flexibility” So much has changed, that it would be futile to go into this here. Suffice it to say that the chapter gives you a hold on this industry {unfortunately my industry L }, its basics and its history. And yes, its regulatory mess.
7.  The Internet : “The Coming Years Will Be Tough For The Internet As A Medium” Written in 2009, current 2015, look above in point no 6. Repeat most part here. Enough said; will look in the review of the current edition!
8.  Out Of Home : “The Similarities Between Out Of Home and Cable TV Are Startling” This is the chapter, this is the sole reason you should read the book… the least understood and most brutal area of Media. And one of the most ubiquitous in terms of customer interaction points. The chapter takes you deep into this business, into its growth, its unregulated and fragmented mess, its potential as well as engaging case studies of how a growing economy of the 90s onwards created both a mess as well as space and opportunities.  
9.  Events : “Everything is an Event” – again, an updated edition is sure to have more masala as events have now grown quite a bit into various streams and industries, so passing up any comment here. Repeat points 5 and 6 here, in short – understand the basics of the business!

SUMMARY
In short, I can say truthfully that this is a primer book; one that gives the reader a thorough and painstaking look at the constituent factors and operational realities, challenges, regulations and history of each Media segment. The sad part is that it could have done all that, and gone into greater detail on some strategic aspects, which I shall cover after reading the updated edition – perhaps they will find justice in the new edition! All in all, a vital and important contribution to the literature on Indian Media!

Comments

Popular posts from this blog

PK, The Movie : One Of The Best...

Pink Movie - Asking The Right Questions Of The Man!