MUMBAI: Outsourcing is no longer restricted to IT, as it now enters global marketing. The Prannoy Roy promoted NDTV Ltd has entered this arena of outsourcing by forging an alliance with Genpact (formerly GE Capital International Services) to offer media outsourcing services to enterprises worldwide.
With the emergence of digital technologies looking at revolutionising the media and entertainment market, the alliance between the NDTV and Genpact will focus on providing cost effective, high quality media services to global and regional media and entertainment companies in areas like editing, digitisation and closed captioning, according to a posting on the Bombay Stock Exchange (BSE) site.
According to a press release posted on ndtvprofit.com, the joint venture aims to deliver value and business impact to global media and entertainment customers. The venture will combine NDTV’s brand image, domain knowledge and world-class media skill sets with Genpact’s offshore experience, global delivery capabilities, sales and marketing infrastructure, and reputation for operational excellence.
“We are very excited about this new venture and believe that there are significant untapped opportunities around the world. We hope to break new frontiers and push India’s media envelope even further,” said Roy.
“Our partner, Genpact and their outstanding experience and reputation in global business processes, combined with NDTV’s commitment to quality and cutting-edge technology, should deliver significant value for media and entertainment players around the world,” Roy added.
Genpact president Pramod Bhasin said, “This is a landmark deal, the first of its kind to offer outsourcing solutions for the media industry. Through our partnership with NDTV, our customers will gain access to customized solutions and be able to further benefit from our global expertise and cost-effective service delivery.
He added, “With 20 years of experience, NDTV’s domain knowledge will provide this venture a solid foundation to pursue opportunities in the growing media space.”
The entire Global Media & Entertainment Industry was estimated at $1,340 billion at the end of 2005 and is expected to grow to $1,777 billion by end of 2009. In addition, there are a number of drivers that are changing the dynamics for the industry, such as the increasing prevalence of HDTV, digital content and on-demand programming.
The changing dynamics have created a need for media companies to ensure that their content is digitized and available for customers to access and use. There is also pressure on media companies globally to cut costs and outsourcing is one of the established means to achieve this.
The venture between NDTV and Genpact will be the first to offer tailored outsourcing solutions to the media industry, allowing companies to respond to these changes quicker, faster and cheaper than would otherwise be possible.
General Electric Co. (GE) had spun off its outsourcing subsidiary, Genpact, two years ago. With a direct sales network spanning Europe, North America and Asia and headquartered in Gurgoan, Genpact has operations centers across India as well as in China, Hungary, Romania, the United States and Mexico.
Genpact provides a wide range of outsourcing services including sales and marketing analytics, customer services, supply chain and aftermarket services, financial services core operations, financial services collections, finance and accounting, information technology services and enterprise application services and program management solutions.
