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Tag: Venky Mysore

  • Red Chillies appoints Gaurav Verma as chief revenue officer

    Red Chillies appoints Gaurav Verma as chief revenue officer

    MUMBAI: Red Chillies Entertainment has appointed Gaurav Verma as its new chief revenue officer. 

     

    Verma, comes with an immense experience in exhibition and distribution. In the past seven years he has spearheaded the distribution of over 100 films in six major languages. Verma has been involved with some of the biggest and path breaking films like Raajneeti, Paan Singh Tomar, Delhi Belly, Barfi, Ship Of Theseus and Chennai Express.

     

    In his previous role as Disney executive director theatrical distribution, Verma was handling worldwide theatrical distribution. Before Disney, Gaurav was head of distribution at PVR Pictures. 

     

    Making the announcement, RCE CEO Venky Mysore said, “As we work towards becoming a full-fledged studio, senior executive, with proven track records, such as Gaurav will play key roles. Our main endeavour is to develop high quality content and to disseminate it in ways that consumers are demanding it.”

     

  • Discovery channel presents its new india series LIVING WITH KKR

    Discovery channel presents its new india series LIVING WITH KKR

    Discovery Channel will present the riveting story of IPL Team Kolkata Knight Riders’ transformation, from a group of struggling players in the early years to their emergence as formidable champion of the league in its new series LIVING WITH KKR.

    The four-part series LIVING WITH KKRwill air from February 24 to 27 at 8 pm on Discovery Channel.

    The series traces the emotional journey of the team from its unsuccessful first three years to its ultimate redemption as IPL champions. The viewers will witness candid admission by their favourite star Shah Rukh Khan – his worst fears, heart-rendingmoments and record celebrations. They will hear straight from Shah Rukh Khan the reasons for selecting Kolkata for his team, itsarduous climb, the tears from constant defeats, adapting to new format and relationships that didn’t last.

    The series also brings to the fore the unseen role played by co-owners Juhi Chawla and Jay Mehta, the daring new decisions of its CEO Venky Mysore, the immense pressure absorbed by its captain Gautam Gambhir and the passion of the players, coaches and fans. In the series, Discovery Channel will also provide insights into the IPL phenomenon; the electrifying passion, poignant drama, astonishing opportunities and consummate glitz.

    Shah Rukh Khan, owner of KKR and Bollywood superstar,said, “Kolkata Knight Riders is not just a cricket team of IPL for us. It has been a family since the inception. Each and everyone involved with KKR since the beginning has had a journey worth a mention. I am thrilled to share this journey of tears, sorrow, strength and victory with everyone. On behalf of Juhi, Jay and myself, I would like to thank the different players from all seasons of IPL, the coaches, physicians, the management and everyone else who has been a part of this wonderful team for doing what they have done over the years. I also thank the very loyal fans who have supported us and loved us no matter what. And special thanks to Discovery for getting our story across to the people around the world.”

        
    Speaking on the series, Rahul Johri, senior vice president and general manager – South Asia and Head of Revenue, Pan-Regional Ad Sales and Southeast Asia, Discovery Networks Asia-Pacific says, “Discovery Channel is recognised for its path-breaking and entertaining programmes. There is immense appetite amongst millions of cricket fans in India to gain up-close and personal access on what goes beyond the cricketing field.LIVING WITH KKRwill present the inspiring story of the team’s defeat, endeavour and absolute triumph. It will provide anunparalleled access to the all-embracing and dreamlike journey made by KKR players, coaches, fans and Shah Rukh Khan.”

    “There are moments in our lives that we always want to have with us as a memory of that time. Living With KKR is exactly that for us. The journey that KKR has had since the beginning of IPL has been unique. I am glad that we have a story to tell and with the help of Discovery Channel we will share it with the world. Hope everyone enjoys watching it as much as we enjoyed being a part of this journey that continues.” – saysVenky Mysore, CEO and MD, KKR.

    LIVING WITH KKRhas been produced for Discovery Channel by Engage Sports Media.

     

  • IPL’s brand value up by 4%; CSK replaces Mumbai as the most valuable: Brand Finance

    MUMBAI: The Indian Premier League (IPL)‘s brand value has grown for the first time in four years to $3.03 billion, up from $2.92 billion last year a rise of four per cent. But it is still a far cry from $4.13 billion in 2010. The nine franchisees‘ total brand value has reached $325.8 million this year from $321.12 million last year.

    The bigger question though is whether the league is fit for the long run. Also sweeping ethical infractions under the carpet is not an option according to a brand valuation report on the IPL made by consulting firm Brand Finance. The lacunae in transparency and accountability in the IPL ecosystem which drives trust and alignment amongst stakeholders remains to be addressed in full measure and lies beneath the waters as a significant unmitigated risk.

    The Chennai Super Kings (CSK) is the most valuable IPL franchise. Their value has grown to $45.42 million up slightly from $45.28 million last year. There are three pillars that brand finance used for evaluating a franchises‘ brand value – cricket excellence, corporate governance and marketing excellence and commercial strategy. India Cements joint president marketing Rakesh Singh noted that the franchise aims to be active throughout the year. “”Our aim is that at least every second month there should be an activity. The Chennai Super Kings cannot be just about two months. So we do things across the year that touches different segments of society”.

    CSK‘s aim is to look at the bigger picture and be a sports brand by going beyond just cricket. “We feel that it is important that when the CSK brand engages with constituents it should not be only about cricket. This way CSK will be built as a sports brand” said Singh.

    The franchise that has grown the most in value has been the defending champions Kolkata Knight Riders (KKR) which saw a 15.2 per cent jump to $44.98 million from $39.03 million last year putting it in second spot compared to fourth last year. In an interview with Indiantelevision.com KKR CEO Venky Mysore said that the aim over the past two years had been to function like a corporate. That meant bringing in systems and processes and having more transparency. The last two years have seen a dramatic change in fortune of the franchise on the field which has translated into better off the field perception and value.

    On the other hand the brand value of Mumbai Indians and the Royal Challengers Bangalore has fallen. The Mukesh Ambani owned franchise has seen its value fall to $44.62 million from $48.21 million last year. Last year it was in the top spot. Nonetheless Brand Finance maintains that the franchise along with CSK and KKR is leading in terms of value creation. Meanwhile the Vijay Mallya owned franchise‘s value has fallen to 37.81 million from $41.15 million but it nonetheless holds a lot of promise. These are the only two franchises whose brand value has fallen.

    Delhi Daredevils which is currently struggling on the field holds promise as their brand value jump to $34.22 million from 32.19 million last year. The new franchise Sunrisers Hyderabad, owned by Sun TV is valued at $31.49 million and also holds promise.

    Kings XI Punjab which has sorted out its legal issues with the BCCI saw a 7.4 per cent jump in value to $30.78 million from $28.68 million. But Brand Finance notes that it continues struggling to create value. The franchise expects that now that things are sorted out the future will be better in terms of areas like sponsorship revenue. The franchises CEO Colonel Arvinder Singh says that all its marketing programmes as well as media and social interactions are positioned keeping in mind the loyal Punjabi Fan. “We have concentrated on being a fan centric team not only through regular engagement but also through on ground social programs such as women‘s empowerment. It is this fan centric approach that has resulted in an increase in brand value for the franchise. We shall also be doing a lot more in this field to further enhance our brand value.”

    The Sahara owned Pune Warriors India‘s brand value is also struggling. Its brand value is up marginally by two per cent to $29.45 million. The Rajasthan Royals continue to languish in last position with their value being practically flat at $27.05 million.

    Brand Finance global strategy director M Unni Krishnan said that after having witnessed a steep fall in its long-term value of over a billion dollars from its peak, IPL‘s trust capital seems to hold steady at $3.03 billion compared to $2.9 billion last year.

    “The relative stability at these lower levels can be largely attributed to efforts being put in by the BCCI as well as the franchisees to bring consistency in the cricketing product enhance fan engagement and loyalty through wide spread marketing efforts. The learning curve has been steep and some clubs seem to have cracked the code across various marketing, cricketing and business performance drivers.”

    He adds that with the franchisees entering the sixth year of its operations, they face an acid test of commercial sustenance. Their destiny is intertwined with the IPL‘s as a whole.

    He noted that the league is trying to claw its way back with operational improvements. But the trust flows with stakeholders will eventually determine the health of the IPL‘s long-term cash flows. He warns that while the short-term operational improvements are encouraging, they need to be aligned to the strategic canvas of what IPL really means for the emerging Indian identity and cricket as an international sport which can spread opportunity and value in a fair and equitable way.

    “IPL is a means towards this greater good and not an end in itself. Whilst all organisations go through highs and lows the real question to be asked is one of sustainability and endurance. Is IPL able to rise to its higher calling and is it fit for the long run?”

  • ‘There are no plans to sell stake’ :KKR CEO Venky Mysore

    ‘There are no plans to sell stake’ :KKR CEO Venky Mysore

     Having won the previous edition of the IPL, Kolkata Knight Riders (KKR) is gung ho about defending the title. On the business side, the franchise is protected from the economic slowdown having done three-year deals with sponsors that will only expire at the end of this season.

     

    KKR CEO Venky Mysore has focused on making sure that KKR functions like a corporate. That means putting in systems and processes both on the revenue side and on the player front.

     

    Indiantelevision.com‘s Ashwin Pinto caught up with Mysore to get his take on the franchise‘s progress. Contrary to media reports, he maintains that the franchise currently doesn‘t have any plans to dilute stake.

     

    Excerpts:

     

    Q. Reports indicate that KKR might bring in a strategic investor?

    A: There is no truth to that at all. It does not make any sense whatsoever. There are no plans to sell stake.

     

    Q. Were there challenges early on in the first few seasons in terms of brand building and perception with KKR not doing well on the field?

    A: It is a fact that we were not performing at our potential. After three seasons we were the worst performing team. Over the last two years, the journey is something that we are quite proud of. A transformation took place. We changed the entire team. For the first time we qualified for the playoffs and Champions League Twenty20. Then of course, we won the event last season. The brand has also grown as a result.

     

    Q. With your appointment KKR‘s aim was to corporatise things. Is the franchise being run more professionally now?

    A: That is what we have aimed to do. We have looked at KKR as a business. Sports entertainment is our product. Behind the scenes, the aim has been to run it as a team and as a genuine business. The franchise model of the IPL is exciting and fascinating.

     

    There is a huge opportunity to leverage the brand we have built. We also want to continue building on our foundation which is the fan base. On both counts we worked hard, put a lot of new initiatives in place to build fan base and extend our brand so that sponsors who associate with us have the opportunity to benefit from the brand.

     

    When we do this, new revenue streams are generated. It has to be run as a team business as governance requirements are quite significant these days. We have to pay attention to that. We are proud of what we have done across the board but there is still work to be done.

     

    Q. I believe that after coming in, you overhauled systems and processes to an extent on the business side. Could you shed light on that?

    A. A big chunk of revenue comes from sponsorship. The key was to create a portfolio of brands that we associate with. In an ideal world you want brands that have synergies with each other and not just with KKR. You build a common platform on which each of the brands can jump on.

     

    You can run events and activities that are common to brands like a meet and greet and press conferences. We have the largest number of brands among the IPL franchises – 22 that we work with. This has helped us not only generate new revenue but also leverage and activate our brand that the association with each brand has been strong.

     

    ‘I do not know about other franchises, but our revenue generation through sponsorship and ticket sales is significantly higher than central revenue’

     

    Q. How is having Shah Rukh Khan as an owner helping? Is he hands on in terms of operations?

    A. If he wanted to be hands on, he would not have brought in somebody like me. We have to do our job, but having him is a fantastic experience.

     

    Q. Are sponsors still coming on the back of Shah Rukh Khan?

    A. Shah Rukh is Shah Rukh. You cannot take anything away from that. We have the association and strength that comes from him being in the background. But our endeavour was to make sure that we bring in sponsors on the strength of KKR. We have succeeded largely in that area.

     

    Q. Does the fact that you do not have a big corporate house backing you mean that you have to be prudent in spending?

    A. Of course! You run it like a business. There has to be a lot of discipline. One just has to manage it like any other business and work through budgets and keep going.

     

    Q. Your aim is have revenue growth of 25 per cent. What is the gameplan to achieve this?

    A. It has to be a combination of efforts. One is to increase the existing revenue streams. Another is with ticketing. There are new opportunities for packaging and improving the fan experience further. On the other hand, it is also about looking at new streams of revenue like merchandising and licensing.

     

    Q. Where does the franchise stand in terms of sponsorships?

    A. We are fortunate that when we did deals in 2011, it was for three years. Therefore there are no new sponsorship deals other than Pepsi which came in this year. After this season we will figure out what happens. Most of our sponsors are likely to continue. Other companies have expressed interest.

     

    Q. How do you cut through clutter?

    A. There is no clutter. Each brand that is with us has its own target markets and strategy. It is the association with us that takes this to another level.

     

    Q. Could you talk about how the Nokia association has benefited both?

    A. Nokia has been with us from day one. Nokia has said that the KKR association has been hugely beneficial. We have also benefited greatly because of the manner in which Nokia activates the brand.

     

    Q. In terms of local revenue, is your ticket revenue more compared to other franchises as the stadium is bigger?

    A. I do not know about other franchises, but our revenue generation through sponsorship and ticket sales is significantly higher than central revenue.

     

    Q. Could you talk about developing licensing and merchandising?

    A. It is an on-going process. First, you build your fan base and your brand. It is only on the basis of this that licensing and merchandising will pick up. We have a range of products. We have a KKR store online. There is a tremendous potential for growth.

     

    Q. How did the new slogan ‘One Team. One Pledge’ came about’?

    A. It is about a marketing strategy. Last year we had ‘New Don New Knights’ which was a new theme. Now the emphasis is on the team and how we take it to the next level. The alignment of the team being one pledge means it will go out and give its best. That is the whole thought process behind it.

     

  • A case for disruptive innovations

    A case for disruptive innovations

    MUMBAI: Disruptive innovations like the Indian Premier League (IPL) can break through a cluttered market, several experts said.

    Kolkata Knight Riders CEO Venky Mysore noted that the IPL was about challenging the norm. “Viewership has leapt sixfold and the reach has gone beyond traditional cricket lovers. From a business perspective, it was about creating a platform to reach out to a passionate public. The IPL was packaged to catch the people’s attention,” he said.

    Particpating in a panel discussion at The Mindshare Brand Equity Compass, LinkedIn India country manager Hari V Krishnan noted that Linkedin created a disruptive innovation in the talent economy. The traditional ways of employment did not give transparency. “We extract insight from data. We are not just about helping somebody find a job but also helping them become more productive in their jobs,” he elaborated.

    Disruptive innovations can be fought by rival companies by moving into another arena to strike. This is what Cirque Du Soleil did in the circus arena. Microsoft joint MD Hemant Sachdev said that innovation is what makes a company tick as it impacts the consumer experience. “Going forward, the Natural User Interface will be important like Xbox. It is a community that is real and experiential. Telecom is another example of disruptive innovation which gives real value not just to businesses but also to consumers.”

    Leaders must provide fertile ground for innovations to grow. Companies, in the process, must be more open to failures and take the risk of adopting disruptive trends so that they break patterns. The interesting thing is that while 95 per cent of ideas fail, innovation is still the only way to succeed.