The star was ‘struck’!

IIPM Publication

It has always been a trend with Chandra – while other players are struggling to sustain their positions, Chandra has always magically looked into the future and caught both, competition & market watchers by surprise. There have been precious few years in Zee’s long run that have not witnessed one or the other pathbreaking venture. If one balmy October day in 1992 saw India’s first private satellite channel – Zee TV going on-air, subsequent years saw the launch of the first Hindi cinema channel (Zee Cinema), first 24-hour Hindi News Channel (Zee News), first Direct To home (Dish TV), et al. And 2007 marked the year when Chandra took upon himself the task to change the face of cricket in India. He launched a parallel cricket League called the Indian Cricket League soon after the shameful Caribbean debacle of the ‘Men in Blue’.

The Zee saga may seem awe-inspiring, but the journey has not been rosy at all. Despite being battered down by competition and lying low for many years, Chandra simply did not give up. He kept innovating and prepared his strategies silently for the future. And the financial year 2006-07 marked the year of the resurrection for this media conglomerate.

It was some time in May last year that the honchos at Star looked ruffled. After six long years of failure, Zee had managed to dislodge Star from the number one slot. Though it was just for one week and by a few points in the prime time band, it was reason enough for Zee to celebrate. For Star, which had become the undisputable king of the tele-tube, it came in as a rude shock. But it was far from being coincidental, for Zee had already moved past Sony, which was sitting pretty at number 2 for many years. However, Star Plus’ position was still largely undisputed until recently. Now that seems to be history!

According to the figures of TAM Media Research, last year, around the same time, Star Plus had a market share of a whopping 58%. Today, the share has dropped to a depressing 38.9% and Zee (at 25.6%) is not very far away. Add to that the recent turmoil in Star. With both their iconic CEOs – Sameer Nair and Peter Mukerjea – who were credited with turning around Star in India, bidding goodbye to the group, Zee’s chances look all the more bright now.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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