Ashok Ogra
Till as late as the 1980s the Indian economy was famously called the caged tiger. Indian business success was a function of ambition, licenses and an understanding of the bureaucratic system. No wonder, entrepreneurship was subdued, capital was scarce and India had few business success stories.
However, it all changed in 1991 when the then Finance Minister Manmohan Singh ushered in major economic reforms: Liberalization, Privatization and Globalization (LPG).
However, what truly stirred the entrepreneurial spirit among the business community were the concluding remarks of Singh’s historic budget speech: ‘Let the whole world hear it loud and clear. India is now wide awake. We shall prevail. We shall overcome.’
As expected, it unleashed latent entrepreneurial spirit among Indians. There was new confidence, excitement and ambition to expand the current businesses and or start a new venture.
In the remote corner of North India – in the state of Haryana- Goenka family were into agro- commodities business since 1890. When the young Subash Chandra came of age, he along with his younger brother LaxmiNarain diversified the business into packaging and lamination under the banner of Essel Group in 1989. Essel is derived from Subash&Laxmi (SL), and also stands for Educational Sports & Science Exhibition land.
The 1990s also saw the advent of satellite television leading to rapid growth of the media and entertainment industry. During the first 1991 Gulf war, one could access CNN signal via a dish antenna sitting in India. The live images left indelible impressions on Chandra, and he felt inspired to get into satellite broadcasting. He had just turned 41. What follows is comprehensively narrated by well-known media educator Dr.SurbhiDahiya in the book THE HOUSE THAT ZEE BUILT?
According to the author, ‘Subash Chandra had watched CNN in the office of Ashok Kurien, an advertising executive who was marketing Essel World. Kurien recalls Chandra asking him whether launching a private television channel like CNN was possible in India. Kurien had replied that Chandra could make it happen and that he would help him.’
It was a bold adventure for someone belonging to a mofussil town – perhaps hearing the word ‘satellite’ for the first time.
In telling details, Surabhi refers to pre-launch drama: ‘In December, 1991, Chandra and Kurien flew to Hong Kong for a fixed meeting with the businessman Richard Li, who was to supply the transponder. Nothing went as planned. Li refused the offer with a view that the business opportunity would not yield much profit in India.’
But Chandra had already made up his mind to get into the TV business: ”the fear of failure wasn’t there in me, since there was no knowledge about anything. After some discussions, Li agreed.”
Thus was born India’s first private TV channel in October 1992: Zee TV ushered in a new era of entertainment in the country. This is how Chandra expressed this historic moment: “reaching entertainment to the homes of people -with this conviction in my heart, I had made a start.” In essence, Zee TV became a “public movement.”
In those early years Chandra would appear unannounced in the audience of an Antakshari show. He wanted to internalize the brand and understand firsthand the way programs get produced and broadcast.
Based on rigorous research and interactions with ZEE management and other industry experts, Surabhi has done a decent job in chronicling the entire growth story of ZEE TV: ‘Subash Chandra who dared to dream big created not just an organization, but an institution, which revolutionized entertainment business in India?’
What emerges from the book is the mind of an entrepreneur, his vision, management style and his bias for action.
Not to rest on the laurels earned, Chandra launched India’s first private news show ‘ZEE News’ in 1994. He entrusted this new vertical to LaxmiNarain who with his endearing demeanour attracted some of the finest journalists to work for the network.
Zee made its international debut in the UK in 1995. Initially, Chandra partnered with the STAR group. Soon, Rupert Murdoch’s News Corp Ltd acquired the rights to distribute Star TV’s content. With News Corp as its partner, Zee founded Siticable in 1996 with JawaharGoel – Chandra’s younger brother- driving the initiative with great success. In March 2000, Zee bought News Corp’s stake in the broadcasting business and Siticable.
Surabhi attributes the early success ZEE achieved to the strategy of focusing on aggressive localization and distribution, on air self promotion, exporting brand to new technological platforms etc. Zee believes in remaining relevant.
However, what remains unanswered in the book is the equation between Zee as a mother brand, and its sub-brands as reflected in its serials/programs. If content is the king, does it mean that program loyalty overrides the mother brand? Do audiences tune in to channels or programs?
Writing this book must have posed a huge challenge to Surabhi as the story of ZEE is closely intertwined with its founder Chairman but she has managed to achieve a decent balance- successfully blending the story of ZEE with charismatic founder Chandra driving it for almost 30 years.
Rich in information including financial data (though at times figures and charts overwhelm a reader), the author also refers to the new generations of Goenkas: Chander’s equally talented and tech-savvy sons: Amit and Punit who are now leading different verticals.
According to PunitGoenka, ‘Even today, ZEE carries the brand of the individual- Dr. Chandra. The vision of his; my team and I are just implementers of his vision and that’s where we complement each other.’
The group has diversified into many other sectors of the economy apart from creating a media empire: technology, education, infrastructure, financial services and many more with footprints spread across the globe: South East Asia, Middle East, Africa and Europe.
In November 2019, Chandra stepped down as full time to become chairman emeritus. He has also been nominated to Rajya Sabha. He is also engaged in various social causes and promoting mediation through Vipasana.
Modest to the core, Chandra credits the viewers for the success achieved: “today the channel is a household name as “viewers have made this private channel a public movement with their love and support.”
Going forward, it is hoped the brand ZEE will continue strengthening the existing product fare so as to negotiate the new challenges posed by OTT platforms.
Amit Goenka is alert to the changing scene: “At present, television and free content dominate viewership on OTT platforms and on ZEE5 as well, catch-up TV attracts a large proportion of eyeballs.”
Meanwhile, sensing the need to strengthen and professionalize the top management, Zee has roped in some of the finest industry experts:
PunitMisra has been made President of Content & International Markets, Anurag Bedi is spreading ZEE music; another industry veteran Rahul Johri is responsible for driving synergized monetization team and Shariq Patel has been made head of movie business.
Lately, the network and its many subsidiaries have also gone through a rough phase. The collapse of ILFS dealt a severe blow to the Essel group- ‘diminishing the Group’s ability to service its borrowings,’ cautions Surabhi.
What the future holds for ZEE is difficult to say? How will it manage the growing clout of marketing department versus the editorial? Importantly, how will it respond to the viewer emerging as the new Emperor – with Content continuing to be the King.
The popularity that Antakshari (one writer calls it national indoor sport) enjoyed in the 1990s is not a guarantee for future success. The audience tastes, viewing behavior and the way media is consumed is changing.
Content today is cultural zeitgeist that unfolds in real-time, people want to watch shows as they happen so they can participate in conversations. In fact, today audience is the broadcaster.
Published by Rupa, this exemplary book THE HOUSE THAT ZEE BUILT is essential reading for those working in media and entertainment business, and those engaged in media and management education. The book is about the triumph of iconic ZEE as a great business saga of our time; it is also about the man, Subash Chandra, who was far ahead of his times.
(The book was published much before Sony Pictures Network and ZEE Entertainment Enterprises Limited (ZEEL) decided to merge)
(The author is a reputed management & media professional/ educator)
Follow our WhatsApp channel
