))
EP 024 - The Evolution of Media in India with Sanjay Jain, ex-CFO at Viacom18 JV and TV Today Network
Manage episode 415104652 series 3546195
Content provided by Strategy of Finance and Rohit Agarwal. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Strategy of Finance and Rohit Agarwal or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
Sanjay Jain, a CFO with over 20 years of experience in the media industry, shares his career journey and insights. Starting in finance after completing his CA, Sanjay worked across various sectors before focusing on media. Sanjay discusses the evolution of the media industry, from traditional cable and satellite TV to the rise of OTT platforms. He also talks about the challenges and opportunities in the industry, including the need for content discovery and the impact of regulations. Sanjay emphasizes the importance of leadership, continuous learning, and adding value in the finance function. He reflects on his roles at NDTV Imagine and Aaj Tak, including experiences with their IPOs and the specific challenges news channels face. He discusses the importance of having a good track record and a credible plan before going public. Jain also talks about the NDTV Imagine saga and the lessons learned from it. He emphasizes the significance of strategy in business and the unpredictable nature of content success. In retirement, Jain pursues passions like stock market investing and angel investments, measuring success by happiness and peace.
---
Takeaways
- The media industry has undergone significant changes, from traditional cable and satellite TV to the rise of OTT platforms.
- Leadership in the finance function involves backing your team, having a vision, and collaborating with other functions.
- The role of a CFO has evolved from being a controller and accountant to a strategic advisor who adds value across functions.
- Moving between industries is possible at a mid-level, but at senior positions, industry knowledge becomes more important.
- The CFO role allows for interaction with peers, insight into the company's growth, and the ability to influence decisions.
- Successful CFOs should be team players, have a desire to learn the business, and listen more than they speak.
- The IPO of Aaj Tak was a significant event in Sanjay's career, and he played a role in the company's growth and success. Having a good track record and a credible plan is essential before going public.
- The media industry is unpredictable, and success in content creation is often a matter of gut feeling.
- Retirement should be a time to focus on passions and find happiness and peace.
- Investing in the stock market requires careful observation and patience.
- Angel investments should be made with money that can be written off and should consider the founders' passion and knowledge.
- Success should be defined by happiness and peace, rather than just wealth.
---
Quotes
"The media industry had been bleeding for quite long. Only 5% of the channels used to make money."
"Leadership is all about backing your team, believing in your team, getting the right guys to do the right stuff, standing by them."
"Aaj Tak is such a big brand that when you think about news, only thing which comes to mind is Aaj Tak."
"A good plan is essential for value creation in an IPO."
"Negotiating requires having a poker face and understanding the other person's needs."
“[In media], you never know what is going to become a hit.”
“Good content will find its way sooner or later. But again, making good content is not easy.”
“[In media], you need very, very deep pocket. It has become a big boy's game.”
“You will end up spending 5x, 10x of your content cost only in marketing. So if you put that kind of money to get eyeballs, how will you make money?”
“Connected TV is another market which is going to grow.”
“There could be a good play along with connected television, e-commerce, video commerce or social commerce.”
“All news channels are for commercial purpose. They are there to make money.”
“CFO today is a funnel of an organization.”
“CFOs today are the best sounding board for any leadership.”
“I mean, business generally is common sense. It is not rocket science.”
“The basic function of finance and controllership and tax and funding that is pretty much common across all industries.”
“You can influence all decisions at all levels, right from the board to the CEO to a functional head. CFO drives that kind of power.”
“You have to be tough when you are negotiating. You need to understand the need of a buyer who is sitting on the table, how desperate he is, what all his other options are and once you have a little insight you can command your flush account.”
“On the content side, you never know what's going to work. It is my gut against your gut.”
“Everyone wants their every show to be successful. That never happens.”
“No matter how progressive the channel is, you will find some mythological shows there.”
“To me success means happiness, to me success means peace, to me success means living a good life.”
---
Where to find Sanjay Jain:
LinkedIn: https://www.linkedin.com/in/sanjay-jain-928137/
---
Where to find Rohit:
Twitter: https://twitter.com/podcast_SoF
Email: rohit@strategyoffinance.com
---
Sponsor:
Sponsor:
This show is brought to you by Krayo - the Unified Operating System for Corporate Spend. Krayo is bringing together the whole journey of Corp Spend - Buy > Pay > Manage - into one single platform in an intelligence-first and automated design. We promise to make you more profitable. Visit at https://www.krayo.io/
42 episoade
Distribuie
