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This is an archive article published on March 28, 2014

Creative philosophy

Venkatesh Roddam, CEO of Reliance MediaWorks, talks of balancing creativity with economics

Venkatesh Roddam, CEO of Reliance Media Works Venkatesh Roddam, CEO of Reliance Media Works

What are the changes that you have brought about in Reliance MediaWorks since the time that you joined?

One of the key changes that we have implemented is a sense of agility in the entire operational process, across businesses. We have rationalised in certain cases and have started looking at our business services from a multi-purpose generation perspective. For instance, riding on the retail wave is the next big thing for us at BIG Cinemas. We are offering various avenues of advertising to marketers and are an integral part of every media plan today, especially when it comes to engagement driven activation. Our revenues have jumped over 100 per cent for cinema advertising. We have also opened up a few screens recently and are looking at adding around 100 odd screens for BIG Cinemas, organically and inorganically. Speaking on the content front, we have recently bagged large Hollywood projects, for TV and films. Our soundstages business continues to operate at a 90 percent occupancy level for our Hollywood benchmarked services. So, there is a lot of action happening.

How does your background in investment and banking help when dealing with the movies business?

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For years, creativity has been the only yardstick, with a myth that it cannot be measured on a tangible scale. Balancing this fine line of cost and quality, rather than cost v/s quality thereby becomes my core focus. My philosophy is simple, drive creativity and economics simultaneously. I am keen on leading and building a corporate framework around this business.

What is the biggest challenge that you faced in the turnaround of Reliance MediaWorks?

My philosophy is driven by a famous quote of St France Assisi, “Start doing the possible and suddenly you will find yourself doing the impossible.” Business is about facing daily challenges and delivering value. So each day, different story, but the outcome has to be the same.

What can Indian film companies such as yours do to keep up with the companies around the world that are offering similar services to varied film-making industries?

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In an era of globalisation, I believe geography is incidental in business. Having said that, what we learn from global leaders is planning and organisation. Today, we at RMW don’t segregate businesses, geography wise. Our focus on quality is as much for the US projects as it is for the Indian ones. Not maintaining that difference there is the key. The other important process we follow is adherence to the best operating processes and practises. We strive for a six sigma delivery approach across our businesses. These yardsticks have helped the IT business evolve, and it will do so even for the entertainment industry.

At this point, what would you say is the USP of Reliance MediaWorks?

Reliance MediaWorks adds technology driven value, across all aspects of the value chain of the content creation industry. To give you an example, we have a unique blend of best in class restoration tools and proprietary technologies, coupled with organically created talent pool that enables us to offer the optimum combination of scale, skills and solutions for all restoration needs. The validation of this was, being honoured with the Oscar at the Academy of Motion Picture Arts and Sciences’ Scientific and Technical Awards in 2012.

Does the acquisition of stakes in Steven Spielberg’s DreamWorks help the Indian business in any way?

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The tie—ups are helping us build upon our competitive strengths and create a market entry positioning and distinctive brand for ourselves in the market place.

Why the move by promoters to buy back shares to delist the company?

No comments at the moment.

What sort of content can we expect on the television front?

Through BIG Synergy and our broadcast post business, we are constantly pushing newer boundaries, with varied formats across Hindi, regional and international content.

 

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