THE HINDU BUSINESS LINE
Financial Daily from THE HINDU group of publications Monday, October 06, 1997
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`Time for print medium to reinvent itself'

Date: 06-10-1997 :: Pg: 03 :: Col: f

Our Staff Correspondent

CHENNAI, Oct. 5

THE traditional print medium will have to reinvent itself if it has to survive the revolution in information technology, according to Mr. Pradeep Guha, Executive Director, The Times of India Group.

Addressing a meeting organised by the Advertising Club Madras, he said that the dynamics of the relationship between the major players in the media, namely, the media, audience and advertisers, has been constantly changing.

Before the 1930s, the balance of power was in favour of the media owner, which led to a monopoly on information.

With the advent of radio and television, this monopoly led to competition, whereby advertisers had an abundance of choice for the first time.

With the onset of an era of multiple options, the bargaining power transferred to the reader and the advertiser, resulting in a visible power shift.

He said that in recent times with tremendous advancements in information technology, a paradigm shift is taking place in which players in the fields of information (the press) and entertainment (the TV, for instance) are striking strategic alliances.

Mr. Guha termed this as a shift from `competition to coopetition', and said that cooperation no longer was an option but a necessity.

He gave instances of firms representing the traditional press, television houses and information technology giants cooperating to bring a new breed of `infotainment'.


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