This year’s edition of Communiqué – XIMB (The Annual Media and PR conclave of XIMB) was centered around the following theme- “Changing Paradigms of Media Landscape in Digital Age”
Starting off an article with a witty analogy is half the battle won (or half the article written?). And it helps when the dais of the event you are covering comes up with one. XIMB’s brilliant professor of Marketing and esteemed moderator for the day - Dr. Subhasis Ray, quipped and I quote “Today’s panel are veritable who’s who of test cricket stalwarts and T20 format trailblazers”. What a way to put it! And he’s right, of course. We were graced by the vastly experienced figures of Mr. Ravi Srinivasan, (Editor, The Hindu Business Line) and Mr. Rahul Shrivastava (National Affairs Editor, India Today TV). On the other end of the spectrum were Ms. Tanvi Bhatt (Founder & CEO, Tanvi Bhatt International), Mr. Ankit Doshi (Founder & CEO, InsideIIM.com) and Ms. Chetna Vasishth (Founder, Chet Chat).
The stage was set for a session of indulgent star-gazing, as we stood on the shoulders of a perfect mix of people to peer far into the future of Media as an industry, and as the fourth pillar of a democratic society. Prof. Subhasis Ray set the tone for the afternoon as he talked about the concept of democratization of content, and how new players were leveraging information asymmetry to provide deeply customized content. With access and cost not being a problem anymore, niche content creators can find niche content consumers to set up a vibrant ecosystem. The first speaker for the afternoon, Ms. Chetna concurred on this point. According to her, this was the golden age of content creation where technology, data, and democratization were giving rise to unique possibilities. Her point of small content creators collaborating to service the consumers was obviously true. We have all witnessed the famous pages of ‘Nas Daily’ and ‘Dear Alyne’ team up on Facebook to provide us wonderful content to indulge in.
Mr. R Srinivasan praised the new direction the media was taking as well. But he also voiced caution and concern regarding the pitfalls of unrestrained momentum. Citizen journalism, while liberating, also leaves us open to the risk of panic and chaos due to the unverified news. Traditional media has a robust, time-tested framework for validating news, which new forms of media platforms do not always necessarily adhere to. He introduced the concept of “ombudsman” – a person charged with the responsibility of representing the interests of the public in the media organizations, directly answerable only to the board of directors. A somber reminder of the lack of accountability in the new age lies in the fact that only 28 media organizations participated in the international ombudsman conference, of which Mr. Srinivasan’s Hindu was an obvious participant.
Mr. Ankit Doshi took us forward by pointing out how the “appointment viewing” of media was fading away. Long gone are the days when the schedule of the entire family revolved around the telecast of “Kyunki Saas bhi Kabhi Bahu Thi” or the evening news bulletin. We can now consume our content anywhere and anytime, thanks to 4G (about to be 5G) and smart-phones. He too celebrated the democratization of the system, pointing out how, in the old days, traditional media houses were the gatekeepers and arbiters of all that was possible. But now, anybody with a compelling idea can find his/her ideal customer, with negligible publishing costs. The examples of the Dollar Shave Club and The Stauffer Family ably demonstrated what he was talking about. I could not help but feel good about such an era. Meritocracy for the win!
Ms. Tanvi Bhatt introduced us to the dizzying new concept of “Personal Branding”. It struck a chord because, yes indeed, we are all mini corporations in disguise. Our personalities, our values, our talents form our “promises of value” to the society. In this age of near-total visibility, how do we want to go forward with this new realization? How do we write the story of our lives?
We were treated to the comforts of the paradigm shifts in media when our final speaker of the day, Mr. Rahul Srivastava, sent in his talk via video! His overview of the entire industry was compelling and wrapped a nice little bow on the learnings of the day. His point about how the traditional media was all about honesty, but how the new media inculcates the concept of “transparent” honesty – gave me food for thought. It’s certainly true that the modern consumer of media is well-informed, and has numerous means to conduct a quality check of the information he is consuming. He graciously admitted that traditional media houses were playing catch-up in market share, what with the onslaught of new paradigms. However, he signed off with an optimistic note, stressing on how both the ends of the aisle can learn from each other.
Suffice to say, I came away with a deep appreciation for the times I exist in. The panel discussion also eased some of my fears as the general conclusion was that the outrage against the fake news epidemic was actually a good sign of a vigilant society and that it will drive the solutions that we must come up with to tackle the pitfalls of new media. It’s the little changes in perspective that can reveal a new way of thinking, and help us cut through the noise. Standing on the shoulders of classic guardians and new age pioneers, the future looks challenging but promising.