The country’s Ad and Media fraternity have flocked there – braving the scorching April heat – for the GoaFest, which is finally showing signs of living up to its promise of becoming the Indian Cannes since the 2 reigning ‘Gods’ of Indian Advertising smoked their peace cigars some 2 years ago.
But while the Ad Guys have at least the Creative achievements to celebrate even in a depressing business year, what are the media folks cheering over ?Print being our area of interest – talked to a friend in the industry. According to him, even though ‘bad news’ keeps coming from the western world (especially the US), in India – perhaps - the worst is over. After a year of ‘blood-bath’ one is beginning to see rays of revival.
So, this being also the time of presenting the AOPs (Annual Operating Plans), there is a new cautious optimism in the meeting rooms. This is probably based on 2 premises. The first, of course, is the collapse of newsprint prices. Second – tho’ some may be reluctant to admit it – with the ‘right-sizing’ exercise carried out by many the cost structures seem to be in better shape. And, with all this if the economy does pick-up by coming Diwali as many are predicting – one could well be back on track this year.
“Time to buy newspaper stocks ol’ chap !! ” – he said tapping my shoulder before rushing off to catch his flight to Goa. Then turned round for a bit to add with a smile – “hope the company restores the travel policy and I am allowed to travel Business Class, once again”.But, it left me wondering if the Indian Print-Media industry has indeed cracked the code - which has been eluding the chaps in Obama-land or are we simply lulling ourselves into believing that surgery was the cure and we will be back to good health once the nourishing juices of ad-revenue begin to kick-in again.
The question is if we have missed a lesson or 2 in this crisis. I intend to turn to a few of those thoughts in the coming posts.
