Storyboard18 presents FAST FIVE ⬇
We bring you top five news updates from the world of advertising, marketing and business of brands.
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EXCLUSIVE: MIB to form core committee to address issues with ‘self-declaration certificate’ mechanism
In a three-hour long meeting on June 25th, the Ministry of Information and Broadcasting addressed key concerns raised by the advertising and media industry about ‘self-declaration certificate’ (SDC) mechanism, and acknowledged challenges faced by the advertisers. The Ministry is considering simplifying the SDC mechanism, would look into revising the directive, and restricting the regulation to the health and food sector.
Also, as a resolution, the Ministry has decided to form a ‘core committee’ with key stakeholders including advertisers, before it goes to the top court on July 9th for a fair representation.
It was told to Storyboard18 that in between the meeting, a proposal was made to form a small committee that should work with the Joint Secretary, to take into cognisance all the concerns and the challenges that the industry is facing, otherwise, it will be a standalone representation.
Over 70,000 employees in M&E companies looking for jobs; openings only 4,000
The job market for working professionals in the Media & Entertainment (M&E) industry has turned gloomy due to a slide in readership, the collapse of the Zee-Sony merger plan, and OTTs’ impact on top bellwethers such as PVR, DishTV, and Tata Sky.
According to the specialist staffing firm Xpheno, the total current active white-collar openings in the M&E sector are a little over 4,000. However, there are over 70,000 employed professionals from the industry who are currently looking for jobs.
We don’t go crazy with the idea of buying highly-expensive World Cup inventory: WakefitCo’s co-founder
In a freewheeling conversation, Chaitanya Ramalingegowda, co-founder, WakefitCo, talks about the company’s increasing marketing spends, offline expansion, and how it remains on the lookout for acquiring companies that either are a well-loved brand or have good distribution or manufacturing capabilities.
Top 5 most valuable brands in India – Tata Group, Infosys, HDFC, LIC and Reliance: Brand Finance Report
According to the brand valuation consultancy, Brand Finance, Tata Group has been named India’s most-valuable brand 15 years in a row.
Tata Group, with a brand value of USD28.6 billion highlights the first time an Indian brand is close to the USD30 billion brand value mark, reflecting the prevailing optimism in the Indian economy, the report said.
The top five most valuable brands in India include Tata Group, Infosys, HDFC, LIC and Reliance.
Bombay HC orders Subhash Chandra to respond to SEBI summons
On June 26, The Bombay High Court disposed of a writ petition filed by Essel Group chairman and chairman emeritus of Zee Entertainment, Subhash Chandra. Chandra’s writ petition challenged the Securities and Exchange Board of India (Sebi) summons to appear before the regulator.
However, the court ordered Chandra to respond to SEBI’s summons issued on March 27 in a funds diversion case, giving him four weeks to respond. The Essel group chairman will have to furnish the documents sought by SEBI.
SEBI had alleged that Chandra was trying to stop the probe by not responding to its January 12 summons.
Stay tuned to Storyboard18’s FAST FIVE from the world of advertising, marketing and business of brands.