Collaboration Or Collaborative Functioning To Be A Critical Theme In Future: Nitin Mittal, ZEE

In its endeavour to strengthen its technology, innovation and data capabilities, ZEE launched the Technology and Innovation Centre in Bengaluru a month ago. This centre is the Company’s epicentre to build a strong cohort of tech, data and talent, along with lending a hand in the state's employment opportunities for young talent. 

Nitin Mittal, President – Data and Technology, ZEE Entertainment explains how through these capabilities, ZEE intends to leverage behavioural and derived data to personalise content and delivery, thereby increasing its reach across platforms. The centre has also built the metaverse network for the Company with the help of AR, VR and NFT-led delivery models and will focus on a futuristic tech stack which will enable omnipresent delivery of entertainment across platforms.

Excerpts:

Q. Technology has become the epicentre of most businesses. How are digital technologies improving brands' reach and engagement with customers?

Digital transformation has had an impact on almost every industry as well as all walks of life and the entertainment industry is no exception. We have seen a 180-degree shift from how traditional physical businesses were designed and how business was done. Rapid digitisation has brought changes in business models and consumer expectations. Consumers have steadily realised the value of time, opting for much faster and more convenient ways of consuming a service. There has been a widespread realisation among consumers about the value they bring to each brand, and each media channel, and they are exercising this in a more judicious manner.

Q. How will it further strengthen the company’s technology, innovation & data capabilities and supplement the next phase of the company's growth momentum?

In the entertainment industry, whether it’s a business leader, a content creator, or an increasingly involved consumer, they are all becoming aware of how the future will affect them. Those who understand how these shifts could reshape the industry and open new opportunities will gain a competitive edge.

At ZEE, we are bringing in this change by keeping in mind three key aspects namely –

o Creating an immersive entertainment experience by leveraging behavioural & derived data to personalise and customise consumer content and delivery

o As part of the omnipresent content delivery, we have started to create cohesion across platforms and started to blend content into other sectors, such as retail for live commerce

o The idea of living in a metaverse has only increased as commerce, culture and multiplayer role-playing games have converged in virtual worlds. As virtual worlds are developing, they are including concerts, shopping and other experiences that were once thought of only in a physical environment. These worlds will create alternate lives for their users, and the idea of alternate virtual environments will slowly infuse daily life.

Q. How would it be building the Metaverse network with the help of AR, VR and NFT-led delivery models?

We foresee existing platforms scaling up the business further, however, only the platforms which are successful in adopting as well as offering AR/VR capabilities in a quick-paced manner will outperform their competitors. Metaverse of ZEE will bring a combination of the physical and virtual ecosystems in a new universe. We are creating metaverse as a platform to bring new-age creators. We are a content company so NFTs will emerge from movies, music, TV shows, and digital original web series. We are in the process of piloting each type with a small cohort and this will expand in the coming quarter.

Q. How is it to create employment opportunities as well as nurture young talent?

India offers a very large talent pool, with respect to the technology sector. The pace of growth and evolution that has been witnessed on the technology front across industries in India cannot be compared to any other country in the world. We have seen digital transformation across sectors that were expected to happen in the next 5-10 years, within a span of 2 years. Such adaptation of technology in India across sectors was only possible due to this pre-existing talent pool in the country. We are providing opportunities to 700+ tech experts at the recently launched Centre, aiming to build cutting-edge, world-class products. We have hired over 500 experts and are in the process of hiring a similar number this year to add capabilities for gaming, augmented reality, virtual reality and metaverse. Our metaverse platform will provide earning opportunities to million + creators, game developers and associated talent.

Q. What are some of the top trends that will float in the tech sector in the next 2 years?

Going forward, collaboration or collaborative functioning is going to be a critical theme, be it with startups, technology companies or content creators in the M&E space. Among the players, whoever does this better – the more flexible it will be for them to offer an extensive viewing experience and gain greater market share in India. Another key area that will undergo rapid evolution in the digital advertising ecosystem. Companies will have to revisit their strategies and adapt to the data privacy laws. These laws are expected to have an impact on every part of the ecosystem. According to me, the future lies in blockchain-based platforms that facilitate the pooling of audiences and create trust amongst independent publishers and advertisers, while being privacy compliant. It will be important for companies to be ready for such a privacy-first architecture.

Q. How do you see the present-day contours of the world of technology, especially in the Indian landscape?

India is one of the fastest-growing media industries globally, with rapid change being witnessed in the content and media consumption landscape. Over the past two years, the pandemic has catalysed digitalisation across industries, but few have seen the kind of accelerated change the media & technology industries have. From how content is being created and how it is marketed, to how it is consumed and how it is paid for, there is a wave of change in the consumer mindset, business structure as well as a digital ecosystem.