Exchange4media.com: This is an interesting media deal and an inevitable thing in the era of digitisation. India’s leading TV network NDTV and BPO firm Genpact have formed a joint venture to offer media outsourcing services to enterprises worldwide. The joint venture will focus on providing cost-effective, high quality media services to global and regional media and entertainment companies in areas like editing, digitization and closed captioning.
This deal is first of its kind, especially in the area of visual media. Currently, 70 per cent of all media work is digital and virtually 70 per cent of this can be outsourced. In some ways, the media world is currently at an inflection point similar to the Y2K phenomenon, as decades of analog are being converted to digital from major process-based operations to high-end functionality. Genpact and NDTV plan to capitalize this untapped market, says the report.
The JV will use NDTV’s domain expertise combined with Genpact’s offshore experience, global delivery capabilities, sales and marketing infrastructure, and operational capabilities. Pramod Bhasin, President and CEO of Genpact, said, -€œThis is a landmark deal, the first of its kind to offer outsourcing solutions for the media industry.”