Vikatan’s ⁤Digital Conversion: A Journey Towards Future Readiness

Vikatan, a prominent media house, has embarked ⁣on a ‌significant digital transformation journey, aiming⁣ to position ‍itself‌ for the ⁣future ‍in an increasingly digital and AI-driven landscape. this strategic shift, initiated in 2011 with the​ engagement of an international⁢ consultancy, has been a multi-year endeavor marked by‍ a strong emphasis ⁤on collaboration and a​ clear vision for⁣ the company’s evolution.

Embracing the Digital ‍Imperative

The ​path​ to digital readiness was not⁤ without ⁣its challenges. As ⁤Vikatan’s ​leadership, Srinivasan, recounted, the initial guidance from consultants, though comprehensive, highlighted a crucial element: “none of⁢ this works without ‍active collaboration.” This realization underscored the importance of⁤ internal buy-in and collective effort in driving change.

The transformation process spanned approximately four years, ⁤a testament to the deep-rooted ‍nature of organizational change.Srinivasan famously conveyed the urgency ⁣of this shift to his⁢ team, stating at a town hall, “If you don’t ​embrace ​digital, you will become unemployable.”‌ This ⁤bold ultimatum served as ⁢a catalyst,‌ emphasizing ⁢the critical need for adaptation in the face of technological advancements.

Today, Vikatan​ estimates itself​ to be “about 80 percent future ready when it comes⁢ to digital and AI.” While acknowledging‍ that technology continues to evolve at a rapid pace,​ the ‍company has fostered a ⁤more cohesive and adaptable internal culture, better equipped to navigate these ongoing changes.

A Reader-Centric Revenue Model

In​ a media landscape often ⁢dominated ⁢by advertising revenue, Vikatan ‍maintains a distinct reader-centric⁢ approach. Approximately 55 percent of ‌its ⁣revenue is generated directly from its readership, a figure ⁤that highlights the ‍enduring loyalty ​and engagement of its ⁢audience. Advertising ⁤contributes a significant ‍35-40 percent,with syndication and ⁣other sources ⁤making up the remaining 5 percent.

Despite the print business no longer being a growth area, Srinivasan ⁣dedicates a significant​ portion of ⁤his time to its sustenance.”We’re ⁤defending territory at ⁣a ⁢cost that ​doesn’t seem to be worth defending,” he admitted,⁣ acknowledging the resource allocation towards print. Though, this commitment is strategically ​linked to the company’s broader success.

The true⁤ engine of ‌Vikatan’s financial stability, however, lies in its events. Srinivasan‌ describes them as⁤ “our bread, butter, jam, and⁣ more,” emphasizing their ⁢crucial ⁣role in keeping the print business afloat. this symbiotic relationship ‌underscores a key insight: the⁢ success of ⁣Vikatan’s events is intrinsically tied to the strength and recognition of its​ brand. As ⁣Srinivasan aptly puts it, “there’s no second opinion. Our events ⁢are successful only​ as of the brand ⁢they⁤ stand on.But the brand isn’t independently profitable without the events. It’s a yin and⁣ yang – they work together.” ​This interconnectedness highlights a powerful model where brand equity​ fuels revenue-generating activities, which in turn, reinforce the brand’s value.