Real reviews biz plan, downsizes ops
MUMBAI: Another Hindi general entertainment channel (GEC) is tumbling down. In this high-cost, fiercely competitive space, there is very little space for error.
And if you are at the bottom of the heap, struggling with ratings, there is very little respite.
Real Global Broadcasting (RGBPL), the 50:50 joint venture between Turner International and Alva Brothers Entertainment that runs the Hindi GEC Real, said Monday it is downsizing its operations in India. That would mean layoffs, running on show repeats, and cost-cuttings.
Real is taking corrective action as it rethinks its business plan. Admits Turner International India MD Anshuman Misra, "For sure we did not get off to the start we aimed for. Some elements worked better than others. The joint venture partners are reassessing the business plans for their JV company. These plans will be announced as soon as they are confirmed. Until we fully assess the long term plans for Real, we have to streamline operations."
While the cut down operation will witness the egress of a sizeable number of employees, the top management will not see much change as of now.
Says Misra, "The downsizing will happen in a phased manner and will not affect all employees immediately. We will keep a certain number of people on board for the channel’s operation."
Real was launched in March this year with three hours of original programming along with a mix of movies, music and kids content.
Zee Entertainment Enterprises Ltd shut down its second Hindi GEC Zee Next earlier this year while 9X is struggling to stay afloat.