MAM

Indian M&E sector increasingly victimised: Ernst & Young

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/mam-images/2014/08/16/aa.jpg?itok=_o567s3M

MUMBAI: In the last two years, the Indian Media and Entertainment industry has seen a stark increase in fraud related cases that have contributed to a major loss in profits as well as increased costs according to EY's Media and Entertainment (M&E) Fraud Survey 2014.

Commenting that the Indian M&E sector has been increasingly victimised, EY partner, fraud investigation and dispute services Mukul Shrivastava said, "Being on an upward trajectory, the Indian M&E sector is increasingly victimised by the growing challenges around governance breakdowns and unethical practices. This has led to extensive losses (monetary and reputational), sub-par performance and arrested development."

Of the total respondents, approximately 98 per cent said that unethical practices had led to a major loss in profits and at the same time had increased costs. One out of six respondents also said that they had seen an increase in fraud within their organisations.

Another serious issue that the survey reported was false invoicing and overbilling. Shrivastava went on to add that “In light of the changing industry dynamics, organisations will have to improve vigilance, boost internal controls and raise compliance benchmarks for sustainable growth.”

An astonishing 57 per cent of the respondents are yet to set up a whistle blowing mechanism within their organisations and 41 per cent do not have much knowledge about anti corruption laws and regulation laws.

EY India M&E sector leader Farokh Balsara said, "As companies in the M&E sector increase in size and move from unorganised to organised operations, the need for proactive fraud prevention has increased. The adoption of an ethical business conduct and sound governance policies will play a crucial role in determining its true success.”

The report also outlined ways for organizations in preparing a strong fraud management programme through regular training, awareness programmes, interactive sessions with case studies and scenarios.

The survey features insights of companies with domestic operations as well as multinational corporations. It also reveals content distribution and TV/film content production, finance and advertisement sales functions as particularly vulnerable areas.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/19/amit_gujral.jpg?itok=sBmbhKyq
LG to patriots: #KarSalaam

MUMBAI: LG has launched the #KarSalaam initiative which aims to salute the spirit and sacrifices of the Indian soldiers to celebrate India’s upcoming Republic Day.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/19/AMIT%20WADHWA-RAJAN-800x800.jpg?itok=oIBJn_eJ
HT Media hires Dentsu Impact

MUMBAI: Dentsu Impact has won the creative duties for all brands from HT Media - including Hindustan Times, Hindustan (Hindi), Mint, Shine.com, HT Campus, Career Plus, Study Mate, English Mate and Bridge School of Management. With this move, Dentsu Impact becomes the prime strategic and...

MAM Media and Advertising AD Agencies
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/19/Ayyappan-Raj-800x800.jpg?itok=Tih3d0WE
Nomarks for guessing who's self-reliant

MUMBAI: Bajaj Nomarks has come out with its latest brand campaign that highlights the advantages of the skincare cream. The campaign, led primarily by a video film, touches upon the core point of the cream being a companion to women who often face multiple skin complaints, especially on the face....

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/18/sabia.jpg?itok=UPFNUZeB
Madame Tussauds in India; WATConsult wins media mandate

WATConsult, one of India’s leading media agency, which is now a part of the Dentsu Aegis Network, has won the digital and social media mandate of the world-renowned wax museum, Madame Tussauds, which is soon to be launched in the capital city of India.

MAM Media and Advertising AD Agencies
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/18/PC-advrt.jpg?itok=Q6eLTowD
Priyanka in new Pantene ad

Pantene, one of India’s leading hair care brands along with new brand ambassador Priyanka Chopra, launches a new and improved formula. The brand launches its biggest breakthrough in 30 years: Pantene’s new formula with PRO-V and goodness of oils making hair thicker, stronger in just 14 days.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/17/shanu-singh.jpg?itok=M5jb_3ds
E-com: Godrej Interio, IBM tie up

IBM has announced that Godrej Interio, the furniture division of Godrej & Boyce Mfg. Co. Ltd., is collaborating with IBM to capture the attention of the growing number of home furniture and accessories consumers.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/17/Unpack-Your-Dreams.jpg?itok=YDAX1_lp
'Unpack Your Dreams', advise cricketers

Aristocrat has appointed Indian cricket champions Rohit Sharma and R. Ashwin as its ambassadors to endorse the brand’s new identity and stylish product line.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/17/dish-tv.jpg?itok=cnk3-jZ2
Jahan Desh ke Rakshak wahan tak DishTV; special offer launched

There is no greater love, than the love for one’s country. As India celebrated the 69th Army Day on 15 January, DishTV paid tribute to the valour, indomitable spirit and determination of the brave soldiers of the Indian Armed Forces.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/16/raj-nayak-and-asish-bashin.jpg?itok=kl9F_1OQ
Ad Club, AAAI to fight violence against women together

The Advertising Club (TAC) and the Advertising Agencies Association of India (AAAI) have combined forces to launch a campaign to pitch communication as a force for good and battle the scourge of violence against women.

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories