Even as Subhash Chandra puts out fires created by mutinous creditors wanting repayment of thousands of crores of debt, he is already thinking of his next empire. India’s first media baron may be set to lose control over Zee Entertainment Enterprises, after helming it for 30 years, yet he is not sad. “I made a mistake, I have to accept it, and if I have some mettle in me, I will be able to do it again. There is no dearth of opportunities in this country and at this stage of my life, I am not in it for the money. My motivation is to create something new,” says Chandra.
Industry watchers agree that Chandra is on the right track as he jumps onto the future technology train, however, being the first mover will not be enough to pave the path to success. “You live in a time where funding is more accessible and established entrepreneurs cannot even predict where the next innovation comes from. Now revolutions in the product come from the most unobtrusive and unassuming players. Chandra will have to change his thought process entirely,” says Sanchit Vir Gogia, Chief Analyst and Founder of Greyhound Research.
“Moreover Essel must be ready for investment cycles that are decades-long and change their thought process around how quick these innovation cycles need to be. It is important to recruit people that have a substantial understanding of technology,” said Gogia.
“Chandra has had a long-standing relationship with VCs such as Blackstone which bolsters his fundraising potential. Chandra understands regional content, he understands distribution. With all of this, he certainly has the potential to remake himself successfully, it all boils down to how he executes it,” Gogia concludes.Hindu Business Line
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