The value that news brings is undeniable: Ashish Bhasin

In these times of crisis and lockdown, it’s news which has been our eyes, ears and hope. And when we talk of news it’s not what we get through forwards or posts but authentic and factual news that comes to us through reliable sources, news that has been put together by journalists and editors, sometimes even putting their lives at risk. So the question is - Do we value news enough?

As part of the latest ABP News Network and e4m webinar series – News is Undervalued – was Ashish Bhasin, CEO APAC, DAN and Chairman DAN India who shared his valuable insights on the same with Naziya Alvi Rahman, Editor, exchange4media.  

On the session, Bhasin delved deep into topics like how news continues to be undervalued, the fragmentation of news channels and the need for greater credibility.

Asked if news was getting the value and price it deserved with the rise in viewership, Bhasin said: “The times that we are currently going through are very strange. Of course, news brings in value especially in unprecedented times like these when there is a high level of anxiety. The value that news brings is undeniable. Price is something that is entirely different. Price is a function of market forces, supply, and demand. We are in a scenario when viewerships are significantly going up for news channels. But there isn’t enough advertising to cover it because the markets are closed, other than the few brands that are active. The universe of advertising has significantly shrunk, therefore, there isn’t that much of advertising. So, I’m not sure if it will directly result immediately in price. In the long run, I agree that it is a medium and a genre that brings in a lot of value, not just on television even in the newspaper and some of the digital websites. Perhaps it is definitely hitting below its potential in my view.”

On the point of news genre still doing far better than others and a major chunk of inventory from advertising going into the news, Bhasin said that was expected since the genre was getting viewership. “If I were an advertiser, I would also want to put my brands on news - mainly television news. In case of print, distribution is slowly coming back now. In terms of television news, it is a great time if you have to advertise. Today, it is almost an appointment viewing. You are waiting for the 9’o clock show or 4’o clock press conference. With everybody at home and the anxiety levels so high the level of engagement of news is extremely high. But I wish there were more advertisers who would come on to it,” remarked Bhasin.

Delving deeper on the issue of whether news has been getting its due, even in the pre-Covid days, Bhasin acknowledged that “news deserves more”. Sharing further on this, he said, “In news, the players are a bit too much so it does get a bit fragmented. But apart from that, there is a general perception that news is a more male-viewed genre and some of these are factual and some of these are perceptions. I don’t think the news genre has done a good enough job to market itself. They are too busy competing with each other. Since I am an avid viewer of news channels I can tell you that we have 16 No. 1 news channels in India. The focus has been on the competition. As a genre, I wished that they had taken a slightly different view when that is a genre that gives consumer engagement as no other genre can. It could be the Budget or elections, the level of engagement is high. If that were marketed well enough and substantiated with facts it would get much better than it is. It would do them well if they came together and educated clients, media buyers, and planners as well as the public at large about the importance of news in our lives. That will eventually lead to more eyeballs and advertising.”

Coming to the point of news coming from various mediums and if traditional media houses have gained more importance as reliable sources of news, Bhasin said, “News’ biggest USP is credibility. The major publication houses, TV news centres and even the digital ones should bring in the credibility so that the non-credible news gets filtered out. That’s their biggest strength.”

 Bhasin stressed that news channels need to come together and evolve for the industry. He said there was a need to agree on a common point that is for the betterment of all players.  

Elaborating on the issue of fragmentation in terms of ads within the news medium, Bhasin said that the problem has been different in terms of print and television. In case of a newspaper, there is a need for local editions for local news and also ads. In terms of TV, Bhasin said a consolidation is bound to take place and partly of it will be forced by digital and partly because of the lack of space for so many players, and also many of them have  their business models based on advertising.

He also spoke about newspapers charging the right price and not focus solely on advertising. "You need to have confidence in your product and start charging the right price over a period of time and not rely solely on advertising. The advertising universe there is limited and is not going to grow for a while. If news is done well and you start believing in it, start charging for the consumer who is willing to consume it. But before raising the price more value should be added. The whole ecosystem will have to do it. If one raises the price and the other players don't it is not likely to sustain for long." 

 “In general, news in India has to start valuing itself,” Bhasin said.