Future Group promoter Kishore Biyani, who dabbled in film production a few years ago without tasting much success, has drawn up the blueprint of a full-fledged entry into the media and entertainment business.
The plan covers the works: a home shopping channel, production of television programmes, FM radio stations and a bunch of specialised magazines.
"We will launch media properties in the ambience of consumption. We monitor footfalls in retail stores and know what a shopper wants and how much he is willing to pay. So why not leverage and monetise that expertise?" said Partho Dasgupta, the chief executive of Future Media, the company spearheading the media march.
As a sign of things to come, Future Media, the media arm of the group, recently launched a women's magazine, My World, priced at Rs 25, given away as gratis to shoppers at Future Group stores (Pantaloon, Big Bazaar, etc) spending over Rs 1,500. The company plans to launch a magazine each quarter.
Future Media also plans to enter the television medium with the launch of a home shopping channel.
FM radio is on the cards as well and the group will either look at acquiring existing stations or bid for licences in the next round of bidding for radio.
"Radio plays a big role in setting the ambience in stores, enhancing the purchasing experience. Hence, we have Red FM playing in Pantaloon and Big FM in Big Bazaar," said Dasgupta.
Future Media is already present in the business of visual spaces, which include advertising in facades, staircases, elevators, pillars and trial rooms.
In October, the company bought the rights for mall space in Pune and Kolkata. In the coming months, the company intends to acquire rights across Mumbai, New Delhi, Bangalore and Kolkata. "We are looking at acquiring any space of consumption, be it a mall, multiplex, cafe or airport."
The company is making full use of its 300-plus format stores and about 1,000 television screens which display Future Media content.
"These are revenue earners for us. While other channels telecast commercials that create a brand image or brand recall, the advertisements on our television sets actually drive sales because they appear just at the point of purchase," said Dasgupta.
Future Media also holds rights for theatre chain Inox Leisure's on-screen advertisement space. The company is said to be in talks with other multiplex owners as well for similar deals.
