Chennai, india – Vikatan, a prominent media house, is strategically pivoting towards audio content and digital transformation to secure its future in a rapidly evolving media landscape. The company has seen significant engagement with its audio offerings, with users consuming over a million minutes of audio content, signaling a strong demand for spoken word formats.
the company is now exploring various monetization strategies for its audio platform, including subscription models, pay-per-listen options, and ad-supported tiers. This move is driven by the observation that audiences are more inclined to listen to content than to read it, opening up new avenues for audience engagement and revenue generation.
Furthermore, Vikatan’s audio platform serves as a crucial tool for reconnecting with Tamil-speaking audiences who may no longer be fluent readers of the Tamil script but retain their ability to speak and understand the language. By providing spoken content, Vikatan aims to broaden its reach and tap into this significant demographic.
Digital and AI Preparedness: An Ongoing journey
in 2011, Vikatan engaged an international consultancy to guide its digital transformation. The process, which took approximately four years, emphasized the critical need for active collaboration across the organization. Srinivasan, a key figure in the company’s transformation, underscored the urgency of embracing digital, stating, “If you don’t embrace digital, you will become unemployable.”
Currently, Vikatan estimates itself to be “about 80 percent future ready” in terms of digital and AI capabilities. However, the company acknowledges that technological advancements are continuous, requiring ongoing adaptation and learning. Despite these challenges, Vikatan has fostered a more cohesive and resilient organizational culture.
Reader Revenue Remains a Cornerstone
Despite the growing emphasis on digital initiatives, print media continues to be a significant focus for Vikatan, with Srinivasan dedicating considerable time to this sector, even though it is not a growth area. The company’s revenue streams are notably reader-centric, with approximately 55 percent of its income derived directly from readers. Advertising contributes between 35-40 percent, while syndication and other sources account for the remaining 5 percent.
Though, Vikatan’s events business is identified as its most substantial revenue driver, described as “bread, butter, jam, and more,” and playing a vital role in supporting the print operations. The success of these events is intrinsically linked to the strength of the Vikatan brand, creating a symbiotic relationship where events bolster the brand, and the brand’s equity enables prosperous events.