Walt Disney has grown its business over the past nine years, both organically and through the acquisition of UTV last year, according to Andy Bird, Chairman of Walt Disney International.
“Our strategy for each region reflects local market realities and opportunities. Our approach in India is focused on media and entertainment because that’s where we see the greatest potential for Disney, not only because the industry here is poised for a huge leap forward, but because of the rapidly rising middle class of consumers and their traditional focus on the family,” Bird said at the inaugural session of the of the 14th edition of FICCI Frames 2013, the annual convention of the media and entertainment industry.
Last year, Disney had acquired Ronnie Screwvala-led UTV Software Communications Ltd, one of India’s leading media and entertainment companies, for Rs 2,000 crore.
As part of its strategy in India, Disney is looking to provide content relevant to local consumers. “It is no longer ‘domestic’ versus ‘international’ for us. We recognise that each market we enter essentially needs its own ‘Disney’ company,” Bird added.
The company is focusing on rapidly emerging markets such as China, Russia, Latin America, South Korea and India. “The managers of our business in each region are creating strategies that reflect the local markets. For that reason, India’s Disney will look different from any other version,” Bird said.
With the acquisition of UTV and the creation of the new Walt Disney Company India, Disney added six entertainment and film channels to its portfolio. “This has helped us reach more than 100 million viewers every week across the country. The deal also positioned us as a significant player in the digital media space, thanks to Indiagames, a mobile gaming company,” he added.
The company is also working closely with its Japan team to create innovation in interactive and mobile segment to take the space in India to the next level and be ready for the broadband wave in India, Bird added.