The global economic effects of the pandemic have already started taking shape, as we are witnessing the markets tumble and countries taking emergency actions to respond. COVID19 is assured to have a massive economic impact, and the entrepreneurs are striving to mitigate the risks coming their way. Most of the leaders have welcomed the new normal and adapted to the new global habits. The effects of the pandemic have also been encountered by the media and entertainment industries. There has been a major shortfall in revenue events, lower spending on outdoor events, and a decline in advertising spending. However, Sam Daniel, the Director and CEO, of Rachel & Sam Media & Entertainment Private Limited , has managed to find the silver lining in these times. He noticed that there has been a noticeable growth in online media consumption. The long-term impacts of coronavirus are hard to predict but he contemplates that the extent of disruption will depend mostly on the type of content that media companies produce and distribute.
Sam Daniel reasons the media consumption alterations that will be caused due to the downsides of pandemic and lists a few questions. For instance, the film, TV, and video industries can only maintain output if their physical operations are maintained. Would you still subscribe to Netflix or Zee5 or Hotstar if it couldn’t add new shows to its library? Besides, in the news industry, many companies have used live events as a diversification strategy to offset declines in print revenues with large-scale events on a halt indefinitely, how will that affect our news diets? Lastly, if the sports stadiums are forced to close their doors for the long term, they could lose their allure to the broadcasters. Would these competitions be as good, or as popular, without the live atmosphere that fans create?
In the end, the most important role the media and entertainment industry has to play is to help slow down the spread of the virus and keep people informed and updated to stay safe. “With luck, these disruptions will just be temporary. Beyond this, the industry is in uncharted waters,” concluded Sam Daniel.
Distinctive Roles and Responsibilities
Businesses have been established as the solutions for the existing problems, however, often people fail to focus on building a business around other people’s actual needs. On the other hand, Sam Daniel has reverse thinking and focuses singularly on delivering a simple solution to a specific problem that people have. Sam Daniel has been instrumental in the corporate sector for more than two decades. Being in the industry for more than two decades, he found a keenness to contribute as a leader. Sharing his views on entrepreneurship, he said, “I don’t believe we have the right to call ourselves entrepreneurs, whereas I think of ‘entrepreneur’ as a state of mind or being, with a slight disregard for ‘fear of the unknown’ a title that is then bestowed by others.”
Currently, Sam Daniel is the Director and CEO of Rachel & Sam Media & Entertainment Private Limited and is striving to develop and expand the business of the company in India and abroad. His roles and responsibilities are diverse, and under his leadership, the company has continued to achieve its milestone. Networking with other business owners has helped Sam Daniel in personal as well as company growth. Apart from this, he also closely pays attention to the customers and their feedbacks which in turn aids in enhancing the services. Moreover, most of the leaders believe in representing themselves as ‘professional’, although, Sam Daniel witnessed that being real is what has helped the company to take off. Being responsible for distinctive roles becomes exhausting after a while, thus, Sam Daniel never neglects his yearly vacations. He further explains, “After consecutively growing more than 100 percent year over year, my workaholic nature burned me out. The enthusiasm and unique POV I originally brought to my company had faded because I neglected to recharge.”
Pioneer and Innovator in the Media Industry
Rachel & Sam Media & Entertainment Private Limited is a pioneer and innovator in the Indian media industry. It has acquired, co-produced, and distributed some of the most recognized and successful media and entertainment services in India. The company specializes in religious albums, media, advertisement, casting, print media, events, promotion, licensing and branding of corporate brands in India and aboard, creativity, film production, TV serials and commercials across theatrical, television and other formats. “Our strategy is driven by the scale and variety of our content and the global exploitation of that content through diverse channels,” asserts Sam Daniel.
The Indian media industry is on a high-growth journey and by 2025 it is predicted to double its economy. In accordance with this, Rachel & Sam Media & Entertainment Private Limited aims to expand its operations and double the success rate at the Sam Daniel time. Sam Daniel understands that the team will play an important role to achieve this milestone. Due to the pandemic, Sam Daniel is closely paying attention to community healthcare. Besides, he is also empowering the team members and creating a positive environment.
Sustaining and Overcoming the Pandemic
Protecting employees and redeploying their unique capabilities to meet society’s immediate needs could build more loyal workforces and public virtuous will while helping to fight a global crisis. Sam Daniel is affirmative that governments, central banks, and the WHO will not defeat coronavirus alone, thus the private sector must play a key role. In the dawn of crisis, the political leaders, financial institutions, and global governance structures are being severely tested. The many layers of COVID19 crisis are unfolding, which is also directing at several opportunities.
Sam Daniel highlights the fact that over the years employees and consumers have rewarded the businesses that use their powers for good. Hence, companies that uphold clear values to advance a bigger societal mission regularly exhibit stronger financial performance. Some businesses can redeploy their unique capabilities to meet society’s immediate needs, for instance, luxury goods giant LVMH is producing hand sanitizer in its perfume factories, for use in French hospitals; Johnson & Johnson has donated a million surgical masks to Chinese health workers; IKEA is helping to kit-out hospitals in affected areas. As companies respond to COVID-19, business leaders who back moral statements with practical action will stand out.
Message for the readers
“Promoting health and safety is priority number one; next is trying to mitigate the financial impact, especially for staff on precarious contracts.”
