Last updated : April 17, 2008
Media, the media firm of the Future Group, has acquired the media rights for three players in the retail space: My Dollarstore, R-Mall in Mulund (Mumbai) and the upcoming Oberoi Mall, also in Mumbai.
Future Media, which aims to create opportunities in spaces of consumption within and outside the Future Group, holds the rights for in-store television at each of these places. The media company has signed different kinds of contracts with each of the retailers - a six year (three plus three) contract with R-Mall and three year (one plus two) contracts with My Dollarstore and Oberoi Mall.
Ajay Bose, director, acquisitions, Future Media, says, "Talking about the financials, all I can say is that there is a barter system involved with some of these clients; with the others, it is a 100 per cent revenue sharing model."
My Dollarstore, which is run by Sankalp Retail Value Stores, has assigned exclusive rights to Future Media to install and manage around 86 LCD screens in 41 stores across various locations in the country; the number of screens at each location will vary between two and three, depending on the size of the stores. The stores will have Future TV installed in them.
Saumitra Ghatak, chief executive officer, My Dollarstore, says, "Television screens, besides helping improve imagery within stores, are a great way of monetising vacant spaces. From the consumer point of view, they provide engagement by keeping them updated with the latest happenings, such as promotions, contests and discount schemes. We are happy with the association with Future Media and hope to have a mutually beneficial partnership."
The transaction with R-Mall entails display of Future TV and Future Visual Spaces as well. R-Mall has granted Future Media permission to install LCD screens, which will run the Future TV network, and to market the advertising spaces within the mall premises, which fall in the Future Visual Spaces category. The deal includes installation and manning of an indoor LED screen at the entrance of the mall.
Commenting on the alliance, Sandeep Runwal, director, Runwal Group, says, "As retailers, we understand the potential in-store media like television and visual spaces hold. We have the consumer knowledge which is crucial in providing media solutions to various brands. Our association with Future Media will help leverage it to the maximum."
The Oberoi Mall, which is coming up in Kandivali, has assigned Future exclusive rights to install and manage LCD screens across the property, which will run the Future TV network. The mall promises to be a landmark entertainment destination, housing various Indian and international brands as well as a PVR multiplex.First Published : April 17, 2008