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Current Student Blogs

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New post 09 Apr 2018, 10:29
bschooladmit20 wrote:
You’re excited to move back to your home country, after living abroad for ten years.
Not every decision or act is intended to be an act of rebellion. But maybe it needs to be.


About 2%. Thats the count of women in the Tech sector (sans Medicine) in NL (EU). They give subsidies to companies that employ females. If you are 'different' and have the right sex then you ring several bells. Enjoy! About 30% of the tech females are Indian. My parents were not that educated, not much rich either. But they treated my sister equally, more or less. She knew the only opportunity she had was to study. Most of us are anyway driven to do that. Thankfully she had the brains to match and suceeded really well, as an MD. But, yes the society has norms and she was persuaded to keep a day only, limited working hour job. Sob. But really, she had to let go of a more ambitious Surgeon role, in doing so.

Right on about the sexism. Gone are the days of burning your intimate attire. You need to look good and feminine, to be marketable, with war paint on your face and all. People in NL are truly very liberated and for a long time. Yet, they have the lowest women participation in the workforce in EU. Average I think is about 2 full workdays per week. Why would you think women, when given the opportunity, and that too for a long enough time, choose that? Well, they are strong enough to acknowlede that they are quite naturally the best at (and better enjoy) looking after a family. And that a family needs time. Sorry, even I find this a bit sexist. Somehow, most women with nice jobs that I know still like cooking, for their family! Social programming, duh.

Google “bbc pakistani women doctors” and you get the picture, when women partially rebel. Please do not judge yourself by the same (traditional) standards of success as (traditional) 'men'. You can do much better, in a different way.

I am all for affirmative action, reservations Indian style. But this unwritten 'diversity' rule somehow means (otherwise priviledged) females are granted 'special' status. A 'first' woman in outer space, as if, women were somehow impaired to work in space, in the first place. Fluffy news alert!

PS: My social circuit is all haywire. I try to follow my own thoughts, not programmed by society. And fair is, simply, fair.
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Joined: 29 Jun 2016
Posts: 90
Location: Philippines
GMAT 1: 660 Q47 V34
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Re: Current Student Blogs  [#permalink]

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New post 26 Apr 2018, 06:01
FROM Sheiquiroga: Filing Your First Taxes for Rotman MBA Students
Shared generously by Siddhant Saxena

Benefit: The tuition fees you pay determine your non-refundable tax credits, which can offset your future tax bill.

Documents you need and where to get them:

1. Go to Acorn > Tax Forms (under Finances)
2. Download the 2017 - T4A and T2202A forms (T4A is for scholarship)

Online Process Eligibility:

1. You must be a resident of Canada for filing tax returns online. A resident is someone who either has dependents here in Canada, or Rent / Owns a Home in Canada, stayed in Canada for more than 183 days etc. See this to establish your status: https://www.canada.ca/en/revenue-agency ... tatus.html OR https://workingholidayincanada.com/dete ... cy-status/
2. Your SIN Number must begin with 9

Online Process:

Now go to Simpletax.ca (It's free!), the following needs to be kept in mind:

1. Update your details (you will need SIN number)
2. Yes - you are a resident of Canada for tax purposes (see eligibility)
3. Update your Foreign income for the year 2017 (before moving to Canada)
4. If you are living On-Campus > Select No for Ontario Trillium Benefit, Yes - if you are paying rent for off-campus residence
5. Create a CRA account (the official tax website). If you have more than one word in your last name leave no spaces.
6. In "Your Taxes" section > Search for T4A and T2202A forms and add them to your application.

T4A: Name of Payer: University of Toronto, in other boxes, type - 105 and enter your scholarship amount as given in the T4A document you downloaded from acorn,

T2202A:
Were you a post-secondary student in 2017 > Yes
Program name is > MG MBA,
The column values A,B,C are given in the T2202A form downloaded from acorn (See total).

If you did a part time job or earned money on the side from other sources > You will need the T4 Application form from your employer.

The tax credit claim is for the period Jan 2017 to Dec 2017. Hence, the entire tuition fees won't be claimed nor would the summer internship (that's 2018 claim).

Duration: 5-10 mins
Deadline: If you owe taxes - 30 April (Everyone else: May)

Note:
1. You do not need to send via mail. If you are a resident of Canada for tax purposes (which we all are) or have a SIN number beginning with 9 - it can be done electronically.
2. You should save a PDF copy and print it for your files just in case.

This guide was discussed among the Section 5 group. If you have any suggestions or corrections, please let us know.

Love,

Wondersuite
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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New post 01 May 2018, 17:01
1
1
FROM Bschooladmit20: Startup Lessons at Stanford
I worked on two very different startups, with two very different teams, during my MBA at Stanford.
Image
Image
One team was focused on building a language learning platformfor first-generation immigrants, in order to help them build their confidence and speak English more frequently. We were based at Stanford’s d. school, focused deeply on need-finding using design thinking principles, and had two product designers and a computer science major on our team.
The other team’s goal was to build a non-invasive tool to help glaucoma patients measure their eye pressure, in order to proactively manage their condition, and prevent blindness. We were based at Stanford’s Engineering School, had two electrical engineers, a patent-holder and professor, and an economics major on the team.
I am very grateful for the diversity of experience and learning, but am also struck by how transferable the lessons I learned from these very different experiences are. These are my key takeaways:
Start somewhere: your product will never be ready
The starting point for both teams was different: on the first team, we had a blank sheet of paper, and began by defining user need. On the second team, we had a patented technology that we were trying to commercialise. Our level of fear, uncertainty and excitement differed based on our stage of development. However, surprisingly, this didn’t make as much difference as I thought it would to our day-to-day activities- except when it came to raising money.
You’re always going to have to continuously iterate and improve your product, no matter the stage you’re at: the challenge is ensuring you have enough time and resource to be able to fail fast, and developing a clear set of priorities of what you want to change and build over time, based on user feedback. Defining our minimum viable product was often one of the most challenging exercises we undertook at every stage.
Empathise with and delight your customers
Both teams used design thinking processes to understand consumer need, prototype and iterate, given that we were building consumer-focused software in both cases, and were aiming to help our users create new habits, albeit in very different contexts.
We were often surprised at how wrong our initial assumptions about our target consumers were, when we did in-depth consumer interviews to gain insight into their pain-points.
You have to be able to develop empathy with your users, and put yourself in their shoes when you’re trying to develop an understanding of their needs, or get feedback on your product. However, you also have to retain the ability to deviate from what they tell you they want- and surprise them- in the hope of delighting them- because they don’t always know what they want or need until they see it.
Great processes are easier to replicate than cultures
Both the teams I worked on very extremely high functioning. The diversity of skill-sets and perspectives, based on education, professional experience and nationality, greatly enhanced our productivity. However, the same factors also sometimes made seemingly straightforward tasks, such as scheduling interviews and gathering customer feedback, more difficult. We worked through this by agreeing upon team norms and values (such as being transparent, asking for and giving regular feedback, asking for help when needed) upfront. The importance of regularly discussing, repeating and reinforcing these principles will stick with me.
I also learned the importance of ensuring that the team had a shared vocabulary, was unafraid to ask ‘basic’ questions, and challenge the direction we were heading in: most of our mistakes were a direct result of miscommunication or ego.
People management matters as much as product management
At the start, I was insecure about my inability to code, given the strong engineering talent on the second team- but I quickly realised how much value I could add, through ensuring the team was working on a shared vision, that our work-streams were being actively managed and coordinated, and that we stayed aligned as a team across important and/or difficult decisions.
I learned that being able to read, motivate and manage people matters as much, if not at times more, than the product you’re building. You have to be able to influence stakeholders at every stage: you’re constantly selling your idea to existing and new customers, investors, potential hires and your team.
Mission matters
Both ventures had an ambitious mission- this also ended up being an importance force in attracting great people, and allowing us to stay aligned. If you begin by building a stellar team, who’s bought into the company’s mission, you can work together to execute on all the basic steps a startup needs to follow- such as choosing a target market, building and testing prototypes, and experimenting with business models. However, if you’re unable to motivate and align your team, it doesn’t matter how great your idea or product is.
Feedback is a gift: you’re a work in progress
If you can’t manage yourself, you can’t manage others. Being able to see yourself from a distance, continuously learn, hire for or delegate your weaknesses, and staying unemotional about your work matters. Your product will always be a work in progress: so will you.
We set up quarterly team feedback sessions for both teams: and I was always impressed at how much I learned about myself and others from these. These sessions also greatly helped build relationships within the team. They both helped clear the air when necessary, and build trust.
Image
Startup Lessons at Stanford was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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Joined: 27 Sep 2015
Posts: 115
Schools: Stanford '14
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Re: Current Student Blogs  [#permalink]

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New post 01 May 2018, 19:01
FROM Bschooladmit20: Startup Adventures at Stanford
I worked on two very different startups, with two very different teams, during my MBA at Stanford.
Image
Image
One team was focused on building a language learning platformfor first-generation immigrants, in order to help them build their confidence and speak English more frequently. We were based at Stanford’s d. school, focused deeply on need-finding using design thinking principles, and had two product designers and a computer science major on our team.
The other team’s goal was to build a non-invasive tool to help glaucoma patients measure their eye pressure, in order to proactively manage their condition, and prevent blindness. We were based at Stanford’s Engineering School, had two electrical engineers, a patent-holder and professor, and an economics major on the team.
I am very grateful for the diversity of experience and learning, but am also struck by how transferable the lessons from these very different experiences are. These are my key takeaways:
Start somewhere: your product will never be ready
The starting point for both teams was different: on the first team, we had a blank sheet of paper, and began by defining user need. On the second team, we had a patented technology that we were trying to commercialise. Our level of fear, uncertainty and excitement differed based on our stage of development. However, surprisingly, this didn’t make as much difference as I thought it would to our day-to-day activities- except when it came to raising money.
You’re always going to have to continuously iterate and improve your product, no matter the stage you’re at: the challenge is ensuring you have enough time and resource to be able to fail fast, and developing a clear set of priorities of what you want to change and build over time, based on user feedback. Defining our minimum viable product was often one of the most challenging exercises we undertook at every stage.
Empathise with and delight your customers
Both teams used design thinking processes to understand consumer need, prototype and iterate, given that we were building consumer-focused software in both cases, and were aiming to help our users create new habits, albeit in very different contexts.
We were often surprised at how wrong our initial assumptions about our target consumers were, when we did in-depth consumer interviews to gain insight into their pain-points.
You have to be able to develop empathy with your users, and put yourself in their shoes when you’re trying to develop an understanding of their needs, or get feedback on your product. However, you also have to retain the ability to deviate from what they tell you they want- and surprise them- in the hope of delighting them- because they don’t always know what they want or need until they see it.
Great processes are easier to replicate than cultures
Both the teams I worked on very extremely high functioning. The diversity of skill-sets and perspectives, based on education, professional experience and nationality, greatly enhanced our productivity. However, the same factors also sometimes made seemingly straightforward tasks, such as scheduling interviews and gathering customer feedback, more difficult. We worked through this by agreeing upon team norms and values (such as being transparent, asking for and giving regular feedback, asking for help when needed) upfront. The importance of regularly discussing, repeating and reinforcing these principles will stick with me.
I also learned the importance of ensuring that the team had a shared vocabulary, was unafraid to ask ‘basic’ questions, and challenge the direction we were heading in: most of our mistakes were a direct result of miscommunication or ego.
People management matters as much as product management
At the start, I was insecure about my inability to code, given the strong engineering talent on the second team- but I quickly realised how much value I could add, through ensuring the team was working on a shared vision, that our work-streams were being actively managed and coordinated, and that we stayed aligned as a team across important and/or difficult decisions.
I learned that being able to read, motivate and manage people matters as much, if not at times more, than the product you’re building.You have to be able to influence stakeholders at every stage: you’re constantly selling your idea to existing and new customers, investors, potential hires and your team.
Mission matters
Both ventures had an ambitious mission- this also ended up being an importance force in attracting great people, and allowing us to stay aligned. If you begin by building a stellar team, who’s bought into the company’s mission, you can work together to execute on all the basic steps a startup needs to follow- such as choosing a target market, building and testing prototypes, and experimenting with business models. However, if you’re unable to motivate and align your team, it doesn’t matter how great your idea or product is.
Feedback is a gift: you’re a work in progress
If you can’t manage yourself, you can’t manage others. Being able to see yourself from a distance, continuously learn, hire for or delegate your weaknesses, and staying unemotional about your work matters.
Your product will always be a work in progress: so will you.We set up quarterly team feedback sessions for both teams: and I was always impressed at how much I learned about myself and others from these. These sessions also greatly helped build relationships within the team. They both helped clear the air when necessary, and build trust.
Image
Startup Adventures at Stanford was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
Manager
Manager
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Joined: 27 Sep 2015
Posts: 115
Schools: Stanford '14
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Re: Current Student Blogs  [#permalink]

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New post 15 May 2018, 17:01
FROM Bschooladmit20: Silicon Valley + Hollywood = ?
Image
Via Netflix BlogWilliam Goldman, a two time Oscar-winning screenwriter, famously said, “Nobody knows anything…Not one person in the entire motion picture field knows for a certainty what’s going to work. Every time out it’s a guess and, if you’re lucky, an educated one.”
However, due to the explosion of data and analytics tools, we now have the ability to analyse patterns such as viewing behaviour and user feedback (through social media) real-time. Over time, this data could allow creators to predict the most effective casting and plot lines. For example, when the Times Group used insights from a data analytics app, Parse.ly to reorder their gallery stories, their page views went up by 70%. The editors now use the tool to shape the direction of stories, using real-time data of audience engagement.
Hollywood is already redefining its relationshipbetween the creator and consumer: various tools are allowing production houses to incorporate audience reactions into how content gets created, marketed and distributed. IBM offers social sentiment analysis to gauge the emotional response to films through Twitter and Facebook responses. These tools can not only highlight the responses, but attempt to explain the reasons for these responses.
This of, course, is limiting: if you use historical data to predict future behaviour, you are unlikely to support potentially game-changing scripts or talent. Moreover, key Hollywood executives such as Richard Plepler and Nina Jacobson, have publicly stated that they believe that data science can only be used to an extent in content creation: in the end, the fundamentals- such as the quality of story, talent and production value- matter more.
Additionally, the literature on what makes a ‘hit’ TV show or film highlights that while there are certain formulas you can follow to create appealing content, ultimately even the Silicon Valley players such as Netflix and Facebook agree that data analytics are better utilised in 1) content distribution and audience targeting/ personalisation of contentrecommendations and 2) understanding audience engagement.
And yet, the content production process itself needs to adapt, given the 1) influx of capital into original programming, as tech players look to compete for high quality content and 2) changing audience behaviours and tastes and 3) the rapid globalisation of content distribution. In 2017 itself, Apple and Facebook both budgeted over $1 billion for original programming, and Netflix announced that it planned to spend $8 billion on content. This year, there are over 500 scripted TV shows being made- which is 2x the number in 2012.
The amount of content being made, the variety of content being made, and the locations at which the content is being created is increasing rapidly, while the supply of talent, and audience attentions spans stays constant. The industry has already been disrupted: it needs the tools to adapt. I believe data science can be used to disrupt the content production process itself.Given that the most time consuming parts of the process can be 1) storyboarding and shot list generation 2) schedule optimisation and 3 budgeting: data science could be used to automate the more tedious processes, so that content creators can focus on the storytelling + other more creative parts of the process.
Project management appsare already helping production teams collaborate across teams and locations. However, these apps face severe challenges when it comes to large-scale adoption, given that production teams are often freelance teams that work together for a period of time, and come from a non tech savvy culture. When Netflix introduced an ecosystem of apps to improve efficiency, it found encouraging the adoption of this new technology difficult at the start.
However, usingAI for ‘agile’ content creationcould both reduce script rewriting time and improve production planning by running ‘what if’ scenarios to test script variations, and removing certain elements of production to reduce costs. This would also not require wholesale adoption across production teams, as is required in the case of production management apps.
Netflix is already pioneering this approach. As highlighted in it’s Medium Blog, this is a necessity, given the scale at which it is producing content:
“Each production is a mountain of operational and logistical challenges that consumes and produces tremendous amounts of data. At Netflix’s scale, this is further amplified to levels seldom encountered before in the history of entertainment. This has created opportunities to organize, analyze and model this data that are equally singular in history. This is where data science can aid the art of producing entertainment.”
To provide a few examples, the company models cost estimations of how much a production will cost, that can deal with data sparsity. It also generates schedules using mathematical optimisation. As the company expands globally, it is using visualisation to analyse resource dependency and anticipate production delivery patterns. Lastly it uses prediction algorithms to sequence and scale its content localisation slating across markets.
Clearly, the exploration of applying data science to pre and post content production is a nascent field. As more tech platforms begin to invest in content at a large-scale globally, the use of data science will become a necessity, both in terms of efficiency of content production and content economics. Given this approach plays into these companies’ strengths, I think a large-scale change in culture is likely afoot. I look forward to seeing whether AI can successfully be applied to analysing scripts and storylines over the next few years, as several ventures are already attempting to tackle this complex challenge.
I’m also planning to explore whether data science can help identify new talent. The stars seem to be aligning. The need for new, diverse voices in Hollywood- across production, acting and writing- is resoundingly clear. The appetite for this new crop of talent has already been validated at the box office. On the other hand, there is an entire generation of social media stars that has built up a following, and talent on Youtube that is waiting to be discovered. We’re already seeing companies using AI to identify future leaders: how long will it be before this is applied to future stars and influencers?
Image
Silicon Valley + Hollywood = ? was originally published in The Startup on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
Manager
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Joined: 27 Sep 2015
Posts: 115
Schools: Stanford '14
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Re: Current Student Blogs  [#permalink]

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New post 16 May 2018, 21:02
2
FROM Bschooladmit20: Silicon Valley + Hollywood = ?
Image
Via Netflix BlogWilliam Goldman, a two time Oscar-winning screenwriter, famously said, “Nobody knows anything…Not one person in the entire motion picture field knows for a certainty what’s going to work. Every time out it’s a guess and, if you’re lucky, an educated one.”
However, due to the explosion of data and analytics tools, we now have the ability to analyse patterns such as viewing behaviour and user feedback (through social media) real-time. Over time, this data could allow creators to predict the most effective casting and plot lines. For example, when the Times Group used insights from a data analytics app, Parse.ly to reorder their gallery stories, their page views went up by 70%. The editors now use the tool to shape the direction of stories, using real-time data of audience engagement.
Hollywood is already redefining its relationshipbetween the creator and consumer: various tools are allowing production houses to incorporate audience reactions into how content gets created, marketed and distributed. IBM offers social sentiment analysis to gauge the emotional response to films through Twitter and Facebook responses. These tools can not only highlight the responses, but attempt to explain the reasons for these responses.
This of, course, is limiting: if you use historical data to predict future behaviour, you are unlikely to support potentially game-changing scripts or talent. Moreover, key Hollywood executives such as Richard Plepler and Nina Jacobson, have publicly stated that they believe that data science can only be used to an extent in content creation: in the end, the fundamentals- such as the quality of story, talent and production value- matter more.
Additionally, the literature on what makes a ‘hit’ TV show or film highlights that while there are certain formulas you can follow to create appealing content, ultimately even the Silicon Valley players such as Netflix and Facebook agree that data analytics are better utilised in 1) content distribution and audience targeting/ personalisation of contentrecommendations and 2) understanding audience engagement.
And yet, the content production process itself needs to adapt, given the 1) influx of capital into original programming, as tech players look to compete for high quality content and 2) changing audience behaviours and tastes and 3) the rapid globalisation of content distribution. In 2017 itself, Apple and Facebook both budgeted over $1 billion for original programming, and Netflix announced that it planned to spend $8 billion on content. This year, there are over 500 scripted TV shows being made- which is 2x the number in 2012.
The amount of content being made, the variety of content being made, and the locations at which the content is being created is increasing rapidly, while the supply of talent, and audience attentions spans stays constant. The industry has already been disrupted: it needs the tools to adapt. I believe data science can be used to disrupt the content production process itself.Given that the most time consuming parts of the process can be 1) storyboarding and shot list generation 2) schedule optimisation and 3 budgeting: data science could be used to automate the more tedious processes, so that content creators can focus on the storytelling + other more creative parts of the process.
Project management appsare already helping production teams collaborate across teams and locations. However, these apps face severe challenges when it comes to large-scale adoption, given that production teams are often freelance teams that work together for a period of time, and come from a non tech savvy culture. When Netflix introduced an ecosystem of apps to improve efficiency, it found encouraging the adoption of this new technology difficult at the start.
However, usingAI for ‘agile’ content creationcould both reduce script rewriting time and improve production planning by running ‘what if’ scenarios to test script variations, and removing certain elements of production to reduce costs. This would also not require wholesale adoption across production teams, as is required in the case of production management apps.
Netflix is already pioneering this approach. As highlighted in it’s Medium Blog, this is a necessity, given the scale at which it is producing content:
“Each production is a mountain of operational and logistical challenges that consumes and produces tremendous amounts of data. At Netflix’s scale, this is further amplified to levels seldom encountered before in the history of entertainment. This has created opportunities to organize, analyze and model this data that are equally singular in history. This is where data science can aid the art of producing entertainment.”
To provide a few examples, the company models cost estimations of how much a production will cost, that can deal with data sparsity. It also generates schedules using mathematical optimisation. As the company expands globally, it is using visualisation to analyse resource dependency and anticipate production delivery patterns. Lastly it uses prediction algorithms to sequence and scale its content localisation slating across markets.
Clearly, the exploration of applying data science to pre and post content production is a nascent field. As more tech platforms begin to invest in content at a large-scale globally, the use of data science will become a necessity, both in terms of efficiency of content production and content economics. Given this approach plays into these companies’ strengths, I think a large-scale change in culture is likely afoot. I’m excited to see whether AI can successfully be applied to analysing scripts and storylines over the next few years; several ventures are already attempting to tackle this complex challenge.
A blue ocean space is using data science to identify new talent. The stars seem to be aligning in this area. The need for new, diverse voices in Hollywood- across production, acting and writing- is resoundingly clear. The appetite for this new crop of talent has already been validated at the box office. On the other hand, there is an entire generation of social media stars that has built up a following, and talent on Youtube that is waiting to be discovered. We’re already seeing companies attempting to use AI to identify future leaders: how long will it be before this is applied to future stars and influencers?
Image
Silicon Valley + Hollywood = ? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
Manager
Manager
avatar
Joined: 27 Sep 2015
Posts: 115
Schools: Stanford '14
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Re: Current Student Blogs  [#permalink]

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New post 16 May 2018, 22:01
FROM Bschooladmit20: Big Data + Hollywood = ?
Image
Via Netflix BlogWilliam Goldman, a two time Oscar-winning screenwriter, famously said, “Nobody knows anything…Not one person in the entire motion picture field knows for a certainty what’s going to work. Every time out it’s a guess and, if you’re lucky, an educated one.”
However, due to the explosion of data and analytics tools, we now have the ability to analyse patterns such as viewing behaviour and user feedback (through social media) real-time. Over time, this data could allow creators to predict the most effective casting and plot lines. For example, when the Times Group used insights from a data analytics app, Parse.ly to reorder their gallery stories, their page views went up by 70%. The editors now use the tool to shape the direction of stories, using real-time data of audience engagement.
Hollywood is already redefining its relationshipbetween the creator and consumer: various tools are allowing production houses to incorporate audience reactions into how content gets created, marketed and distributed. IBM offers social sentiment analysis to gauge the emotional response to films through Twitter and Facebook responses. These tools can not only highlight the responses, but attempt to explain the reasons for these responses.
This of, course, is limiting: if you use historical data to predict future behaviour, you are unlikely to support potentially game-changing scripts or talent. Moreover, key Hollywood executives such as Richard Plepler and Nina Jacobson, have publicly stated that they believe that data science can only be used to an extent in content creation: in the end, the fundamentals- such as the quality of story, talent and production value- matter more.
Additionally, the literature on what makes a ‘hit’ TV show or film highlights that while there are certain formulas you can follow to create appealing content, ultimately even the Silicon Valley players such as Netflix and Facebook agree that data analytics are better utilised in 1) content distribution and audience targeting/ personalisation of contentrecommendations and 2) understanding audience engagement.
And yet, the content production process itself needs to adapt, given the 1) influx of capital into original programming, as tech players look to compete for high quality content and 2) changing audience behaviours and tastes and 3) the rapid globalisation of content distribution. In 2017 itself, Apple and Facebook both budgeted over $1 billion for original programming, and Netflix announced that it planned to spend $8 billion on content. This year, there are over 500 scripted TV shows being made- which is 2x the number in 2012.
The amount of content being made, the variety of content being made, and the locations at which the content is being created is increasing rapidly, while the supply of talent, and audience attentions spans stays constant. The industry has already been disrupted: it needs the tools to adapt. I believe data science can be used to disrupt the content production process itself.Given that the most time consuming parts of the process can be 1) storyboarding and shot list generation 2) schedule optimisation and 3 budgeting: data science could be used to automate the more tedious processes, so that content creators can focus on the storytelling + other more creative parts of the process.
Project management appsare already helping production teams collaborate across teams and locations. However, these apps face severe challenges when it comes to large-scale adoption, given that production teams are often freelance teams that work together for a period of time, and come from a non tech savvy culture. When Netflix introduced an ecosystem of apps to improve efficiency, it found encouraging the adoption of this new technology difficult at the start.
However, usingAI for ‘agile’ content creationcould both reduce script rewriting time and improve production planning by running ‘what if’ scenarios to test script variations, and removing certain elements of production to reduce costs. This would also not require wholesale adoption across production teams, as is required in the case of production management apps.
Netflix is already pioneering this approach. As highlighted in it’s Medium Blog, this is a necessity, given the scale at which it is producing content:
“Each production is a mountain of operational and logistical challenges that consumes and produces tremendous amounts of data. At Netflix’s scale, this is further amplified to levels seldom encountered before in the history of entertainment. This has created opportunities to organize, analyze and model this data that are equally singular in history. This is where data science can aid the art of producing entertainment.”
To provide a few examples, the company models cost estimations of how much a production will cost, that can deal with data sparsity. It also generates schedules using mathematical optimisation. As the company expands globally, it is using visualisation to analyse resource dependency and anticipate production delivery patterns. Lastly it uses prediction algorithms to sequence and scale its content localisation slating across markets.
Clearly, the exploration of applying data science to pre and post content production is a nascent field. As more tech platforms begin to invest in content at a large-scale globally, the use of data science will become a necessity, both in terms of efficiency of content production and content economics. Given this approach plays into these companies’ strengths, I think a large-scale change in culture is likely afoot. I’m excited to see whether AI can successfully be applied to analysing scripts and storylines over the next few years; several ventures are already attempting to tackle this complex challenge.
A blue ocean space is using data science to identify new talent. The stars seem to be aligning in this area. The need for new, diverse voices in Hollywood- across production, acting and writing- is resoundingly clear. The appetite for this new crop of talent has already been validated at the box office. On the other hand, there is an entire generation of social media stars that has built up a following, and talent on Youtube that is waiting to be discovered. We’re already seeing companies attempting to use AI to identify future leaders: how long will it be before this is applied to future stars and influencers?
Image
Big Data + Hollywood = ? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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More Content, More Hits?  [#permalink]

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New post 21 May 2018, 09:01
FROM Bschooladmit20: More Content, More Hits?
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William Goldman, a two time Oscar-winning screenwriter, famously said, “Nobody knows anything…Not one person in the entire motion picture field knows for a certainty what’s going to work. Every time out it’s a guess and, if you’re lucky, an educated one.”
However, due to the explosion of data and analytics tools, we now have the ability to analyse patterns such as viewing behaviour and user feedback (through social media) real-time. Over time, this data could allow creators to predict the most effective casting and plot lines. For example, when the Times Group used insights from a data analytics app, Parse.ly to reorder their gallery stories, their page views went up by 70%. The editors now use the tool to shape the direction of stories, using real-time data of audience engagement.
Hollywood is already redefining its relationshipbetween the creator and consumer: various tools are allowing production houses to incorporate audience reactions into how content gets created, marketed and distributed. IBM offers social sentiment analysis to gauge the emotional response to films through Twitter and Facebook responses. These tools can not only highlight the responses, but attempt to explain the reasons for these responses.
This of, course, is limiting: if you use historical data to predict future behaviour, you are unlikely to support potentially game-changing scripts or talent. Moreover, key Hollywood executives such as Richard Plepler and Nina Jacobson, have publicly stated that they believe that data science can only be used to an extent in content creation: in the end, the fundamentals- such as the quality of story, talent and production value- matter more.
Additionally, the literature on what makes a ‘hit’ TV show or film highlights that while there are certain formulas you can follow to create appealing content, ultimately even the Silicon Valley players such as Netflix and Facebook agree that data analytics are better utilised in 1) content distribution and audience targeting/ personalisation of contentrecommendations and 2) understanding audience engagement.
And yet, the content production process itself needs to adapt, given the 1) influx of capital into original programming, as tech players look to compete for high quality content and 2) changing audience behaviours and tastes and 3) the rapid globalisation of content distribution. In 2017 itself, Apple and Facebook both budgeted over $1 billion for original programming, and Netflix announced that it planned to spend $8 billion on content. This year, there are over 500 scripted TV shows being made- which is 2x the number in 2012.
The amount of content being made, the variety of content being made, and the locations at which the content is being created is increasing rapidly, while the supply of talent, and audience attentions spans stays constant. The industry has already been disrupted: it needs the tools to adapt. I believe data science can be used to disrupt the content production process itself.Given that the most time consuming parts of the process can be 1) storyboarding and shot list generation 2) schedule optimisation and 3 budgeting: data science could be used to automate the more tedious processes, so that content creators can focus on the storytelling + other more creative parts of the process.
Project management appsare already helping production teams collaborate across teams and locations. However, these apps face severe challenges when it comes to large-scale adoption, given that production teams are often freelance teams that work together for a period of time, and come from a non tech savvy culture. When Netflix introduced an ecosystem of apps to improve efficiency, it found encouraging the adoption of this new technology difficult at the start.
However, usingAI for ‘agile’ content creationcould both reduce script rewriting time and improve production planning by running ‘what if’ scenarios to test script variations, and removing certain elements of production to reduce costs. This would also not require wholesale adoption across production teams, as is required in the case of production management apps.
Netflix is already pioneering this approach. As highlighted in it’s Medium Blog, this is a necessity, given the scale at which it is producing content:
“Each production is a mountain of operational and logistical challenges that consumes and produces tremendous amounts of data. At Netflix’s scale, this is further amplified to levels seldom encountered before in the history of entertainment. This has created opportunities to organize, analyze and model this data that are equally singular in history. This is where data science can aid the art of producing entertainment.”
To provide a few examples, the company models cost estimations of how much a production will cost, that can deal with data sparsity. It also generates schedules using mathematical optimisation. As the company expands globally, it is using visualisation to analyse resource dependency and anticipate production delivery patterns. Lastly it uses prediction algorithms to sequence and scale its content localisation slating across markets.
Clearly, the exploration of applying data science to pre and post content production is a nascent field. As more tech platforms begin to invest in content at a large-scale globally, the use of data science will become a necessity, both in terms of efficiency of content production and content economics. Given this approach plays into these companies’ strengths, I think a large-scale change in culture is likely afoot. I’m excited to see whether AI can successfully be applied to analysing scripts and storylines over the next few years; several ventures are already attempting to tackle this complex challenge.
A blue ocean space is using data science to identify new talent. The stars seem to be aligning in this area. The need for new, diverse voices in Hollywood- across production, acting and writing- is resoundingly clear. The appetite for this new crop of talent has already been validated at the box office. On the other hand, there is an entire generation of social media stars that has built up a following, and talent on Youtube that is waiting to be discovered. We’re already seeing companies attempting to use AI to identify future leaders: how long will it be before this is applied to future stars and influencers?
Image
More Content, More Hits? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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Getting Creative: More Content, More Hits?  [#permalink]

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New post 21 May 2018, 11:02
FROM Bschooladmit20: Getting Creative: More Content, More Hits?
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William Goldman, a two time Oscar-winning screenwriter, famously said, “Nobody knows anything…Not one person in the entire motion picture field knows for a certainty what’s going to work. Every time out it’s a guess and, if you’re lucky, an educated one.”
However, due to the explosion of data and analytics tools, we now have the ability to analyse patterns such as viewing behaviour and user feedback (through social media) real-time. Over time, this data could allow creators to predict the most effective casting and plot lines. For example, when the Times Group used insights from a data analytics app, Parse.ly to reorder their gallery stories, their page views went up by 70%. The editors now use the tool to shape the direction of stories, using real-time data of audience engagement.
Hollywood is already redefining its relationshipbetween the creator and consumer: various tools are allowing production houses to incorporate audience reactions into how content gets created, marketed and distributed. IBM offers social sentiment analysis to gauge the emotional response to films through Twitter and Facebook responses. These tools can not only highlight the responses, but attempt to explain the reasons for these responses.
This of, course, is limiting: if you use historical data to predict future behaviour, you are unlikely to support potentially game-changing scripts or talent. Moreover, key Hollywood executives such as Richard Plepler and Nina Jacobson, have publicly stated that they believe that data science can only be used to an extent in content creation: in the end, the fundamentals- such as the quality of story, talent and production value- matter more.
Additionally, the literature on what makes a ‘hit’ TV show or film highlights that while there are certain formulas you can follow to create appealing content, ultimately even the Silicon Valley players such as Netflix and Facebook agree that data analytics are better utilised in 1) content distribution and audience targeting/ personalisation of contentrecommendations and 2) understanding audience engagement.
And yet, the content production process itself needs to adapt, given the 1) influx of capital into original programming, as tech players look to compete for high quality content and 2) changing audience behaviours and tastes and 3) the rapid globalisation of content distribution. In 2017 itself, Apple and Facebook both budgeted over $1 billion for original programming, and Netflix announced that it planned to spend $8 billion on content. This year, there are over 500 scripted TV shows being made- which is 2x the number in 2012.
The amount of content being made, the variety of content being made, and the locations at which the content is being created is increasing rapidly, while the supply of talent, and audience attentions spans stays constant. The industry has already been disrupted: it needs the tools to adapt. I believe data science can be used to disrupt the content production process itself.Given that the most time consuming parts of the process can be 1) storyboarding and shot list generation 2) schedule optimisation and 3 budgeting: data science could be used to automate the more tedious processes, so that content creators can focus on the storytelling + other more creative parts of the process.
Project management appsare already helping production teams collaborate across teams and locations. However, these apps face severe challenges when it comes to large-scale adoption, given that production teams are often freelance teams that work together for a period of time, and come from a non tech savvy culture. When Netflix introduced an ecosystem of apps to improve efficiency, it found encouraging the adoption of this new technology difficult at the start.
However, usingAI for ‘agile’ content creationcould both reduce script rewriting time and improve production planning by running ‘what if’ scenarios to test script variations, and removing certain elements of production to reduce costs. This would also not require wholesale adoption across production teams, as is required in the case of production management apps.
Netflix is already pioneering this approach. As highlighted in it’s Medium Blog, this is a necessity, given the scale at which it is producing content:
“Each production is a mountain of operational and logistical challenges that consumes and produces tremendous amounts of data. At Netflix’s scale, this is further amplified to levels seldom encountered before in the history of entertainment. This has created opportunities to organize, analyze and model this data that are equally singular in history. This is where data science can aid the art of producing entertainment.”
To provide a few examples, the company models cost estimations of how much a production will cost, that can deal with data sparsity. It also generates schedules using mathematical optimisation. As the company expands globally, it is using visualisation to analyse resource dependency and anticipate production delivery patterns. Lastly it uses prediction algorithms to sequence and scale its content localisation slating across markets.
Clearly, the exploration of applying data science to pre and post content production is a nascent field. As more tech platforms begin to invest in content at a large-scale globally, the use of data science will become a necessity, both in terms of efficiency of content production and content economics. Given this approach plays into these companies’ strengths, I think a large-scale change in culture is likely afoot. I’m excited to see whether AI can successfully be applied to analysing scripts and storylines over the next few years; several ventures are already attempting to tackle this complex challenge.
A blue ocean space is using data science to identify new talent. The stars seem to be aligning in this area. The need for new, diverse voices in Hollywood- across production, acting and writing- is resoundingly clear. The appetite for this new crop of talent has already been validated at the box office. On the other hand, there is an entire generation of social media stars that has built up a following, and talent on Youtube that is waiting to be discovered. We’re already seeing companies attempting to use AI to identify future leaders: how long will it be before this is applied to future stars and influencers?
Image
Getting Creative: More Content, More Hits? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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The Next Frontier in Digital Entertainment: Conquering India  [#permalink]

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New post 01 Jun 2018, 16:01
FROM Bschooladmit20: The Next Frontier in Digital Entertainment: Conquering India
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The scale and depth of opportunities presented by the quickly evolving digital entertainment industry in India is astounding. India is an ideal market for new digital entrants. With a population of 1.3 billion and purchasing power of $9.7 trillion, it is unsurprising that both domestic and foreign players are actively working to enter this market. Media giants such as Netflix, Amazon, and Hotstar are investing significant resources to develop strategies for capturing the Indian market. However, none of the current players have managed to gain a significant foothold as yet.
We’ve spoken to a range of startups and media giants in the country over the past ten weeks + conducted surveys + in-depth secondary research, in order to better understand the content war brewing in the country.
This is what we found:
The Market Opportunity
Traditional market factors make digital in India an attractive opportunity. To begin with, the country’s media and entertainment industry continues to grow and is expected to reach $34.8 billion by 2021.
Internet adoption
Contributing to the growing opportunity for digital players is India’s rising internet adoption. In recent years, internet use has grown to an estimated 38%. While this percentage seems low compared to countries like the United States, which boast a 76% penetration rate, when accounting for India’s large population, this still represents nearly 500 million consumers. Additionally, converting the remaining 62% is a large opportunity and makes the market very attractive. Fortunately, digital hopefuls do not have to wait long to receive the benefits of this growth, as penetration is expected to reach the 60% mark by 2020 assuming current trends persist.
While there is a large population living with low disposable income, the country’s striking income inequality creates large — in total numbers — middle and upper classes. These classes have been the largest drivers of internet adoption in the country to date. While controversial, this fragmented internet adoption creates opportunities for digital players who now understand that part of their strategy to win this key market is developing solutions accessible to India’s poorer and rural populations.
Mobile phone adoption
Moreover, increased use of smartphones and cellular data creates new access points for the internet, especially for poor and rural citizens for whom internet adoption is low. The entry of mobile network Reliance Jio by giant Reliance Industries jumpstarted growth in India’s internet use. Since launching in September 2016, the company has “acquired over 100 million users — many connecting to the mobile internet for the first time in their lives.” The introduction of Jio has increased not only the total number of users now accessing online content on their mobile devices, but also the amount of consumption happening on those devices, as the data pricing is now a much lower barrier for price-sensitive consumers.
The Evolving Digital Viewer
India’s first digital consumers were male millennials who lived in urban areas. However, as internet and mobile penetration increase in the country, the profile of the average digital viewer is shifting dramatically.
Between 2016 and 2017, the largest growths in digital usage occurred among three segments: women, older millennials, and rural populations.Women
Women, particularly those in smaller cities, are gaining online access at a fast rate. According to Hotstar’s The India Watch Report 2018, women in cities with populations between 1L and 10L increased online usage growth by a magnitude of three between 2016 and 2017 compared to two times growth for women in metro areas and cities with at least one million inhabitants. This trend is attributed to the increased availability of affordable smartphone options, which allows both women and those in rural areas to access online content on their mobile devices for the first time. This increase in women internet users is also important because women wield a great deal of purchasing power, controlling 44% of household spending.
Millennials
India’s millennial population features strong purchasing power, increased internet access, and sheer volume at over 400 million people. The Indian population is relatively young when compared to other major markets such as China and United States. In fact, according to Morgan Stanley, India is on-pace to be the youngest country in the world by 2020. In addition, they are more educated and globally connected than previous generations, expecting content and information to come to them rather than needing to actively seek it out as older generations did via print and television channels. With these factors at play, it is unsurprising that millennials, and to a lesser extent Generation Zers, are a driving force in India’s increased digital consumption. With mobile and digital adoption (generally) inversely correlated with age, it is therefore unsurprising that consumer brands are targeting India’s millenial and Gen Z populations as key demographics to capture.
Rural India
While people in major metro areas saw a 3.5 times increase in consumption, it was in smaller cities where the jump was most pronounced — a whopping 4.3 times the rate of 2016. Debunking popular thought that metropolitan areas are so-called “cities that never sleep” and therefore have higher consumption than smaller areas, QZ’s report proves that overall consumption as well as binge watching are highest in smaller areas, where their populations stay awake much later than those in large urban areas.
Changing Consumption Patterns
India’s population is increasingly gravitating towards digital media over legacy options in print, TV, and film. According to eMarketer, “digital will take up nearly a third of daily media time in India”. This year, the average adult will spend an estimated 1 hour 18 minutes per day with digital media.
Control, convenience and quality
The first India Watch Report 2018, has highlighted some interesting shifts in consumer habits. The new generation of consumers prioritizes control and convenience. Online video consumption has grown by 5x in the past year, and web series are gaining traction as viewership numbers for some of these series begin to exceed the most watched online TV shows in India for the first.
Interestingly, the report also notes that over 96% of Hostar’s watchtime came from videos that were over 20 minutes long: which leads us to believe that consumers are willing to invest time in high quality content. In terms of genres, sports and Bollywood films continue to drive the highest engagement, with comedy and drama series coming second.
Regional Content
A second key shift is the growth of the popularity of regional content. India has over 125 million English speakers: online, English is still India’s dominant language. Elite/affluent viewers (see appendix for a definition of this demographic) primarily consume content in English: this demographic is projected to increase from 8% to 16% by 2025. However, 70% of these users also view content in other languages.
Importantly, a recent study by KPMG India Google found that nearly 70% of Indians consider local language digital content more reliable than English content. The regional language OTT market is growing at 60–65% every month, while regional content comprises nearly 45% of India’s overall online video content consumption. Additionally, by 2021, an expected 201 million Hindi users — 38% of the Indian internet user base — will be online, according to the same study.Given the rate at which its demand is growing, regional content is expected to comprise 20–25% of the overall digital consumption in 2018. The shift to creating regional content has just begun, and will be a key driver of growth in of content consumption in Indian markets going forward.
Personalised content
Another shift in consumption patterns, highlighted through our interviews and consumer survey, was the move family viewing to individual content consumption. We think this shift is worth noting, as the move from a family-based to private setting creates the opportunity to create more personalized, contemporary content for various demographics.
Stay tuned for Part 2, where we analyse the current players in the media landscape + highlight why we think there is still ample room for new players and approaches, even as the competition for Indian eyeballs heats up.
This article was published by Candace Jones & Natasha Malpani, who are both Stanford MBA Class of 2018 students. Over the past ten weeks, they have conducted interviews with several digital platforms in the country, undertaken secondary research and surveyed over 200 consumers of Indian digital content in order to explore the opportunities and challenges presented by this complex market. This project was supervised by Stanford’s ex-Dean.
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The Next Frontier in Digital Entertainment: Conquering India was originally published in The Startup on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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The Next Frontier in Digital Entertainment: Conquering India (Part 2)  [#permalink]

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New post 01 Jun 2018, 16:01
FROM Bschooladmit20: The Next Frontier in Digital Entertainment: Conquering India (Part 2)
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We’re excited by the scale and depth of opportunities presented by the quickly evolving digital entertainment industry in India. We’ve spoken to a range of startups and media giants in the country over the past ten weeks + conducted surveys + in-depth secondary research, in order to better understand the content war brewing in the country.
In our previous piece, we outlined why we were excited by the market opportunity and changing consumer behaviours. In this article, we explore the strengths and weaknesses of the current digital media players + outline where we think the biggest opportunities lie.
The Current Landscape
Domestic Players
Like many other countries, India’s digital scene has been targeted by both local and foreign players. Additionally, it includes both legacy players adjusting their business lines to include digital offerings as well as new entrants focusing on digital-first and often digital-only strategies. With over 100 million subscribers, India’s streaming market is estimated at $280 million. As of 2017, the top five over-the-top (OTT) providers were Hotstar, Voot, Amazon Prime Video, SonyLiv, and Netflix. Hotstar (an entertainment platform launched by Star India, one of India’s largest media conglomerates, wholly owned by 21st Century Fox) is far and away the leading provider.
Hotstar has 75 million users compared to the next in the list, Voot, which only has 15 million users (though its parent company, Viacom18, claims this figure is closer to 22 million users). As Jonnalagadda notes, “Hotstar, for instance, has the digital rights to HBO shows in the country, and streams Game of Thrones episodes the same day they air in the U.S. That’s obviously a huge pull, as is the fact that Hotstar has exclusive rights to stream cricket and football games in the country.”
India is the largest producer of films in the world in terms of quantity: the industry generated $1.9 billion in 2016. Several of the country’s largest studios, such as Dharma Productions and Red Chillies Entertainment, have signed content deals with Amazon and Netflix: as the war for high quality content and recognizable stars heats up in the country. However, these studios are yet to enter the online series content creation market. AltBalaji, a subscription-based video streaming platform launched in 2017, that is a subsidiary of Balaji Telefilms Limited, one of the largest content production houses, and India’s leading television content creator, could be another significant player in the domestic content creation market, given their focus on creating original and tailor-made shows.
The other categories of players worth mentioning in the domestic digital content space are 1) startups focused on creating short-form/snackable content and online web series targeted at millenials and mainly distributed through social media such as The Viral Fever, FilterCopy and All India Bakchod. These players have typically been operating for 3–4 years, have raised a Series A round, and employ a data-driven approach to content creation and 2) user-generated short-form content, that is primarily distributed through Youtube, is in HIndi or other regional languages, and targeted at Tier 2 and Tier 3 city consumers. Both these players are notably different from the legacy production houses for their digital-first and targeted approach to content creation, and culture.
International Players
The top international (based outside of India) players are Netflix and Amazon. Both players have announced that India is one of their priority markets globally, and are investing millions of dollars into developing original local content. Amazon is producing 20 original series, while Netflix is aiming for 7 this year. Both companies have are also investing aggressively in growing their libraries of licensed Indian content: Amazon has secured the TV rights to Bollywood star Salman Khan’s movies, while Netflix has won global streaming rights for movies produced by Shah Rukh Khan.
In 2015, Netflix announced its plan to aggressively pursue its international expansion plans, with India among its targeted markets. Aside from offering more Indian content, its rollout and offering in India is remarkably similar to that of other markets, having roughly the same price of 500 rupees, which is very close to the $7.99 charged in the US and other markets until recently (prices began rolling out to $9.99 starting October 2015). However, it might be the company’s one-size-fits all approach that ultimately leads to its undoing as a viable contender in this increasingly competitive space. Since launching in India, Netflix has not changed its pricing, even as competing offerings entered at lower price points. Additionally, Netflix’s India office is primarily focused on sales & marketing. Their licensing and original content teams sit in Los Angeles: this lack of local engagement could hamper their understanding of India’s complex market. As of writing, it is industry consensus that India is losing the race in India with only five million monthly users due its high price point and dwindling content library. It will be interesting to see how the company responds to its competitive advantage and market share.
Another major factor in Netflix’s decline in India is the entry of Amazon. Amazon is thought to have invested upwards of $2 billion in its India entry since 2016, offering pricing discounts and other incentives to attract users. In addition to being considerably cheaper than Netflix at 999 rupees for an annual subscription (roughly the equivalent of two months with Netflix), Amazon benefits from providing the video service as part of its larger e-commerce bundle. Additionally, this price point is a small fraction of its US equivalent, which would be over to 6400 rupees instead. However, Amazon has astutely recognized the need to price this market differently from its other locations, slashing its price to compete with lower cost options such as Hotstar and no-cost options such as Voot and pirated content. This strategy has proven successful, with Amazon attracting an impressive 11 monthly subscribers users as of this writing, over double that of Netflix.
Overall through, both platforms have low subscriber figures: Amazon had a little more than 600,000 Prime Video users at the end of 2017 while Netflix had 520,000 subscribers. We believe the real threat to Amazon and Netflix in India is Reliance Industries’ Jio: Jio’s parent company has already acquired a 24.9% stake in AltBalaji and and a 5% stake in Eros International in 2018, and is currently in conversations with several production houses ,as the corporate giant looks to build a foothold in India’s $20bn media & entertainment sector, through original content licensing and regional programming deals, having already reached 130m subscribers through its wireless network.
Our Take: Opportunities and Gaps
The significant diversity in consumption patterns, based on age, gender, geography and socio-economic status in India also builds the case for the creation of more niche, personalised and highly relatable content.We believe that the ‘one size fits all’ model of Bollywood will not work in the digital entertainment space, as consumers begin to prioritize control and convenience.
We believe that digital content will need to be increasingly tailored by age, gender and region, as the profile of users coming online changes, We are particularly excited by the opportunity to create more women-focused content, that shows women in new roles, given the increase in women coming online, their increased literacy rates, and the rise of their influence in family and society, given changing workforce dynamics and the rise of their spending power. We also believe that regional content will overtake English content in the next 2–3 years, as the use of regional language users has grown from from 42m to 234m in the past five years, and this growth is projected to continue at 18%, while English language users coming online are projected to grow at 3%, over the past 5 years. On the other hand, we think monetisation of this content will be a challenge amongst this demographic, given the low willingness to pay and low household buying power across rural India.
We think there be significant consolidation in the increasingly crowded OTT space, with a handful of players emerging as winners. However, we believe there is space for new content creators, and think building the supply chain/pipeline for talent amongst content producers, will be fundamental. There is an opportunity to move away from the traditional studio model of content production, to streamline a long and expensive process, that has not kept up with consumer consumption patterns, and to support new voices and talent in this quickly changing market.
From a storytelling perspective, we are excited by the opportunities for new influencers and the space to tell stories about a rapidly urbanising India: we would bet big on rise of reality TV. We think the demand for more relatable characters will continue to grow.
This article was published by Candace Jones & Natasha Malpani, who are both Stanford MBA Class of 2018 students. Over the past ten weeks, they have conducted interviews with several digital platforms in the country, undertaken secondary research and surveyed over 200 consumers of Indian digital content in order to explore the opportunities and challenges presented by this complex market. This project was supervised by Stanford’s ex-Dean.
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The Next Frontier in Digital Entertainment: Conquering India (Part 2) was originally published in The Startup on Medium, where people are continuing the conversation by highlighting and responding to this story.
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The Next Frontier in Digital Entertainment: Conquering India  [#permalink]

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New post 03 Jun 2018, 23:01
FROM Bschooladmit20: The Next Frontier in Digital Entertainment: Conquering India
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The scale and depth of opportunities presented by the quickly evolving digital entertainment industry in India is astounding. India is an ideal market for new digital entrants.
With a population of 1.3 billion and purchasing power of $9.7 trillion, it is unsurprising that both domestic and foreign players are actively working to enter this market. Media giants such as Netflix, Amazon, and Hotstar are investing significant resources to develop strategies for capturing the Indian market. However, none of the current players have managed to gain a significant foothold as yet.We’ve spoken to a range of startups and media giants in the country over the past ten weeks + conducted surveys + in-depth secondary research, in order to better understand the content war brewing in the country.
This is what we found:
The Market Opportunity
Traditional market factors make digital in India an attractive opportunity. To begin with, the country’s media and entertainment industry continues to grow and is expected to reach $34.8 billion by 2021.
Internet adoption
Contributing to the growing opportunity for digital players is India’s rising internet adoption. In recent years, internet use has grown to an estimated 38%. While this percentage seems low compared to countries like the United States, which boast a 76% penetration rate, when you account for India’s large population, this still represents nearly 500 million consumers. Additionally, converting the remaining 62% is a large opportunity and makes the market very attractive. Fortunately, digital hopefuls do not have to wait long to receive the benefits of this growth, as penetration is expected to reach the 60% mark by 2020, assuming current trends persist.
While there is a large population living with low disposable income, the country’s striking income inequality creates large — in total numbers — middle and upper classes. These classes have been the largest drivers of internet adoption in the country to date. While controversial, this fragmented internet adoption creates opportunities for digital players who now understand that part of their strategy to win this key market is developing solutions accessible to India’s poorer and rural populations.
Mobile phone adoption
Moreover, increased use of smartphones and cellular data creates new access points for the internet, especially for poor and rural citizens for whom internet adoption is low. The entry of mobile network Reliance Jio by giant Reliance Industries jumpstarted growth in India’s internet use. Since launching in September 2016, the company has “acquired over 100 million users — many connecting to the mobile internet for the first time in their lives.”
The introduction of Jio has increased not only the total number of users now accessing online content on their mobile devices, but also the amount of consumption happening on those devices, as data pricing is now a much lower barrier for price-sensitive consumers.
The Evolving Digital Viewer
India’s first digital consumers were male millennials who lived in urban areas. However, as internet and mobile penetration increase in the country, the profile of the average digital viewer is shifting dramatically.
Between 2016 and 2017, the largest growths in digital usage occurred among three segments: women, older millennials, and rural populations.Women
Women, particularly those in smaller cities, are gaining online access at a fast rate. According to Hotstar’s The India Watch Report 2018, women in cities with populations between 1L and 10L increased online usage growth by a magnitude of three between 2016 and 2017, compared to two times growth for women in metro areas and cities with at least one million inhabitants. This trend is attributed to the increased availability of affordable smartphone options, which allows both women and those in rural areas to access online content on their mobile devices for the first time. This increase in women internet users is also important because women wield a great deal of purchasing power, controlling 44% of household spending.
Millennials
India’s millennial population features strong purchasing power, increased internet access, and sheer volume at over 400 million people. The Indian population is relatively young when compared to other major markets such as China and United States. In fact, according to Morgan Stanley, India is on-pace to be the youngest country in the world by 2020.
In addition, they are more educated and globally connected than previous generations, expecting content and information to come to them, rather than needing to actively seek it out as older generations did via print and television channels. With these factors at play, it is unsurprising that millennials, and to a lesser extent Generation Zers, are a driving force in India’s increased digital consumption. With mobile and digital adoption (generally) inversely correlated with age, it is therefore unsurprising that consumer brands are targeting India’s millenial and Gen Z populations as key demographics to capture.
Rural India
While people in major metro areas saw a 3.5 times increase in consumption, it was in smaller cities where the jump was most pronounced — a whopping 4.3 times the rate of 2016. Debunking popular thought that metropolitan areas are so-called “cities that never sleep” and therefore have higher consumption than smaller areas, our research has proven that overall consumption as well as binge watching are highest in smaller areas, where their populations stay awake much later than those in large urban areas.
Changing Consumption Patterns
India’s population is increasingly gravitating towards digital media over legacy options in print, TV, and film. According to eMarketer, “digital will take up nearly a third of daily media time in India”. This year, the average adult will spend an estimated 1 hour 18 minutes per day with digital media.
Control, convenience and quality
The first India Watch Report 2018 has highlighted some interesting shifts in consumer habits. The new generation of consumers prioritizes control and convenience. Online video consumption has grown by 5x in the past year, and web series are gaining traction as viewership numbers for some of these series begin to exceed the most watched online TV shows in India for the first time.
Interestingly, the report also notes that over 96% of Hostar’s watchtime came from videos that were over 20 minutes long: which leads us to believe that consumers are willing to invest time in high quality content. In terms of genres, sports and Bollywood films continue to drive the highest engagement, with comedy and drama series coming second.
Regional Content
A second key shift is the growth of the popularity of regional content. India has over 125 million English speakers. Online, English is still India’s dominant language. Elite/affluent viewers (see appendix for a definition of this demographic) primarily consume content in English: this demographic is projected to increase from 8% to 16% by 2025. However, 70% of these users also view content in other languages.
Importantly, a recent study by KPMG India Google found that nearly 70% of Indians consider local language digital content more reliable than English content. The regional language OTT market is growing at 60–65% every month, while regional content comprises nearly 45% of India’s overall online video content consumption.
Image
Additionally, by 2021, an expected 201 million Hindi users — 38% of the Indian internet user base — will be online, according to the same study.Given the rate at which its demand is growing, regional content is expected to comprise 20–25% of the overall digital consumption in 2018.
The shift to creating regional content has just begun, and will be a key driver of growth in of content consumption in Indian markets going forward.Personalised content
Another shift in consumption patterns, highlighted through our interviews and consumer survey, was the move from family viewing to individual content consumption. We think this shift is worth noting, as the move from a family-based to private setting creates the opportunity to create more personalized, contemporary content for various demographics.
The Current Landscape
Domestic Players
Like many other countries, India’s digital scene has been targeted by both local and foreign players. Additionally, it includes both legacy players adjusting their business lines to include digital offerings as well as new entrants focusing on digital-first and often digital-only strategies. With over 100 million subscribers, India’s streaming market is estimated at $280 million. As of 2017, the top five over-the-top (OTT) providers were Hotstar, Voot, Amazon Prime Video, SonyLiv, and Netflix.
OTT providers
Hotstar (an entertainment platform launched by Star India, one of India’s largest media conglomerates, wholly owned by 21st Century Fox) is far and away the leading provider. Hotstar has 75 million users compared to the next in the list, Voot, which only has 15 million users (though its parent company, Viacom18, claims this figure is closer to 22 million users). As Jonnalagadda notes, “Hotstar, for instance, has the digital rights to HBO shows in the country, and streams Game of Thrones episodes the same day they air in the U.S. That’s obviously a huge pull, as is the fact that Hotstar has exclusive rights to stream cricket and football games in the country.”
Legacy studios
India is the largest producer of films in the world in terms of quantity: the industry generated $1.9 billion in 2016. Several of the country’s largest studios, such as Dharma Productions and Red Chillies Entertainment, have signed content deals with Amazon and Netflix: as the war for high quality content and recognizable stars heats up in the country. However, these studios are yet to enter the online series content creation market.
The one contender that stands out in this space is AltBalaji, a subscription-based video streaming platform which launched in 2017, and is a subsidiary of Balaji Telefilms Limited, one of the largest content production houses in India. AltBalaji, with India’s leading television content creator, could be another significant player in the domestic content creation market, given their focus on creating original and tailor-made shows.
Digital media startups
The other categories of players worth mentioning in the domestic digital content space are a) startups focused on creating short-form/snackable content and b) online web series targeted towards millennials and mainly distributed through social media such as The Viral Fever, FilterCopy and All India Bakchod. These players typically have been operating for 3–4 years, raised a Series A round, and employ a data-driven approach to content creation. In addition, there is c) user-generated short-form content distributed primarily through Youtube produced in Hindi or other regional languages, and targeted at Tier 2 and Tier 3 city consumers.
Both these players are notably different from the legacy production houses for their digital-first and targeted approach to content creation, and culture.
International Players
The top international (based outside of India) players are Netflix and Amazon. Both players have announced that India is one of their priority markets globally, and are investing millions of dollars into developing original local content. Amazon is producing 20 original series, while Netflix is aiming for 7 this year. Both companies have are also investing aggressively in growing their libraries of licensed Indian content: Amazon has secured the TV rights to Bollywood star Salman Khan’s movies, while Netflix has won global streaming rights for movies produced by Shah Rukh Khan.
In 2015, Netflix announced its plan to aggressively pursue its international expansion plans, with India among its targeted markets. Aside from offering more Indian content, its rollout and offering in India is remarkably similar to that of other markets, having roughly the same price of 500 rupees, which is very close to the $7.99 charged in the US and other markets until recently (prices began rolling out to $9.99 starting October 2015). However, it might be the company’s one-size-fits all approach that ultimately leads to its undoing as a viable contender in this increasingly competitive space.
Since launching in India, Netflix has not changed its pricing, even as competing offerings entered at lower price points. Additionally, Netflix’s India office is primarily focused on sales & marketing. Their licensing and original content teams sit in Los Angeles: this lack of local engagement could hamper their understanding of India’s complex market. As of this writing, it is industry consensus that Netflix is losing the race in India with only five million monthly users due its high price point and dwindling content library. It will be interesting to see how the company responds to its competitive advantage and market share.
Another major factor in Netflix’s decline in India is the entry of Amazon. Amazon is thought to have invested upwards of $2 billion in its India entry since 2016, offering pricing discounts and other incentives to attract users. In addition to being considerably cheaper than Netflix at 999 rupees for an annual subscription (roughly the equivalent of two months with Netflix), Amazon benefits from providing the video service as part of its larger e-commerce bundle. Additionally, this price point is a small fraction of its US equivalent, which would be over to 6400 rupees instead.
Amazon has astutely recognized the need to price this market differently from its other locations, slashing its price to compete with lower cost options such as Hotstar and no-cost options such as Voot and pirated content. This strategy has proven successful, with Amazon attracting an impressive 11 monthly subscribers users as of this writing, over double that of Netflix.
Overall through, both platforms have low subscriber figures: Amazon had a little more than 600,000 Prime Video users at the end of 2017 while Netflix had 520,000 subscribers. We believe the real threat to Amazon and Netflix in India is Reliance Industries’ Jio.
Jio’s parent company has already acquired a 24.9% stake in AltBalaji and a 5% stake in Eros International in 2018, and is currently in conversations with several production houses. The corporate giant is looking to build a foothold in India’s $20bn media & entertainment sector, through original content licensing and regional programming deals, having already reached 130m subscribers through its wireless network.
Our Take: Opportunities and Gaps
The significant diversity in consumption patterns, based on age, gender, geography and socio-economic status in India also builds the case for the creation of more niche, personalised and highly relatable content.We believe that the ‘one size fits all’ model of Bollywood will not work in the digital entertainment space, as consumers begin to prioritize control and convenience. There is still ample room for new players and approaches, even as the competition for Indian eyeballs heats up.
Digital content will need to be increasingly tailored by age, gender and region, as the profile of users coming online changes. We are particularly excited by the opportunity to create more women-focused content that shows women in new roles given their increased (i) numbers online, (ii) literacy rates, (iii) influence in family and society, and (iv) rise of their spending power.
We also believe that regional content will overtake English content in the next 2–3 years, as the use of regional language users has grown from 42m to 234m in the past five years, and this growth is projected to continue at 18%, while English language users coming online are projected to grow at 3%, over the next 5 years.
On the other hand, we think monetisation of this content will be a challenge amongst this demographic, given the low willingness to pay and low household buying power across rural India.
We think there be significant consolidation in the increasingly crowded OTT space, with a handful of players emerging as winners. However, we believe there is space for new content creators, and think building the supply chain/pipeline for talent amongst content producers, will be fundamental.There is an opportunity to move away from the traditional studio model of content production, to streamline a long and expensive process, that has not kept up with consumption patterns, and to support new voices and talent in this quickly changing market.
From a storytelling perspective, we are excited by the opportunities for new influencers and the space to tell stories about a rapidly urbanising India: we would bet big on rise of reality TV. We think the demand for more relatable characters will continue to grow.
This article was published by Candace Jones (@candacej) & Natasha Malpani, who are both Stanford MBA Class of 2018 students. Over the past ten weeks, they have conducted interviews with several digital platforms in the country, undertaken secondary research and surveyed over 200 consumers of Indian digital content in order to explore the opportunities and challenges presented by this complex market. This project was supervised by Stanford’s ex-Dean. Our full report is available by request.
Image
The Next Frontier in Digital Entertainment: Conquering India was originally published in The Startup on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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avatar
Joined: 27 Sep 2015
Posts: 115
Schools: Stanford '14
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The Next Frontier in Digital Entertainment: Conquering India  [#permalink]

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New post 04 Jun 2018, 03:01
FROM Bschooladmit20: The Next Frontier in Digital Entertainment: Conquering India
Image
The scale and depth of opportunities presented by the quickly evolving digital entertainment industry in India is astounding. India is an ideal market for new digital entrants.
With a population of 1.3 billion and purchasing power of $9.7 trillion, it is unsurprising that both domestic and foreign players are actively working to enter this market. Media giants such as Netflix, Amazon, and Hotstar are investing significant resources to develop strategies for capturing the Indian market. However, none of the current players have managed to gain a significant foothold as yet.We’ve spoken to a range of startups and media giants in the country over the past ten weeks + conducted surveys + in-depth secondary research, in order to better understand the content war brewing in the country.
This is what we found:
The Market Opportunity
Traditional market factors make digital in India an attractive opportunity. To begin with, the country’s media and entertainment industry continues to grow and is expected to reach $34.8 billion by 2021.
Internet adoption
Contributing to the growing opportunity for digital players is India’s rising internet adoption. In recent years, internet use has grown to an estimated 38%. While this percentage seems low compared to countries like the United States, which boast a 76% penetration rate, when you account for India’s large population, this still represents nearly 500 million consumers. Additionally, converting the remaining 62% is a large opportunity and makes the market very attractive. Fortunately, digital hopefuls do not have to wait long to receive the benefits of this growth, as penetration is expected to reach the 60% mark by 2020, assuming current trends persist.
While there is a large population living with low disposable income, the country’s striking income inequality creates large — in total numbers — middle and upper classes. These classes have been the largest drivers of internet adoption in the country to date. While controversial, this fragmented internet adoption creates opportunities for digital players who now understand that part of their strategy to win this key market is developing solutions accessible to India’s poorer and rural populations.
Mobile phone adoption
Moreover, increased use of smartphones and cellular data creates new access points for the internet, especially for poor and rural citizens for whom internet adoption is low. The entry of mobile network Reliance Jio by giant Reliance Industries jumpstarted growth in India’s internet use. Since launching in September 2016, the company has “acquired over 100 million users — many connecting to the mobile internet for the first time in their lives.”
The introduction of Jio has increased not only the total number of users now accessing online content on their mobile devices, but also the amount of consumption happening on those devices, as data pricing is now a much lower barrier for price-sensitive consumers.
The Evolving Digital Viewer
India’s first digital consumers were male millennials who lived in urban areas. However, as internet and mobile penetration increase in the country, the profile of the average digital viewer is shifting dramatically.
Between 2016 and 2017, the largest growths in digital usage occurred among three segments: women, older millennials, and rural populations.Women
Women, particularly those in smaller cities, are gaining online access at a fast rate. According to Hotstar’s The India Watch Report 2018, women in cities with populations between 1L and 10L increased online usage growth by a magnitude of three between 2016 and 2017, compared to two times growth for women in metro areas and cities with at least one million inhabitants. This trend is attributed to the increased availability of affordable smartphone options, which allows both women and those in rural areas to access online content on their mobile devices for the first time. This increase in women internet users is also important because women wield a great deal of purchasing power, controlling 44% of household spending.
Millennials
India’s millennial population features strong purchasing power, increased internet access, and sheer volume at over 400 million people. The Indian population is relatively young when compared to other major markets such as China and United States. In fact, according to Morgan Stanley, India is on-pace to be the youngest country in the world by 2020.
In addition, they are more educated and globally connected than previous generations, expecting content and information to come to them, rather than needing to actively seek it out as older generations did via print and television channels. With these factors at play, it is unsurprising that millennials, and to a lesser extent Generation Zers, are a driving force in India’s increased digital consumption. With mobile and digital adoption (generally) inversely correlated with age, it is therefore unsurprising that consumer brands are targeting India’s millenial and Gen Z populations as key demographics to capture.
Rural India
While people in major metro areas saw a 3.5 times increase in consumption, it was in smaller cities where the jump was most pronounced — a whopping 4.3 times the rate of 2016. Debunking popular thought that metropolitan areas are so-called “cities that never sleep” and therefore have higher consumption than smaller areas, our research has proven that overall consumption as well as binge watching are highest in smaller areas, where their populations stay awake much later than those in large urban areas.
Changing Consumption Patterns
India’s population is increasingly gravitating towards digital media over legacy options in print, TV, and film. According to eMarketer, “digital will take up nearly a third of daily media time in India”. This year, the average adult will spend an estimated 1 hour 18 minutes per day with digital media.
Control, convenience and quality
The first India Watch Report 2018 has highlighted some interesting shifts in consumer habits. The new generation of consumers prioritizes control and convenience. Online video consumption has grown by 5x in the past year, and web series are gaining traction as viewership numbers for some of these series begin to exceed the most watched online TV shows in India for the first time.
Interestingly, the report also notes that over 96% of Hostar’s watchtime came from videos that were over 20 minutes long: which leads us to believe that consumers are willing to invest time in high quality content. In terms of genres, sports and Bollywood films continue to drive the highest engagement, with comedy and drama series coming second.
Regional Content
A second key shift is the growth of the popularity of regional content. India has over 125 million English speakers. Online, English is still India’s dominant language. Elite/affluent viewers (see appendix for a definition of this demographic) primarily consume content in English: this demographic is projected to increase from 8% to 16% by 2025. However, 70% of these users also view content in other languages.
Importantly, a recent study by KPMG India Google found that nearly 70% of Indians consider local language digital content more reliable than English content. The regional language OTT market is growing at 60–65% every month, while regional content comprises nearly 45% of India’s overall online video content consumption.
Image
Additionally, by 2021, an expected 201 million Hindi users — 38% of the Indian internet user base — will be online, according to the same study.Given the rate at which its demand is growing, regional content is expected to comprise 20–25% of the overall digital consumption in 2018.
The shift to creating regional content has just begun, and will be a key driver of growth in of content consumption in Indian markets going forward.Personalised content
Another shift in consumption patterns, highlighted through our interviews and consumer survey, was the move from family viewing to individual content consumption. We think this shift is worth noting, as the move from a family-based to private setting creates the opportunity to create more personalized, contemporary content for various demographics.
The Current Landscape
Domestic Players
Like many other countries, India’s digital scene has been targeted by both local and foreign players. Additionally, it includes both legacy players adjusting their business lines to include digital offerings as well as new entrants focusing on digital-first and often digital-only strategies. With over 100 million subscribers, India’s streaming market is estimated at $280 million. As of 2017, the top five over-the-top (OTT) providers were Hotstar, Voot, Amazon Prime Video, SonyLiv, and Netflix.
OTT providers
Hotstar (an entertainment platform launched by Star India, one of India’s largest media conglomerates, wholly owned by 21st Century Fox) is far and away the leading provider. Hotstar has 75 million users compared to the next in the list, Voot, which only has 15 million users (though its parent company, Viacom18, claims this figure is closer to 22 million users). As Jonnalagadda notes, “Hotstar, for instance, has the digital rights to HBO shows in the country, and streams Game of Thrones episodes the same day they air in the U.S. That’s obviously a huge pull, as is the fact that Hotstar has exclusive rights to stream cricket and football games in the country.”
Legacy studios
India is the largest producer of films in the world in terms of quantity: the industry generated $1.9 billion in 2016. Several of the country’s largest studios, such as Dharma Productions and Red Chillies Entertainment, have signed content deals with Amazon and Netflix: as the war for high quality content and recognizable stars heats up in the country. However, these studios are yet to enter the online series content creation market.
The one contender that stands out in this space is AltBalaji, a subscription-based video streaming platform which launched in 2017, and is a subsidiary of Balaji Telefilms Limited, one of the largest content production houses in India. AltBalaji, with India’s leading television content creator, could be another significant player in the domestic content creation market, given their focus on creating original and tailor-made shows.
Digital media startups
The other categories of players worth mentioning in the domestic digital content space are a) startups focused on creating short-form/snackable content and b) online web series targeted towards millennials and mainly distributed through social media such as The Viral Fever, FilterCopy and All India Bakchod. These players typically have been operating for 3–4 years, raised a Series A round, and employ a data-driven approach to content creation. In addition, there is c) user-generated short-form content distributed primarily through Youtube produced in Hindi or other regional languages, and targeted at Tier 2 and Tier 3 city consumers.
Both these players are notably different from the legacy production houses for their digital-first and targeted approach to content creation, and culture.
International Players
The top international (based outside of India) players are Netflix and Amazon. Both players have announced that India is one of their priority markets globally, and are investing millions of dollars into developing original local content. Amazon is producing 20 original series, while Netflix is aiming for 7 this year. Both companies have are also investing aggressively in growing their libraries of licensed Indian content: Amazon has secured the TV rights to Bollywood star Salman Khan’s movies, while Netflix has won global streaming rights for movies produced by Shah Rukh Khan.
In 2015, Netflix announced its plan to aggressively pursue its international expansion plans, with India among its targeted markets. Aside from offering more Indian content, its rollout and offering in India is remarkably similar to that of other markets, having roughly the same price of 500 rupees, which is very close to the $7.99 charged in the US and other markets until recently (prices began rolling out to $9.99 starting October 2015). However, it might be the company’s one-size-fits all approach that ultimately leads to its undoing as a viable contender in this increasingly competitive space.
Since launching in India, Netflix has not changed its pricing, even as competing offerings entered at lower price points. Additionally, Netflix’s India office is primarily focused on sales & marketing. Their licensing and original content teams sit in Los Angeles: this lack of local engagement could hamper their understanding of India’s complex market. As of this writing, it is industry consensus that Netflix is losing the race in India with only five million monthly users due its high price point and dwindling content library. It will be interesting to see how the company responds to its competitive advantage and market share.
Another major factor in Netflix’s decline in India is the entry of Amazon. Amazon is thought to have invested upwards of $2 billion in its India entry since 2016, offering pricing discounts and other incentives to attract users. In addition to being considerably cheaper than Netflix at 999 rupees for an annual subscription (roughly the equivalent of two months with Netflix), Amazon benefits from providing the video service as part of its larger e-commerce bundle. Additionally, this price point is a small fraction of its US equivalent, which would be over to 6400 rupees instead.
Amazon has astutely recognized the need to price this market differently from its other locations, slashing its price to compete with lower cost options such as Hotstar and no-cost options such as Voot and pirated content. This strategy has proven successful, with Amazon attracting an impressive 11 monthly subscribers users as of this writing, over double that of Netflix.
Overall through, both platforms have low subscriber figures: Amazon had a little more than 600,000 Prime Video users at the end of 2017 while Netflix had 520,000 subscribers. We believe the real threat to Amazon and Netflix in India is Reliance Industries’ Jio.
Jio’s parent company has already acquired a 24.9% stake in AltBalaji and a 5% stake in Eros International in 2018, and is currently in conversations with several production houses. The corporate giant is looking to build a foothold in India’s $20bn media & entertainment sector, through original content licensing and regional programming deals, having already reached 130m subscribers through its wireless network.
Our Take: Opportunities and Gaps
The significant diversity in consumption patterns, based on age, gender, geography and socio-economic status in India also builds the case for the creation of more niche, personalised and highly relatable content.We believe that the ‘one size fits all’ model of Bollywood will not work in the digital entertainment space, as consumers begin to prioritize control and convenience. There is still ample room for new players and approaches, even as the competition for Indian eyeballs heats up.
Digital content will need to be increasingly tailored by age, gender and region, as the profile of users coming online changes. We are particularly excited by the opportunity to create more women-focused content that shows women in new roles given their increased (i) numbers online, (ii) literacy rates, (iii) influence in family and society, and (iv) rise of their spending power.
We also believe that regional content will overtake English content in the next 2–3 years, as the use of regional language users has grown from 42m to 234m in the past five years, and this growth is projected to continue at 18%, while English language users coming online are projected to grow at 3%, over the next 5 years.
On the other hand, we think monetisation of this content will be a challenge amongst this demographic, given the low willingness to pay and low household buying power across rural India.
We think there be significant consolidation in the increasingly crowded OTT space, with a handful of players emerging as winners. However, we believe there is space for new content creators, and think building the supply chain/pipeline for talent amongst content producers, will be fundamental.There is an opportunity to move away from the traditional studio model of content production, to streamline a long and expensive process, that has not kept up with consumption patterns, and to support new voices and talent in this quickly changing market.
From a storytelling perspective, we are excited by the opportunities for new influencers and the space to tell stories about a rapidly urbanising India: we would bet big on rise of reality TV. We think the demand for more relatable characters will continue to grow.
This article was published by Candace Jones (@candacej) & Natasha Malpani, who are both Stanford MBA Class of 2018 students. Over the past ten weeks, they have conducted interviews with several digital platforms in the country, undertaken secondary research and surveyed over 200 consumers of Indian digital content in order to explore the opportunities and challenges presented by this complex market. This project was supervised by Stanford’s ex-Dean. Our full report is available by request.
Image
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
Manager
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Joined: 27 Sep 2015
Posts: 115
Schools: Stanford '14
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The Next Frontier in Digital Entertainment: Conquering India  [#permalink]

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New post 04 Jun 2018, 05:01
FROM Bschooladmit20: The Next Frontier in Digital Entertainment: Conquering India
Image
The scale and depth of opportunities presented by the quickly evolving digital entertainment industry in India is astounding. India is an ideal market for new digital entrants.
With a population of 1.3 billion and purchasing power of $9.7 trillion, it is unsurprising that both domestic and foreign players are actively working to enter this market. Media giants such as Netflix, Amazon, and Hotstar are investing significant resources to develop strategies for capturing the Indian market. However, none of the current players have managed to gain a significant foothold as yet.We’ve spoken to a range of startups and media giants in the country over the past ten weeks + conducted surveys + in-depth secondary research, in order to better understand the content war brewing in the country.
This is what we found:
The Market Opportunity
Traditional market factors make digital in India an attractive opportunity. To begin with, the country’s media and entertainment industry continues to grow and is expected to reach $34.8 billion by 2021.
Internet adoption
Contributing to the growing opportunity for digital players is India’s rising internet adoption. In recent years, internet use has grown to an estimated 38%. While this percentage seems low compared to countries like the United States, which boast a 76% penetration rate, when accounting for India’s large population, this still represents nearly 500 million consumers. Additionally, converting the remaining 62% is a large opportunity and makes the market very attractive. Fortunately, digital hopefuls do not have to wait long to receive the benefits of this growth, as penetration is expected to reach the 60% mark by 2020 assuming current trends persist.
While there is a large population living with low disposable income, the country’s striking income inequality creates large — in total numbers — middle and upper classes. These classes have been the largest drivers of internet adoption in the country to date. While controversial, this fragmented internet adoption creates opportunities for digital players who now understand that part of their strategy to win this key market is developing solutions accessible to India’s poorer and rural populations.
Mobile phone adoption
Moreover, increased use of smartphones and cellular data creates new access points for the internet, especially for poor and rural citizens for whom internet adoption is low. The entry of mobile network Reliance Jio by giant Reliance Industries jumpstarted growth in India’s internet use. Since launching in September 2016, the company has “acquired over 100 million users — many connecting to the mobile internet for the first time in their lives.”
The introduction of Jio has increased not only the total number of users now accessing online content on their mobile devices, but also the amount of consumption happening on those devices, as the data pricing is now a much lower barrier for price-sensitive consumers.
The Evolving Digital Viewer
India’s first digital consumers were male millennials who lived in urban areas. However, as internet and mobile penetration increase in the country, the profile of the average digital viewer is shifting dramatically.
Between 2016 and 2017, the largest growths in digital usage occurred among three segments: women, older millennials, and rural populations.Women
Women, particularly those in smaller cities, are gaining online access at a fast rate. According to Hotstar’s The India Watch Report 2018, women in cities with populations between 1L and 10L increased online usage growth by a magnitude of three between 2016 and 2017 compared to two times growth for women in metro areas and cities with at least one million inhabitants. This trend is attributed to the increased availability of affordable smartphone options, which allows both women and those in rural areas to access online content on their mobile devices for the first time. This increase in women internet users is also important because women wield a great deal of purchasing power, controlling 44% of household spending.
Millennials
India’s millennial population features strong purchasing power, increased internet access, and sheer volume at over 400 million people. The Indian population is relatively young when compared to other major markets such as China and United States. In fact, according to Morgan Stanley, India is on-pace to be the youngest country in the world by 2020. In addition, they are more educated and globally connected than previous generations, expecting content and information to come to them rather than needing to actively seek it out as older generations did via print and television channels. With these factors at play, it is unsurprising that millennials, and to a lesser extent Generation Zers, are a driving force in India’s increased digital consumption. With mobile and digital adoption (generally) inversely correlated with age, it is therefore unsurprising that consumer brands are targeting India’s millenial and Gen Z populations as key demographics to capture.
Rural India
While people in major metro areas saw a 3.5 times increase in consumption, it was in smaller cities where the jump was most pronounced — a whopping 4.3 times the rate of 2016. Debunking popular thought that metropolitan areas are so-called “cities that never sleep” and therefore have higher consumption than smaller areas, our research has proven that overall consumption as well as binge watching are highest in smaller areas, where their populations stay awake much later than those in large urban areas.
Changing Consumption Patterns
India’s population is increasingly gravitating towards digital media over legacy options in print, TV, and film. According to eMarketer, “digital will take up nearly a third of daily media time in India”. This year, the average adult will spend an estimated 1 hour 18 minutes per day with digital media.
Control, convenience and quality
The first India Watch Report 2018 has highlighted some interesting shifts in consumer habits. The new generation of consumers prioritizes control and convenience. Online video consumption has grown by 5x in the past year, and web series are gaining traction as viewership numbers for some of these series begin to exceed the most watched online TV shows in India for the first time.
Interestingly, the report also notes that over 96% of Hostar’s watchtime came from videos that were over 20 minutes long: which leads us to believe that consumers are willing to invest time in high quality content. In terms of genres, sports and Bollywood films continue to drive the highest engagement, with comedy and drama series coming second.
Regional Content
A second key shift is the growth of the popularity of regional content. India has over 125 million English speakers: online, English is still India’s dominant language. Elite/affluent viewers (see appendix for a definition of this demographic) primarily consume content in English: this demographic is projected to increase from 8% to 16% by 2025. However, 70% of these users also view content in other languages.
Importantly, a recent study by KPMG India Google found that nearly 70% of Indians consider local language digital content more reliable than English content. The regional language OTT market is growing at 60–65% every month, while regional content comprises nearly 45% of India’s overall online video content consumption.
Additionally, by 2021, an expected 201 million Hindi users — 38% of the Indian internet user base — will be online, according to the same study.Given the rate at which its demand is growing, regional content is expected to comprise 20–25% of the overall digital consumption in 2018.
The shift to creating regional content has just begun, and will be a key driver of growth in of content consumption in Indian markets going forward.Personalised content
Another shift in consumption patterns, highlighted through our interviews and consumer survey, was the move from family viewing to individual content consumption. We think this shift is worth noting, as the move from a family-based to private setting creates the opportunity to create more personalized, contemporary content for various demographics.
The Current Landscape
Domestic Players
Like many other countries, India’s digital scene has been targeted by both local and foreign players. Additionally, it includes both legacy players adjusting their business lines to include digital offerings as well as new entrants focusing on digital-first and often digital-only strategies. With over 100 million subscribers, India’s streaming market is estimated at $280 million. As of 2017, the top five over-the-top (OTT) providers were Hotstar, Voot, Amazon Prime Video, SonyLiv, and Netflix.
Hotstar (an entertainment platform launched by Star India, one of India’s largest media conglomerates, wholly owned by 21st Century Fox) is far and away the leading provider. Hotstar has 75 million users compared to the next in the list, Voot, which only has 15 million users (though its parent company, Viacom18, claims this figure is closer to 22 million users). As Jonnalagadda notes, “Hotstar, for instance, has the digital rights to HBO shows in the country, and streams Game of Thrones episodes the same day they air in the U.S. That’s obviously a huge pull, as is the fact that Hotstar has exclusive rights to stream cricket and football games in the country.”
India is the largest producer of films in the world in terms of quantity: the industry generated $1.9 billion in 2016. Several of the country’s largest studios, such as Dharma Productions and Red Chillies Entertainment, have signed content deals with Amazon and Netflix: as the war for high quality content and recognizable stars heats up in the country.
However, these studios are yet to enter the online series content creation market. AltBalaji, a subscription-based video streaming platform launched in 2017, that is a subsidiary of Balaji Telefilms Limited, one of the largest content production houses, and India’s leading television content creator, could be another significant player in the domestic content creation market, given their focus on creating original and tailor-made shows.
AltBalaji, a subscription-based video streaming platform, launched in 2017 and is a subsidiary of Balaji Telefilms Limited, one of the largest content production houses in India. AltBalaji, with India’s leading television content creator, could be another significant player in the domestic content creation market, given their focus on creating original and tailor-made shows.
The other categories of players worth mentioning in the domestic digital content space are a) startups focused on creating short-form/snackable content and b) online web series targeted towards millennials and mainly distributed through social media such as The Viral Fever, FilterCopy and All India Bakchod. These players typically have been operating for 3–4 years, raised a Series A round, and employ a data-driven approach to content creation. In addition, there is c) user-generated short-form content distributed primarily through Youtube produced in Hindi or other regional languages, and targeted at Tier 2 and Tier 3 city consumers.
Both these players are notably different from the legacy production houses for their digital-first and targeted approach to content creation, and culture.
International Players
The top international (based outside of India) players are Netflix and Amazon. Both players have announced that India is one of their priority markets globally, and are investing millions of dollars into developing original local content. Amazon is producing 20 original series, while Netflix is aiming for 7 this year. Both companies have are also investing aggressively in growing their libraries of licensed Indian content: Amazon has secured the TV rights to Bollywood star Salman Khan’s movies, while Netflix has won global streaming rights for movies produced by Shah Rukh Khan.
In 2015, Netflix announced its plan to aggressively pursue its international expansion plans, with India among its targeted markets. Aside from offering more Indian content, its rollout and offering in India is remarkably similar to that of other markets, having roughly the same price of 500 rupees, which is very close to the $7.99 charged in the US and other markets until recently (prices began rolling out to $9.99 starting October 2015). However, it might be the company’s one-size-fits all approach that ultimately leads to its undoing as a viable contender in this increasingly competitive space.
Since launching in India, Netflix has not changed its pricing, even as competing offerings entered at lower price points. Additionally, Netflix’s India office is primarily focused on sales & marketing. Their licensing and original content teams sit in Los Angeles: this lack of local engagement could hamper their understanding of India’s complex market. As of this writing, it is industry consensus that Netflix is losing the race in India with only five million monthly users due its high price point and dwindling content library. It will be interesting to see how the company responds to its competitive advantage and market share.
Another major factor in Netflix’s decline in India is the entry of Amazon. Amazon is thought to have invested upwards of $2 billion in its India entry since 2016, offering pricing discounts and other incentives to attract users. In addition to being considerably cheaper than Netflix at 999 rupees for an annual subscription (roughly the equivalent of two months with Netflix), Amazon benefits from providing the video service as part of its larger e-commerce bundle. Additionally, this price point is a small fraction of its US equivalent, which would be over to 6400 rupees instead.
Amazon has astutely recognized the need to price this market differently from its other locations, slashing its price to compete with lower cost options such as Hotstar and no-cost options such as Voot and pirated content. This strategy has proven successful, with Amazon attracting an impressive 11 monthly subscribers users as of this writing, over double that of Netflix.
Overall through, both platforms have low subscriber figures: Amazon had a little more than 600,000 Prime Video users at the end of 2017 while Netflix had 520,000 subscribers. We believe the real threat to Amazon and Netflix in India is Reliance Industries’ Jio.
Jio’s parent company has already acquired a 24.9% stake in AltBalaji and a 5% stake in Eros International in 2018, and is currently in conversations with several production houses. The corporate giant is looking to build a foothold in India’s $20bn media & entertainment sector, through original content licensing and regional programming deals, having already reached 130m subscribers through its wireless network.
Our Take: Opportunities and Gaps
The significant diversity in consumption patterns, based on age, gender, geography and socio-economic status in India also builds the case for the creation of more niche, personalised and highly relatable content.We believe that the ‘one size fits all’ model of Bollywood will not work in the digital entertainment space, as consumers begin to prioritize control and convenience. There is still ample room for new players and approaches, even as the competition for Indian eyeballs heats up.
We believe that digital content will need to be increasingly tailored by age, gender and region, as the profile of users coming online changes. We are particularly excited by the opportunity to create more women-focused content that shows women in new roles given their increased (i) numbers online, (ii) literacy rates, (iii) influence in family and society, and (iv) rise of their spending power.
We also believe that regional content will overtake English content in the next 2–3 years, as the use of regional language users has grown from 42m to 234m in the past five years, and this growth is projected to continue at 18%, while English language users coming online are projected to grow at 3%, over the next 5 years.
On the other hand, we think monetisation of this content will be a challenge amongst this demographic, given the low willingness to pay and low household buying power across rural India.
We think there be significant consolidation in the increasingly crowded OTT space, with a handful of players emerging as winners. However, we believe there is space for new content creators, and think building the supply chain/pipeline for talent amongst content producers, will be fundamental.There is an opportunity to move away from the traditional studio model of content production, to streamline a long and expensive process, that has not kept up with consumption patterns, and to support new voices and talent in this quickly changing market.
From a storytelling perspective, we are excited by the opportunities for new influencers and the space to tell stories about a rapidly urbanising India: we would bet big on rise of reality TV. We think the demand for more relatable characters will continue to grow.
This article was published by Candace Jones (@candacej) & Natasha Malpani, who are both Stanford MBA Class of 2018 students. Over the past ten weeks, they have conducted interviews with several digital platforms in the country, undertaken secondary research and surveyed over 200 consumers of Indian digital content in order to explore the opportunities and challenges presented by this complex market. This project was supervised by Stanford’s ex-Dean.
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The Next Frontier in Digital Entertainment: Conquering India was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
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The War for Attention: Conquering India  [#permalink]

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New post 06 Jun 2018, 16:02
FROM Bschooladmit20: The War for Attention: Conquering India
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The scale and depth of opportunities presented by the quickly evolving digital entertainment industry in India is astounding. India is an ideal market for new digital entrants.
With a population of 1.3 billion and purchasing power of $9.7 trillion, it is unsurprising that both domestic and foreign players are actively working to enter this market. Media giants such as Netflix, Amazon, and Hotstar are investing significant resources to capture the Indian market. However, none of the current players have managed to gain a significant foothold as yet.We’ve spoken to a range of startups and media giants in the country over the past ten weeks + conducted surveys + in-depth secondary research, in order to better understand the content war brewing in the country.
This is what we found:
The Market Opportunity
Traditional market factors make digital in India an attractive opportunity. To begin with, the country’s media and entertainment industry continues to grow and is expected to reach $34.8 billion by 2021.
Internet adoption
Contributing to the growing opportunity for digital players is India’s rising internet adoption. In recent years, internet use has grown to an estimated 38%. While this percentage seems low compared to countries like the United States, which boast a 76% penetration rate, when accounting for India’s large population, this still represents nearly 500 million consumers. Additionally, converting the remaining 62% is a large opportunity and makes the market very attractive. Fortunately, digital hopefuls do not have to wait long to receive the benefits of this growth, as penetration is expected to reach the 60% mark by 2020 assuming current trends persist.
While there is a large population living with low disposable income, the country’s striking income inequality creates large — in total numbers — middle and upper classes. These classes have been the largest drivers of internet adoption in the country to date. While controversial, this fragmented internet adoption creates opportunities for digital players who now understand that part of their strategy to win this key market is developing solutions accessible to India’s poorer and rural populations.
Mobile phone adoption
Moreover, increased use of smartphones and cellular data creates new access points for the internet, especially for poor and rural citizens for whom internet adoption is low. The entry of mobile network Reliance Jio by giant Reliance Industries jumpstarted growth in India’s internet use. Since launching in September 2016, the company has “acquired over 100 million users — many connecting to the mobile internet for the first time in their lives.”
The introduction of Jio has increased not only the total number of users now accessing online content on their mobile devices, but also the amount of consumption happening on those devices, as the data pricing is now a much lower barrier for price-sensitive consumers.
The Evolving Digital Viewer
India’s first digital consumers were male millennials who lived in urban areas. However, as internet and mobile penetration increase in the country, the profile of the average digital viewer is shifting dramatically.
Between 2016 and 2017, the largest growths in digital usage occurred among three segments: women, older millennials, and rural populations.Women
Women, particularly those in smaller cities, are gaining online access at a fast rate. According to Hotstar’s The India Watch Report 2018, women in cities with populations between 1L and 10L increased online usage growth by a magnitude of three between 2016 and 2017 compared to two times growth for women in metro areas and cities with at least one million inhabitants. This trend is attributed to the increased availability of affordable smartphone options, which allows both women and those in rural areas to access online content on their mobile devices for the first time. This increase in women internet users is also important because women wield a great deal of purchasing power, controlling 44% of household spending.
Millennials
India’s millennial population features strong purchasing power, increased internet access, and sheer volume at over 400 million people. The Indian population is relatively young when compared to other major markets such as China and United States. In fact, according to Morgan Stanley, India is on-pace to be the youngest country in the world by 2020. In addition, they are more educated and globally connected than previous generations, expecting content and information to come to them rather than needing to actively seek it out as older generations did via print and television channels. With these factors at play, it is unsurprising that millennials, and to a lesser extent Generation Zers, are a driving force in India’s increased digital consumption. With mobile and digital adoption (generally) inversely correlated with age, it is therefore unsurprising that consumer brands are targeting India’s millenial and Gen Z populations as key demographics to capture.
Rural India
While people in major metro areas saw a 3.5 times increase in consumption, it was in smaller cities where the jump was most pronounced — a whopping 4.3 times the rate of 2016. Debunking popular thought that metropolitan areas are so-called “cities that never sleep” and therefore have higher consumption than smaller areas, our research has proven that overall consumption as well as binge watching are highest in smaller areas, where their populations stay awake much later than those in large urban areas.
Changing Consumption Patterns
India’s population is increasingly gravitating towards digital media over legacy options in print, TV, and film. According to eMarketer, “digital will take up nearly a third of daily media time in India”. This year, the average adult will spend an estimated 1 hour 18 minutes per day with digital media.
Control, convenience and quality
The first India Watch Report 2018 has highlighted some interesting shifts in consumer habits. The new generation of consumers prioritizes control and convenience. Online video consumption has grown by 5x in the past year, and web series are gaining traction as viewership numbers for some of these series begin to exceed the most watched online TV shows in India for the first time.
Interestingly, the report also notes that over 96% of Hostar’s watchtime came from videos that were over 20 minutes long: which leads us to believe that consumers are willing to invest time in high quality content. In terms of genres, sports and Bollywood films continue to drive the highest engagement, with comedy and drama series coming second.
Regional Content
A second key shift is the growth of the popularity of regional content. India has over 125 million English speakers: online, English is still India’s dominant language. Elite/affluent viewers (see appendix for a definition of this demographic) primarily consume content in English: this demographic is projected to increase from 8% to 16% by 2025. However, 70% of these users also view content in other languages.
Importantly, a recent study by KPMG India Google found that nearly 70% of Indians consider local language digital content more reliable than English content. The regional language OTT market is growing at 60–65% every month, while regional content comprises nearly 45% of India’s overall online video content consumption.
Image
Additionally, by 2021, an expected 201 million Hindi users — 38% of the Indian internet user base — will be online, according to the same study.Given the rate at which its demand is growing, regional content is expected to comprise 20–25% of the overall digital consumption in 2018.
The shift to creating regional content has just begun, and will be a key driver of growth in of content consumption in Indian markets going forward.Personalised content
Another shift in consumption patterns, highlighted through our interviews and consumer survey, was the move from family viewing to individual content consumption. We think this shift is worth noting, as the move from a family-based to private setting creates the opportunity to create more personalized, contemporary content for various demographics.
The Current Landscape
Domestic Players
Like many other countries, India’s digital scene has been targeted by both local and foreign players. Additionally, it includes both legacy players adjusting their business lines to include digital offerings as well as new entrants focusing on digital-first and often digital-only strategies. With over 100 million subscribers, India’s streaming market is estimated at $280 million. As of 2017, the top five over-the-top (OTT) providers were Hotstar, Voot, Amazon Prime Video, SonyLiv, and Netflix.
OTT Players
Hotstar (an entertainment platform launched by Star India, one of India’s largest media conglomerates, wholly owned by 21st Century Fox) is far and away the leading provider. Hotstar has 75 million users compared to the next in the list, Voot, which only has 15 million users (though its parent company, Viacom18, claims this figure is closer to 22 million users). As Jonnalagadda notes, “Hotstar, for instance, has the digital rights to HBO shows in the country, and streams Game of Thrones episodes the same day they air in the U.S. That’s obviously a huge pull, as is the fact that Hotstar has exclusive rights to stream cricket and football games in the country.”
Legacy studios
India is the largest producer of films in the world in terms of quantity: the industry generated $1.9 billion in 2016. Several of the country’s largest studios, such as Dharma Productions and Red Chillies Entertainment, have signed content deals with Amazon and Netflix: as the war for high quality content and recognizable stars heats up in the country.
However, these studios are yet to enter the online series content creation market. The one standout player in this space is AltBalaji, a subscription-based video streaming platform launched in 2017. The company is a subsidiary of Balaji Telefilms Limited, one of the largest content production houses, and India’s leading television content creator. This platform could be another significant player in the domestic content creation market, given their focus on creating original and tailor-made shows.
Media startups
The other categories of players worth mentioning in the domestic digital content space are a) startups focused on creating short-form/snackable content and b) online web series targeted towards millennials and mainly distributed through social media such as The Viral Fever, FilterCopy and All India Bakchod. These players typically have been operating for 3–4 years, raised a Series A round, and employ a data-driven approach to content creation. In addition, there is c) user-generated short-form content distributed primarily through Youtube produced in Hindi or other regional languages, and targeted at Tier 2 and Tier 3 city consumers.
Both these players are notably different from the legacy production houses for their digital-first and targeted approach to content creation, and culture.
International Players
The top international (based outside of India) players are Netflix and Amazon. Both players have announced that India is one of their priority markets globally, and are investing millions of dollars into developing original local content. Amazon is producing 20 original series, while Netflix is aiming for 7 this year. Both companies have are also investing aggressively in growing their libraries of licensed Indian content: Amazon has secured the TV rights to Bollywood star Salman Khan’s movies, while Netflix has won global streaming rights for movies produced by Shah Rukh Khan.
In 2015, Netflix announced its plan to aggressively pursue its international expansion plans, with India among its targeted markets. Aside from offering more Indian content, its rollout and offering in India is remarkably similar to that of other markets, having roughly the same price of 500 rupees, which is very close to the $7.99 charged in the US and other markets until recently (prices began rolling out to $9.99 starting October 2015). However, it might be the company’s one-size-fits all approach that ultimately leads to its undoing as a viable contender in this increasingly competitive space.
Since launching in India, Netflix has not changed its pricing, even as competing offerings entered at lower price points. Additionally, Netflix’s India office is primarily focused on sales & marketing. Their licensing and original content teams sit in Los Angeles: this lack of local engagement could hamper their understanding of India’s complex market. As of this writing, it is industry consensus that Netflix is losing the race in India with only five million monthly users due its high price point and dwindling content library. It will be interesting to see how the company responds to its competitive advantage and market share.
Another major factor in Netflix’s decline in India is the entry of Amazon. Amazon is thought to have invested upwards of $2 billion in its India entry since 2016, offering pricing discounts and other incentives to attract users. In addition to being considerably cheaper than Netflix at 999 rupees for an annual subscription (roughly the equivalent of two months with Netflix), Amazon benefits from providing the video service as part of its larger e-commerce bundle. Additionally, this price point is a small fraction of its US equivalent, which would be over to 6400 rupees instead.
Amazon has astutely recognized the need to price this market differently from its other locations, slashing its price to compete with lower cost options such as Hotstar and no-cost options such as Voot and pirated content. This strategy has proven successful, with Amazon attracting an impressive 11 monthly subscribers users as of this writing, over double that of Netflix.
Overall through, both platforms have low subscriber figures: Amazon had a little more than 600,000 Prime Video users at the end of 2017 while Netflix had 520,000 subscribers. We believe the real threat to Amazon and Netflix in India is Reliance Industries’ Jio.
Jio’s parent company has already acquired a 24.9% stake in AltBalaji and a 5% stake in Eros International in 2018, and is currently in conversations with several production houses. The corporate giant is looking to build a foothold in India’s $20bn media & entertainment sector, through original content licensing and regional programming deals, having already reached 130m subscribers through its wireless network.
Our Take: Opportunities and Gaps
The significant diversity in consumption patterns, based on age, gender, geography and socio-economic status in India also builds the case for the creation of more niche, personalised and highly relatable content.We believe that the ‘one size fits all’ model of Bollywood will not work in the digital entertainment space, as consumers begin to prioritize control and convenience. There is still ample room for new players and approaches, even as the competition for Indian eyeballs heats up.
Digital content will need to be increasingly tailored by age, gender and region, as the profile of users coming online changes. We are particularly excited by the opportunity to create more women-focused content that shows women in new roles given their increased (i) numbers online, (ii) literacy rates, (iii) influence in family and society, and (iv) rise of their spending power.
We also believe that regional content will overtake English content in the next 2–3 years, as the use of regional language users has grown from 42m to 234m in the past five years, and this growth is projected to continue at 18%, while English language users coming online are projected to grow at 3%, over the next 5 years.
On the other hand, we think monetisation of this content will be a challenge amongst this demographic, given the low willingness to pay and low household buying power across rural India.
We think there be significant consolidation in the increasingly crowded OTT space, with a handful of players emerging as winners. However, we believe there is space for new content creators, and think building the supply chain/pipeline for talent amongst content producers, will be fundamental.There is an opportunity to move away from the traditional studio model of content production, to streamline a long and expensive process, that has not kept up with consumption patterns, and to support new voices and talent in this quickly changing market.
From a storytelling perspective, we are excited by the opportunities for new influencers and the space to tell stories about a rapidly urbanising India: we would bet big on rise of reality TV. We think the demand for more relatable characters will continue to grow.
This article was published by Candace Jones (@candacej) & Natasha Malpani, who are both Stanford MBA Class of 2018 students. Over the past ten weeks, they have conducted interviews with several digital platforms in the country, undertaken secondary research and surveyed over 200 consumers of Indian digital content in order to explore the opportunities and challenges presented by this complex market. This project was supervised by Stanford’s ex-Dean.
Image
The War for Attention: Conquering India was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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Bleeding Colour  [#permalink]

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New post 30 Jun 2018, 18:02
FROM Bschooladmit20: Bleeding Colour
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You worry about
Preserving your sense of self
When the women around you
Are so defined by their relationships
To men
You are more than a wife, daughter, mother
At first they was asked you when
you would marry
Now they want to know when you
Will give them a child to play with
A rented womb
Someone once told me
They were happy they didn’t
Let their daughter work abroad
Because it would have been
Hard for her to integrate back into society
After developing a sense of self
She took pride in clipping her wings
Before she could learn to fly
Another woman told me
That she was glad her son
Was smart enough to marry a woman
Of her choosing
That would never challenge him
But would take pleasure in
Caring for and supporting him
She took pride in preserving her sons ego
Instead of his mind
You worry about bleeding color slowly
Always being expected to put
Everyone else’s needs before your own
Sacrifice is not always the highest value
I won’t let you define me.
Image
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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Haha- can you teach me how to?  [#permalink]

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New post 01 Jul 2018, 13:02
FROM Bschooladmit20: Haha- can you teach me how to?
Haha- can you teach me how to?
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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors
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Joined: 02 May 2009
Posts: 108
Location: United States
Concentration: General Management, Technology
GMAT 1: 730 Q49 V42
GMAT 2: 710 Q49 V37
WE: Programming (Computer Software)
Sapiens: A brief history of Humankind  [#permalink]

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New post 04 Jul 2018, 05:01
FROM The Oxford Comma: Sapiens: A brief history of Humankind
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As the subtitle indicates, Sapiens by Yuval Harari aims to give a brief overview of homo sapiens. He does this by highlighting the following key moments in our history.

Cognitive Revolution – 300,000 years ago many species of humans wandered the world. Why did only one emerge? Yuval believes that this was the result of the brain’s evolution around 70,000 years ago that resulted in our unique languages which allows for the creation and shared belief of myths. For e.g. our languages permit us to imagine gods and concepts such as nationalism, capitalism, consumerism etc. This allows for co-operation between groups that were much larger in size that other animals.

Furthermore, while all other animals adapt to change by evolving, which is an extremely slow process limited by their biology. Thanks to shared myths, sapiens can evolve by simply changing their myths. This allowed them to become masters of the planet.

Agricultural Revolution – The cultivation of crops resulted in a population explosion. Though humans were not necessarily better off individually, they were able to grow in numbers. The invention of math and writing was the result of attempts to solve the problem of accounting that rose due to the agricultural revolution.

The Unification of Humankind – For much of history, humans lived in small tribes and groups. Today we live in massive nation states. The following developments unified humans by enabling greater co-operation between them.

  • Money – Allowed strangers to co-operate and exchange goods and services
  • Empires – Assimilated smaller cultures into larger ones
  • Religion – Though we think of religion as a divider today, it was one of the biggest unifiers in history
The Scientific Revolution – For much of human history, the average productivity remained the same. Around 500 years ago, it started to explode. The reasons were as follows

  • The Discovery of Ignorance –  The scientific revolution kicked off when humans began to admit that they did not understand things around them. Empires played a part as they raced to find new lands and discover technologies that would enable supremacy in the battlefield.
  • Finance – Financial systems such as banks, stocks, bonds enabled the expansion in resources that fuelled scientific discoveries.
  • Industrial Revolution – The discovery of the steam engine enabled the conversion of energy from one type to another (steam -> movement).
This book won critical acclaim upon release and deservedly so. Highly recommended.
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My Oxford MBA 2013-2014 blog - http://oxonian2013mba.wordpress.com/

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Rotman Term 2 - Academics  [#permalink]

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New post 14 Jul 2018, 06:02
FROM Sheiquiroga: Rotman Term 2 - Academics
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Term 2 is what I would call the: "Winter Blues + Fear of Internship + What is Happening in Operations Class = Everyone's Depressed  Term"

Okay, if you are not yet getting interviews in January, please do not panic. Yes, you probably have very tiny chance of getting into the "big" consulting firms. However, it's not the end of the world. There are still a lot of opportunities that will come. For now, continue doing coffee chats and networking! Do not lose hope. It's okay to take a break from writing cover letters, but please do not entirely give up.

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Statistics Management
Professor Chay Ornthanalai
Business Statistics by Sharpe, De Veaux, and Velleman

In this course, we covered basic statistics lessons and focused on doing different kinds of regressions. The discussions covered statistical inference, correlation, dummy variables, time series data, discrete dependent variables, etc. 
I found that the book was not that helpful for me and started searching online for clarity instead. However, my friends and I actually like the PowerPoint slides that the professors uploaded because of the detailed explanations and step-by-step approach. 

Deliverables: 
> 3 Individual Assignments - These actually helped us become up to speed since they forced us to comprehend the lessons each time. These assignments were not as hard as the ones given in the Foundations Term, but some questions might be tricky though. 

> Project Topic Preference - The professor gave us a list of topics with some information and they asked us to rank the topics according to our group's preference. Most of them were either about marketing analytics or financial modelling cases. 

> Group Project Written Report and Presentation - The professor asked us to examine the data given and apply most of our learnings. My groupmate generated several regressions to analyze the problem. If your group feels stuck, the professors welcome students to visit them for guidance, which our group found very helpful. Next, we just had to present the findings in front of the class and our classmates had the chance to ask questions about the analysis. 

> Final Exam - Is it true that you need to have Windows for this class? Yes. This class is the sole reason why Rotman was asking us to buy a good Windows laptop. They want you to install StatTools that only runs on Windows. It was a good software, but you might want to consider just installing Parallel Desktop or Bootcamp on your Macbook instead of buying it. The final exam was actually kind of a disaster in my case because even if I borrowed a new Dell XPS, I still encountered problems and my computer just decided to lag on that day. They had to transfer me to the Finance Lab to finish my work. They will only give you additional 15 minutes (for the transition period from your original classroom to the Finance Lab) even if you wasted one hour waiting for your professor to solve your problem. Thus, my advice going forward is that once you encounter a problem, save it in your USB, and ask the proctor to bring you straight to the Finance Lab immediately, so you will not have to waste time stressing out. I also have to mention that the exam is open book, but there's not much value added to it. The reason is that you have to be extremely fast in using Excel (so work on your Excel skills) and be fast in being organized and copy pasting (I'm not kidding. You can verify it with my batch). Thus, you have to really know how to do things by heart. The professor will grade you according to your analysis and interpretation of data. 

Scholar Sessions 

I only went to one or two scholar sessions because I heard that the person teaching it was really amazing. However, I think I learned my lesson that I am better off studying by myself to manage my limited time well. It was vital for me to review the slides before I do the individual assignments and I reviewed them again and again as the course progressed. That helped me understand the whole concept much more easier.

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Operations Management
Professor Gerhard Trippen
Matching Supply and Demand by Cachon and Terwiesch

Almost everyone was so confused in this class. Although I admit that I was one of those people, I was actually really interested in this course. I never had an actual operations course in my undergrad, so I was so excited to learn about this that I even registered for the KPMG Lean Six Sigma Training. I will discuss more about this in another article. 
The book was helpful to some extent in my case especially at the very beginning of the course. In the end, I depended much more on the slides and all the practice problems given to study for this.

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The professor we had was really nice and enthusiastic about the course. He covered the following topics and much more: 
Little’s Law
Capacity Analysis
Periodic Supply and Demand Mismatch
Operational Friction
Measuring Variability
The Queueing Formula
Safety capacity
Sequential servers
Supply chains
Economies of scale
I normally do not participate in class that much, but I was really interested in this course and studied the cases well in advance. Professor Trippen always put in extra effort to make the class interesting through various exercises that you can see in the photo on the right side. There was even one time that they had to wear garbage bags! LOL. 

Deliverables: 
> 4 case analysis
Do not take these cases for granted. They will be a great basis for your scores because the final exam will be so hard. Thus, you have to ensure that you get the highest score possible in these cases. However, note that they all took so much work and time to crack the case. We covered the following cases which are all pretty interesting:
  • JetBlue case analysis 
  • Kristen’s Cookies case analysis 
  • Athletic Knit case analysis
  • Instacart case analysis
> Class Participation
Read the cases beforehand and the professor will give you (at least) one session, in which people could just start blurting out case facts. It was really easy to do this, so do not miss your chance since there will be less opportunities for class participations afterwards. In addition, the contents are much easier in the first part of the course. 

> Final Exam
All second year students warned us how brutal operations exam was during their time. They said that this exam was far worse than the Finance I exam, which, you know, was also brutal. If you do not know one question, you would normally skip to the next question to save time, right? But with this exam, they just continued skipping and skipping until the last question. So yeah, that's how crazy the exam was.
But thankfully, I feel that our batch got a more decent set of questions and they were not as hard as how they were described by the upper years. My advice is to always listen during the class, but start doing the practice questions if you do not have enough time, rather than spending longer time mastering the theories. You will learn much more on how to crack questions. 

Scholar Sessions 
I attended the scholar session once, but they were mainly covering the practice questions when I went there. I was not able to drastically improve my operations skills in that session, but it was a great nudge that I should start cracking those practice questions since they were a bit complicated and connected to each other. 

Athletic Knit Factory Tour

What particularly was interesting in this course is that when the professor offered Section 5 to go visit the factory of Athletic Knit. (Yes, it was only offered to section 5. Don't ask me why. Maybe ask our academic director, Artem, who was doing a great job for his position.) The CEO of Athletic Knit himself gave us a tour around the facility and he was so generous in sharing his knowledge about operations to us!

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Leading People in Organization
Professor John Oesch
No book required. Readings were all uploaded by professor.

I found that this course was also pretty interesting and I think that it helped me become better in analyzing the work environment and people, and in having a good perspective on how to be in a leadership role, particularly of a CEO position. Some people did not actually like this course, but I think that you should try to spend more time in reading the cases for you to actually enjoy it. I figured that when I skipped reading one case before class, it was really not that much enjoyable unlike the times that I did spend energy understanding the case facts. 

Deliverables:
> Class Contribution 
It is important to really speak up in this class and share valuable contributions. The professor will give some discussion questions before you tackle the case. Please do read them as they will be great guidance in reading the case. Most of the questions in class will be coming from the case facts too, so be sure to highlight the important details! 

> Social Style Analysis
The professor will ask you to ask your groupmates in the previous term to answer multiple questions about you as a leader and as a teammate. Then, this website will help generate results and categorize you into either a Driver, Amiable, Expressive or Analytical. Beware to not immediately categorize your peers as one of them because the result is not 100% accurate and is only reflective of your performance in those group projects (or it might also be the case that the people who answered were too lazy to take all the questions seriously). Afterwards, we then had to discuss our result with our team and create action plans going forward. 

> Change Management Analysis
In this deliverable, we had to use a simulation software/website of trying to convince people in an organization to push for an initiative. (Our group was really bad at this software, so I won't share anything further. Just ask the other second years about this. LOL.) Then, we had to share our results to the class. 

>Final Paper
During class discussions, do not forget to take down notes! The final paper will require you to analyze your previous boss and also include your learning from the class at the same time. Be sure to spend more time analyzing your boss himself and not telling too much story about yourself. Nonetheless, do not use this paper to rant about how awful your previous boss was! Also, do not leave writing this paper last minute! Start planning out how you are going to do it in the middle of the course. 

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We covered interesting work-related topics, such as becoming the boss and understanding the boss, the Work Group Model, leading diverse talent, building effective teams, the leadership triangle model, and social styles and versatility. We discussed several cases and I found the "Erik Peterson at Biometra" case pretty interesting. Do not open this link until you finish discussing this case: https://www.linkedin.com/in/erik-peterson-33b384115/. This link was pretty funny! I also heard from my friend in Harvard that they discussed this case too! Other cases included "Leslie Brinkman at Versutia Capital", "Taran Swan at Nickelodeon Latin America", and much more! I really hope that you will take them seriously!

The professor also asked us to do more kinds of activities, such as the Lego Person and the Subarctic Survival. However, I will not discuss them, so you will still get some element of surprise. I guarantee you that they will be interesting! 

Scholar Sessions 

Not much scholar sessions for this course. If you really do not have enough time, I think it's okay to skip these sessions and just read from the slides.

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Update: I'm doing my internship right now, but I still plan to upload my articles for my extra-curricular activities for both Term 1 and 2. Stay tuned!

Love,

Wondersuite
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What I Actually Learned at Stanford  [#permalink]

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New post 14 Jul 2018, 08:02
FROM Bschooladmit20: What I Actually Learned at Stanford
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Most people will tell you that the real value of business school is not derived from the classroom: it’s all about the people. I heard this over and over again through the application process. But I didn’t understand what this really meant.
When I was accepted into Stanford’s MBA program, I was grateful. I knew that my classmates would be phenomenal, and I was eager to meet these 400 rockstars. I hoped to learn from them, their backgrounds, their cultures.
I had no idea what was actually in store for me.
They say business school is ‘transformational’. I was skeptical of this at first: but I have to admit, I am a different person at the end of an incredible two years. I’m more practical, and less idealistic. I’m more productive and adventurous. I’m more willing to try new things and fail. Perhaps most importantly, I have a much deeper understanding of my self and my strengths and weaknesses. And I can see that my class- on average- as a whole is more well-rounded, able to read people and build relationships better.
I’m not sure if we’re better ‘leaders’ or ready to ‘change the world’, but we are definitely more equipped to manage ourselves and our own lives.What happened to us?
We changed. The exposure to a mind-boggling variety of companies at different stages, industries and business models, through case studies, guest speakers, events, conferences, internships, my own classmates and independent studies definitely played a role. I have a sharpened appreciation for the importance of networks, communication skills and branding. But I also have to attribute this to the community we built.
The real magic of business school comes from being in an environment where an incredibly diverse group dedicates all of their time and energy- personally, professionally and socially- to building a community that will last a lifetime.We were forced to start from scratch, and build a new group of relationships, just as we’d grown comfortable in our old lives: with our careers, our partners, our friends, our cities. We moved from all over the world, and lived in dorm rooms with people we’d never met before, and adjusted to being students again. We were given a blank sheet of paper in our mid to late twenties- a rare gift- and we were told we could rethink the choices we’d made. Moreover, we were given the resources to do it- through world-class coaching, facilitated peer groups and classes. This forced some deep self-inspection and reflection: when you’re allowed to second guess yourself, you do.
We also had to adjust to an exceedingly social environment, where every person seemed like they were living their best life, all the time, at the start. I saw the power of herd behaviour, the power of exclusivity and status. And then of course: there was all the travel, dinners, parties. Pure, unaltered fun, at a scale that I perhaps won’t ever get to repeat again, as often. But over time I also deeply and truly got to know people from all over the world: what drives them, what’s shaped them and what their darkest secrets are. And we learned to both fit in and stand out: to choose who we wanted to be friends with, what groups we wanted to be associated with, what mattered to us, and how we wanted to be known and remembered.
And I think that this is the secret: the MBA gives you the chance to develop a deeper understanding of yourself, and the people around you. You’re given the opportunity to see and test multiple ways of living. You ask for and give help. And when you figure out what’s right for you, you’re more able to manage yourself. You can’t manage other people if you can’t handle yourself.
I know this is only the beginning of a long journey- both in terms of developing self-awareness and control- and in terms of getting to know my classmates. I’m so grateful to have had the chance to have spent two years dedicating myself to it.
Congratulations to the class of 2018.
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What I Actually Learned at Stanford &nbs [#permalink] 14 Jul 2018, 08:02

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