2022 will be an inflection point for digital artwork & NFTs: Anshul Ailawadi

With the year drawing to a close, it is time to recap the major developments across the industry. As in the previous years, Adgully reviews the year 2021 for M&E, Advertising, Digital, Marketing, PR & Communications along with leading names in the industry as part of the REWIND 2021 series.

In conversation with Adgully, Anshul Ailawadi, Business Head – Youth, Music and English Entertainment, Viacom18, speaks about how the consumption pattern of the viewers changed due to pandemic, how the storytelling will change in 2022, the growth of NFTs and much more.

Performance & key developments in M&E

When we look back at 2021, we see the year setting the tone for a variety of experimentation, innovations, and ‘departure from the norm’. Brands and content creators were forced to question what had hitherto been accepted as the gospel truth. 2021 was when telecast schedules went for a toss for marquee sports tournaments, across the world, formats had to be looked at differently since physical auditions and live audiences became risky.

Instead of theatrical releases, several movies went directly to OTT platforms as traditional windowing rules were deserted, and consumer habits changed during the lockdown as it became difficult to schedule regular prime-time programs and OTT content consumption went through the roof. All of this has actually given industry professionals lots to learn from.

Almost every M&E player has been compelled to find and fortify their economic moat. This introspection will only grow deeper and stronger in 2022.

Projections & expectations for 2022

Brands that are unable to keep their connect with consumers will find it difficult to sustain. Interestingly, most advertisers we have spoken to, irrespective of the medium they have advertised on, have looked for some sort of quantifiable impact on their business, especially through digital channels. In a manner of speaking, the feedback loop has moved from ‘ratings and reach’ to ‘searches and transactions’. So much so, that at times one can also see a clear divergence between the two which is hard to explain. Over time, this trend will only gather more steam.

On the content side, transmedia storytelling or offering a ‘story experience’ across multiple touchpoints will continue to grow as audiences get fragmented across different platforms. IP owners would do well to tap into the fandom of their properties as a whole, by focussing on multiple platforms – TV, OTT (paid and ad-supported), live (if possible) social video, and so on.

As media assets, in general, become critical drivers of other ‘core businesses’ (e-commerce, telecom, fantasy sports, etc.), emphasis on owning 100% IP and extending it to as many audiences as possible will increase substantially. As debatable as it may be, I also believe that digital artwork will grow in the form of NFTs, and 2022 will be an inflection point for the same.

All-in-all, 2022 will be a year of reboot for the Indian M&E industry. It will see several upsets, pivots, and launches – as the old makes way for the new.