 "Ronnie Screwvala, B Saikumar launch digital media company")
Former Disney India MD and founder of private investment firm Unilazer Ventures, Ronnie Screwvala has launched a new-age digital media company along with former Group CEO of Network18 B Saikumar.
Based out of Mumbai, the venture aims at launching a digital brand that will offer multi-genre, multi-lingual content across video, audio, text and other traditional and new age art forms in its first phase.
The investment envisaged is up to Rs 150 crore across two phases – the first phase would be largely domestic-focused, while the platform will evaluate new geographies and verticals in its second and subsequent phases.
Saikumar will be the Managing Director while his colleague Ajay Chacko, former COO Network18, will be the CEO of the venture.
Digital media across the world has surpassed traditional broadcast television, radio and print as the primary choice of consumers and marketers. With over 300 million internet users, and around 200 million of these using mobile, India is slated to become the world’s third largest digital media market. This is expected to get a further boost with the government’s 'Digital India' plan and the launch of pan-India broadband services by existing operators and well-capitalized new players.