Future Group - Synergy In Businesses

Biyani Sets Foot In Outdoor Media Biz

Venturing into the outdoor media business, Kishore Biyani’s Future group, with retail brands such as Pantaloon, Big Bazaar, Food Bazaar and Fashion Station, has set up an out-of-home media division called Future Media India Ltd to tap the Rs 900-crore market. The idea is to use the company’s retail spaces as a media platform. “We are present in 32 cities, where we have over 140 stores. The number of stores will double in 2007 and will attract over 200 million customers. Future Media’s unique selling proposition is that it will provide a communication platform to reach out to these 200 million customers just before they decide to purchase goods at our stores,” said Kishore Biyani, CEO, Future Group.

Future Media plans to offer a range of media solutions to advertisers at the points of purchase at its malls and other multiple format stores. It will use digital signages, large format television sets, and the audio media to advertise brands. “It’s far more focussed than any other media platform and is completely measurable with respect to actual sales,” he said. Future Media CEO Partho Dasgupta said using retail media spaces effectively was critical as India’s growing consumer class spent a large chunk of its leisure at malls and retail stores. The media solutions would be aimed at branded products and services ranging from telecom and insurance to automobiles and the FMCG sector.

Other than using its malls and retail chains, the company will bid for outdoor media space at amusement parks, Delhi Metro etc. The company’s business model is fashioned after Focus Media, China’s largest out-of-home media company. But does Future Media plan to tie up with an international outdoor brand or rope in an investor? “It is a high return opportunity. A lot of people have shown interest in investing in this venture. We are exploring various options,” said Biyani.