What does it take to succeed in the creative economy? Intuitive knowledge of viewers’ tastes and an ability to pick ideas that resonate, says Ekta Kapoor
Name: Ekta Kapoor
Profile: Joint managing director and creative mentor of Balaji Telefilms
She Says: You need to evolve and re-evolve to align yourself with changing tastes. Great content is all about great basic thoughts! Things you and I can see all around, but no one has been able to pick up and use as a concept.
A few years ago, I received an unusual invitation from the British Council and the Indian Institute of Management, Bangalore, to speak to a group of young people undergoing a weeklong management programme to become entrepreneurs for a “creative economy”. Chosen on the basis of a national-level competition, they were to be taken to the UK with the idea that if they were to start their businesses, they should register their companies in the UK, or raise investment there.
That is when I started tracking the creative economy which is expected to remain recession-proof and low on carbon footprint. Think of it this way: What natural resources do you need to set up a girl-band? If four girls got together and cut an album, it could be a billion dollar industry before anyone knew it, and countries like the UK are seriously pushing such entrepreneurs. In India, it is time we looked at this new sector consisting of television and video programming, software games, arts and crafts. So here I am, with the mercurial, star-kid turned serious creative economy entrepreneur, Ekta Kapoor, to learn a thing or two.
Do you see yourself as an entrepreneur? Give me your sense of the creative economy.
Yes, I am an entrepreneur but not in the conventional sense. I have learnt business as time passed, but I do not have a B-school education.
Speaking of the creative economy, it is a completely new field. Films have been there for the last 100 years but television, media, content for mobiles have just made everything so much larger. We now suddenly realise that this is an environment-friendly industry which requires very little capital; though it requires absolute skills. And when the medium gets aligned to the content, it creates a whole new breed of professionals.
I think the time has come for media schools to be considered mainstream and present a choice of professions. We are going to have various niche channels and we are going to have regional movies coming up. Be it music, films or new media, there is going to be need for fresh content. In it, the creative and the business side will get enough prominence.
I think we are seeing the creative economy as just the tip of an iceberg. It is going to fully reveal itself after 10 years. The mediums are actually developing and evolving. Once 3G or 4G comes in, people will want instant gratification as far as entertainment goes. So, there will be professionals catering to that need.
(This story appears in the 30 July, 2010 issue of Forbes India. To visit our Archives, click here.)