One word appears to be resonating at FICCI Frames this year - Spreadsheet Capitalism. G Krishnan, ED and CEO of the TV Today Networks let loose on financial and market analysts, blaming them for pushing media companies into taking a quarter on quarter approach to their business. "When in 2003, we got competition in the market - we were asked - how will you keep it going? Financial Analysts base their assessment only on numbers, and they don't do their homework. I was told - don't look at the bottom line, only look at the top line. We're in this era of spreadsheet capitalism. It tells you a story about the advertising base you'll generate, India's untapped subscription revenue potential...Do we really get into the details of it? Certainly not. Is DTH happening or not? There's no growth in advertising revenue, no growth in subscription revenue." "When we ask investors how they invest - they say they lok at a huge growth over 7 years. I say you should also look at the huge loss you would accumulate over those years. We are responsible to our investors as well. Last quarter, investors were happy that we kept cash. You have to use the cash, but you can't just not have a business model, and ensure that you don't make money. At the same time, if I were to do a business plan, would I be allowed to make a loss for 3 years. There is also a quarter on quarter…
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