India, every mention
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tap a year for its mentions
every year anyone David Rosenthal 184Ben Gilbert 41Howard Schultz 3Anu Hariharan 3Brendan Eich 2Brad Gerstner 1
Verbatim, from the transcripts: the passages where India comes up
Disney: The Renaissance and the Empire · Acquired
- ▶ 1:45:18 David Rosenthal Like China and India.
- ▶ 3:17:53 David Rosenthal Had a lot of India assets.
- ▶ 3:18:01 David Rosenthal We need to enter India.
Formula 1: Fast cars, celebrities, and B2B software (Audio) · Acquired
- ▶ 1:50:38 David Rosenthal And India to come in and displace some of those middle races and be new Grand Prix's.
- ▶ 1:50:48 David Rosenthal So India is forty million a year just in race fees to F one.
The NFL: How small-town teams became America's most valuable sports empire (Audio) · Acquired
- ▶ 3:46:49 David Rosenthal But if you look at IPL, this strategy was part of their plans from the very beginning, and it's how they made it a huge global sport and the biggest sport in India was make Bollywood an integral part of the product.
Google Part III: The AI Company. Google is amazingly well-positioned... will they win in AI? (Audio) · Acquired
- ▶ 28:50 Ben Gilbert Well, especially when you hire a thousand people in India to
Google Part II: Alphabet (Audio) · Acquired
- ▶ 3:16:19 David Rosenthal It was the biggest social network in Brazil, the biggest social network in India.
Indian Premier League Cricket (Audio) · Acquired
- ▶ 6:48 David Rosenthal No relation to Nahendra Modi, the Prime Minister of India, but he is from another famous Modi family.
- ▶ 6:57 David Rosenthal Lalit is the son of the renowned Indian industrialist KK Modi, who had built a fairly large conglomerate in India, you know, in the vein of Reliance or Tata or whatnot.
- ▶ 7:18 David Rosenthal Yeah, the industrial structure in India, at least to date, seems to be more like South Korea or Japan, the big conglomerates.
- ▶ 7:36 David Rosenthal One of India's leading tobacco and cigarette companies.
- ▶ 8:41 David Rosenthal There certainly hadn't been a sports media culture in India.
- ▶ 9:11 David Rosenthal So in kind of a genius fashion, while it uses the sales force that the Modi company has for their tobacco products, they have 80,000, a 100,000 sales reps that are going to convenience stores, corner stores, you know, in every part of the…
- ▶ 9:37 David Rosenthal So Lalit says, hey, we can leverage this sales force and use those people to go hook up with these early Wild West proto cable operators out there in these towns and villages in India and bring them Disney content.
- ▶ 10:11 David Rosenthal There is a national over-the-air broadcast network in India, a national network called DoorDarshan, but just like happened decades earlier in the US, little mom-and-pop cable operators are starting to pop up and saying, oh yeah, we'll run…
- ▶ 10:48 David Rosenthal He is the JV partner that Disney is entering India.
- ▶ 10:55 David Rosenthal Disney isn't the only major global media conglomerate that sees the potential of this newly television hooked up Indian consumer market.
- ▶ 11:35 David Rosenthal So News Corp had just launched a new brand and channel in India called Star.
- ▶ 11:40 David Rosenthal And Rupert's going around looking for how he's going to run this playbook in India.
- ▶ 11:47 David Rosenthal And pretty quickly he figures out that there's really only one sport that matters in India, and that's cricket.
- ▶ 12:48 David Rosenthal So, Rupert hoovers up these rights pretty cheaply, and all of a sudden, Star is now the place to watch cricket in India.
- ▶ 13:37 David Rosenthal Cricket Board in India that controls these broadcast rights.
- ▶ 14:07 Ben Gilbert It's not the government, but they're tasked with developing the sport of cricket and in particular cricket in India, ensuring that the sport has longevity and it has all the infrastructure that it needs.
- ▶ 14:21 Ben Gilbert Of making sure that Indian cricket has a long and successful future.
- ▶ 15:04 David Rosenthal It actually wasn't until right before all this goes down that India even realized they had the broadcast rights to cricket at all.
- ▶ 15:18 David Rosenthal In 1991, the South African national cricket team comes on a tour to India.
- ▶ 15:27 David Rosenthal They're playing in India, and the South African cricket board is like,
- ▶ 15:35 Ben Gilbert Cricket was newly, extremely popular in India.
- ▶ 15:39 Ben Gilbert It was 1983, eight years before where India had won the Cricket World Cup for the first time.
- ▶ 15:51 Ben Gilbert It's actually in India and Pakistan.
- ▶ 15:54 Ben Gilbert So the power of the cricket globally is starting to shift to India.
- ▶ 15:57 Ben Gilbert And so this is only four years after India hosted the World Cup for the first time, and cricket's kind of on the rise.
- ▶ 16:03 David Rosenthal And it's all tied up with the television penetration of India.
- ▶ 17:57 David Rosenthal There's one other really fun sort of history turns on a knife point element to cricket in India.
- ▶ 18:04 David Rosenthal So, like you said, Ben, cricket was the most popular sport in India before 1983, but that didn't mean that much.
- ▶ 18:18 Ben Gilbert The center of gravity was England, and so it wasn't India's thing.
- ▶ 19:32 David Rosenthal So all this launches ESPN in India, and there's back and forth for a couple years between Star and ESPN.
- ▶ 19:47 David Rosenthal Uh, antitrust, uh, regulation in India is not quite what it is in the U.S. at this point in time.
- ▶ 20:52 David Rosenthal I modernized cable in India.
- ▶ 20:55 David Rosenthal I brought sports to India.
- ▶ 22:23 David Rosenthal Yep, and this is probably the right moment to say a word about the nature of doing business in India, at least at this point in time.
- ▶ 22:49 David Rosenthal A lot of corruption, a lot of kickbacks, and particularly doing business in India as a foreign company at this point in time is at your own risk, shall we say.
- ▶ 23:24 David Rosenthal Like, no, this is India.
- ▶ 23:46 David Rosenthal And it's what Lalit thinks is like his birthright, like he brought to India was professionalizing and televising sports.
- ▶ 23:57 David Rosenthal Well, who controls cricket in India?
- ▶ 24:19 David Rosenthal So there's states within India.
- ▶ 24:21 David Rosenthal So in 1999, Lalit manages to join the board of one of the smaller Indian state cricket associations.
- ▶ 25:16 Ben Gilbert Other than the latest slate of Bollywood movies, this is what the Indian population cares about.
- ▶ 27:29 David Rosenthal So the presenting team sponsor is the Sahara group, which is another one of these big Indian family conglomerates.
- ▶ 27:53 David Rosenthal Mind you, when we've said that cricket is the biggest sport in India, nothing else matters, it borders on religion, it has 93% mind share of sports in India.
- ▶ 28:23 David Rosenthal Cricket in India is 93%.
- ▶ 34:20 David Rosenthal I mean, if you want to reach the nation of India, there are two ways to do it.
- ▶ 35:02 David Rosenthal We alluded to it before, but the rise of the Indian middle class is what's driving everything here.
- ▶ 35:09 David Rosenthal So one stat I saw was that in the early nineties, when we started our story a little bit ago, while it was first getting involved, Disney and star were entering the Indian market.
- ▶ 35:18 David Rosenthal There were only about two million households in India that had a disposable income of 10,000 dollars or greater.
- ▶ 35:32 David Rosenthal So there's call it 20, thirty million households now in India that are by that definition, at least middle class.
- ▶ 35:43 David Rosenthal It's another 10 X plus that number, you know, there's 400 close to five hundred million people, households in India.
- ▶ 35:54 Ben Gilbert It's five hundred and fifty million people who are a part of India's middle class.
- ▶ 36:23 Ben Gilbert That is an emergence of a middle class in unbelievably rapid succession there, and I think the thing to keep in mind about India is anytime you're saying a percent of the population.
- ▶ 36:40 Ben Gilbert The middle class in India today is 31% of the population, but 31% of India is more than all of America.
- ▶ 36:54 David Rosenthal The middle class in India, per this definition, but still, like, that is enough annual income that you can spend it on consumer goods.
- ▶ 37:27 Ben Gilbert In India.
- ▶ 39:09 David Rosenthal So then he sets up a personal meeting with Rupert Murdoch, who at this point in time, via star, has all the TV rights to Indian international cricket.
- ▶ 43:03 David Rosenthal There's no other sports channels in India.
- ▶ 43:07 David Rosenthal There's no other sports in India.
- ▶ 43:51 David Rosenthal We're now 15 years into the television penetration of India, shall we say.
- ▶ 44:19 David Rosenthal India.
- ▶ 44:20 David Rosenthal He goes to Sky from the UK and says, hey, you want to enter India?
- ▶ 44:23 David Rosenthal And he ultimately goes to an Indian entertainment company called Nimbus, which was a broadcaster, but also didn't have a sports channel.
- ▶ 44:56 David Rosenthal It, uh, I believe quickly becomes the number one sports channel in India.
- ▶ 45:00 David Rosenthal Like, if you got cricket, you're the number one sports channel in India, and Star and Rupert are out in the cold.
- ▶ 46:02 David Rosenthal For cricket in India, the BCCI, the government, all the players involved from nothing.
- ▶ 46:20 David Rosenthal He's taken over Indian cricket.
- ▶ 46:41 Ben Gilbert Well, on a sheer population basis, they just can't come anywhere near India.
- ▶ 48:20 David Rosenthal The Indian Premier League, a domestic, city-based cricket league in India that Lalit is gonna set up in the model of the very best elements of the NFL, of the English Premier League, of the NBA.
- ▶ 49:52 David Rosenthal So besides Lalit seeing that there's a inventory opportunity to expand cricket in India here beyond the 105 or so days of competition that the international team is playing,
- ▶ 53:56 David Rosenthal He's thinking about starting up a domestic league in India.
- ▶ 56:23 David Rosenthal He goes back to IMG, who remember he had initially partnered with, with Disney and ESPN way back in the day to start broadcasting cricket in India in the first place, and says, hey, I need to hire you as consultants from the BCCI.
- ▶ 56:39 David Rosenthal And Andrew Wildblood, who runs IMG's India Operations, becomes essentially Lalit's partner in setting up
- ▶ 57:09 David Rosenthal And then, in the spring of 2007, a rebel league starts up under their nose in India.
- ▶ 58:41 Ben Gilbert India increasingly cares more and more and more about cricket.
- ▶ 58:52 Ben Gilbert Finally, in 2004, he bid the highest for domestic cricket in India, but the BCCI still did not award the rights to him.
- ▶ 1:04:39 David Rosenthal It's also lucky for them that they do pull this forward in response to the competitive threat from the ICL, because there's another media marketing gift, which is that unexpectedly, India ends up winning the first T-Twenty World Cup that…
- ▶ 1:05:33 David Rosenthal So they've been doing the One Day International World Cup for years, all the way back to before, 1983 when India won it.
- ▶ 1:07:48 David Rosenthal So Lalit tells these kids, remember they're kids from India, not from wealthy families here.
- ▶ 1:08:29 David Rosenthal Either way, to drive a Porsche, nine 11 in India, period, is like, that's a big statement.
- ▶ 1:09:51 David Rosenthal Now, the Indian national team, the first team at this point in time, despite India being the biggest market for cricket in the world, was not that good.
- ▶ 1:10:18 David Rosenthal The television audience back home in India for this was four hundred million people.
- ▶ 1:10:27 Ben Gilbert When India plays Pakistan in cricket, it is a national holiday.
- ▶ 1:13:35 Ben Gilbert Alright, so David, India's coming hot off winning the T-Twenty World Cup cricket final, and it's time for the birth of the Indian Premier League.
- ▶ 1:18:09 David Rosenthal So, now think about setting up this new league in India.
- ▶ 1:20:22 David Rosenthal India already has pretty big cricket stadiums in all the cities that you would want to put franchises in, and who owns and controls those stadiums?
- ▶ 1:21:52 David Rosenthal And that problem is they already saturated the entire market of buyers for this form of entertainment being cricket broadcast in India.
- ▶ 1:22:46 Ben Gilbert India's advertising market was historically small.
- ▶ 1:22:50 Ben Gilbert So the entire total addressable market for advertising, not digital advertising, not mobile advertising, in 2008 in India was two to three billion dollars.
- ▶ 1:24:09 David Rosenthal Being the big daddy for all sporting events in India already with the BCCI bilaterals, which the international matches bilaterals against other countries, all the money that was there in the market that brands had for spending was consumed.
- ▶ 1:26:33 David Rosenthal One was that it should reflect the characteristics of modern India.
- ▶ 1:26:53 David Rosenthal Not only is India somewhat short in terms of supply of sports content, it's actually quite short in terms of general entertainment content.
- ▶ 1:27:22 David Rosenthal Most households in India were single television homes, and women controlled the remote control watching soap operas at night.
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