Times Network to launch Property Now channel in October

The new channel is planning to experiment by splitting television beams and having different content targeted at specific markets. The channel has already invested in that technology, with Amagi as the partner

BestMediaInfo Bureau | Mumbai | September 10, 2015

Times Network, the broadcast arm of Bennett Coleman & Co, has announced the launch of a 24x7 realty and property news channel, Property Now. The announcement was made by MK Anand, MD & CEO, Times Network, at the inaugural session of FICCI's The Big 5 Construct India 2015, held in Mumbai yesterday. While the launch date is not yet specified, Anand said that the new channel should launched any time after the culmination of the 'Shradh' period in October.

Speaking at the event, Anand said, “Poised for an unprecedented growth boosted by the Government's Smart city and housing-for-all projects, the housing and realty sector commands investments of over 60 per cent of the Indian household savings. We feel that the industry needs a cohesive and powerful platform, where all the stakeholders can exchange their views, communicate with each other, and influence the policymakers for the upgradation of the sector. Hence, we are delighted to announce the launch of Times Network's 24-hour dedicated real estate and property channel - Property Now. The channel will aim to address all needs related to real estate, property and infrastructure.”

The new channel will be a unique destination for content and information on the property market, offering viewers' unbiased information that makes the home-buying process simpler and more efficient.

The channel will be helmed by Faye D'Souza, who is also the Editor - Personal Finance & Real Estate, ET Now. President – News, Times Network, Arnab Goswami, will guide the new channel and lead the editorial team.

“India's existing needs for housing is a $2.3 trillion problem. 30-35 per cent of the housing cost goes to the government as taxes and fees. The government has a long-held dream of having low cost housing for all by 2022. It is here that media needs to play a responsible role and facilitate a dialogue between the government, the local bodies and the real estate industry,” said Faye D'Souza.

Property Now will have two and a half hours of original programming, news and debates in the evening. There will also be a host of featured shows (on weekends) on infrastructure, location, regions, cities, government initiatives, smart cities and also shows cutting across lifestyle, interiors, home décor and more. The channel will also have syndicated feature shows.

Faye-D'Souza

Sharing more on the programming of Property Now, D'Souza said, “The channel will have news bulletins that will share the industry and pricing trends and put into perspective any development happening on the day. It will have debates, wherein we will get guests who are accountable to the customers, to come and talk about what's happening in this segment. There will be a show, wherein viewers can call and address their queries related to property and panellists will be demystifying those queries. Besides, there will be features on various subjects like how to decorate your house, how to make it safe for a child, etc. The channel will have a broad spectrum of content related to legality of buying properties, financing related to properties, and so on.”

While Anand refused to divulge the names the advertisers on the new channel, he said, “We've already got a reasonably large number of launch partners signed up. I haven't started accepting regular advertising as at the moment we're only looking to tie up with launch partners. Suffice it to say that 50-60 per cent of the total annual revenue is already booked.”

To be distributed pan-India, the channel will be targeting the 1mn+ markets initially. In will reach the target markets currently being served by ET Now in a phased manner.

When pointed out about the online real estate market, Anand said, “We already have Magicbricks.com in that area. But Property Now will not be a search and transaction business. Ultimately, we're trying to create an audio-visual brand called Property. But it doesn't mean that it will be limited to the broadcast platform. By January 2016, we'll have the Property Now app. However, we will not be competing with Magicbricks.com or Commonfloor.com. Property now will be all about educating and informing a consumer.”

When asked about how the channel would address consumer grievances, he replied, “Our fundamental aim with Property Now is to improve the customer experience while buying a home. The feedback that we've received is that customer finds it extremely painful to buy a home. Be it at the hands of the builders, the labour board or the government bodies – we will report on all such consumer grievances.”

He further said, “Regional is a major investment destination. There are 3-4 top end markets like Mumbai, Delhi NCR, Bangalore, and may be Pune to a certain extent. Then there are the second rung cities like Hyderabad, Chennai, Kolkata, etc. From an advertising point of view, and also later on from a content point of view, we will be experimenting with this channel by splitting television beams. We have already invested in that technology, with Amagi as our partner. They have been doing this for advertising.”

Property Now is the latest channel from the Times Network bouquet, which comprises Times Now, ET Now, Zoom, Movies Now, MN +, and Romedy Now.

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