The business of B2B or trade media awards isn’t a hidden secret. The awards and power lists announced throughout the year have become a money-spinning machine for some b2b media platforms.
It’s an open secret how these awards are distributed indiscriminately with every media group getting 40-50 medals, if they promise a certain number of entries and certain revenues.
The ongoing joke in Noida’s film city is that every media house located in 150-meter radius gets 50 such awards.
As the credibility of B2B or trade media awards hits an all-time low, Network18 Group has decided to not enter any trade awards.
The group that runs several news channels and digital platforms such as News18 India, CNN-News18, CNBC-TV18, CNBC Aawaz, Moneycontrol and Firstpost among others, decided to pull out from the trade media awards circus as it wants to keep building its brands “basis good content and great journalism.”
“Trade awards are hardly relevant. They’ve been set up to appease pretty much everyone who enters. It’s a networking exercise for trade platforms,” said a senior executive from Network18 Group.
“That said, we don’t want to discredit any b2b platform. In terms of covering the industry, they’re doing a great job. We engage with them on regular basis for editorial initiatives. We also advertise on them, along with pushing regular mailers and other marketing activities. We understand the reach that they bring in terms of communicating our message. But awards is something that we believe isn’t done with that level of transparency,” the executive added.
“Our biggest award is the viewership and not random industry awards which are given by rotation to all the media houses irrespective of performance or impact. However, we will continue to enter reputed awards such as Ramnath Goenka Awards and other similar awards that are credible,” the executive added.
Several in the Indian media have time and again questioned the credibility and relevance of ‘Dime A Dozen Trade Awards’.
Network18 Group’s decision to not enter awards that are not transparent and honest can be seen as a clarion call for the TV news industry.