Gaurav Banerjee sets audacious goals to rebuild Sony after failed ZEE merger

Talking to Mint, Banerjee reflected on his first 100 days, describing the period as “exciting and fulfilling.” He refrained from assigning himself a scorecard, saying, “Ratings come out every week, so how I’m doing will ultimately be determined by stakeholders—my bosses, employees, viewers, and business partners.”

Banerjee compared content creation to navigating a river—sometimes calm, sometimes turbulent—where every step must be taken cautiously. “I’m taking my first steps in this river. It’s early days, but we are clear on the direction. This is about focusing on the process and taking one deliberate step at a time,” he said.

Reclaiming SET’s Glory

Sony Entertainment Television, the company’s flagship Hindi general entertainment channel, has seen its ratings slide in recent years. Banerjee called this a top priority, describing SET as “foundational” to Sony’s success.

“When I took charge, people internally felt that SET needed to be fixed. It was a great channel, built on a strong, highly differentiated positioning, but in some ways, over the last few years, it had lost its way,” he admitted.

Banerjee’s first big test came with Indian Idol, a marquee property reimagined with upgraded production design and rapper Badshah joining the judging panel. “Singing today is about performance as much as vocals,” he noted. The changes delivered immediate results—Indian Idol topped Hindi non-fiction charts in its first week on TV and recorded 30% higher viewership on SonyLIV compared to the previous season.

The turnaround for SET is already visible. “When I joined, the channel was at 66 GRPs. Two weeks ago, we touched 89,” Banerjee said.

The momentum will continue with the revival of CID and three new shows slated for launch soon. “Before we added, we subtracted,” Banerjee explained, hinting at more disciplined content curation to reclaim SET’s leadership.

Sony SAB and SonyLIV

Sony SAB, known for its light-hearted comedies, remains another critical pillar. “SAB is a powerful, differentiated brand, and we are ensuring a consistent content pipeline,” Banerjee said. The return of Tenali Rama, a hit historical comedy-drama, marks the start of renewed efforts to grow the channel further.

On the digital front, SonyLIV is aiming for aggressive growth. Its strategy rests on premium originals, marquee sports, and exclusive non-fiction hits. Banerjee confirmed that Shark Tank India, which earlier aired on both linear TV and digital, will now stream exclusively on SonyLIV to drive subscriptions.

“Originals are the growth engine for OTT platforms,” Banerjee said, pointing to returning series like Scam, Gullak, Maharani, and Rocket Boys as anchors for the platform’s next phase.

Sports push

Sony’s aggressive bet on sports, particularly cricket, signals its intent to reclaim ground from rivals like Jio Star (the Disney Star and Viacom18 merged entity). The network’s biggest win under Banerjee so far is securing exclusive media rights for the Asia Cup.

“With marquee events like the India-England Test series in June-July and the Asia Cup in September, we now have a strong cricket calendar next year,” he said.

Sony also holds a seven-year deal for New Zealand Cricket, covering major Indian tours in 2026-27 and 2030-31. Its sports slate further includes European football, three of the four Grand Slam tennis tournaments, and cricket boards like England, New Zealand, and Sri Lanka.

“We’re focused on premium cricket, football, and tennis. That’s a strong base,” he said. Live sports, he added, remains a critical driver for both linear TV and SonyLIV.

Ad market challenges

India’s advertising market is growing, but linear TV faces stiff competition from digital giants like Google, Meta, and Amazon. Banerjee acknowledged the stagnation in CPRP (cost per rating point) but highlighted Sony’s dual play across TV and OTT as an advantage.

“We are not just a TV network; we’re also a digital company. That hedges us in the evolving ad environment,” he explained.

Banerjee also took a pragmatic stance on competition, “We can’t be constantly thinking about competition because that comes in the way of us running our race in a focused way. What do we do? We try and build great shows—assemble the right teams, write the right scripts, cast the right actors, and market those shows well. Competition doesn’t stop us from doing any of that. The moment we get it right, our partners on the monetization side will line up to work with us.”

Bold investments with discipline

Banerjee dismissed concerns that Sony’s growth plans might suffer after the failed Zee merger, which included a $1.5 billion investment. “The Asia Cup deal proves Sony’s appetite to invest in India. Financial resources are not a constraint,” he said.

However, Banerjee emphasized balancing ambition with discipline. “This isn’t some heroic tale where boldness is rewarded for the sake of it. We are here to responsibly run a business. Having a profitable business allows us to keep investing in it to make it better. Creativity thrives when resources are finite, and choices must be made. Teams that make the harder choices and do them well tend to succeed.”

Taking Indian stories global

Looking ahead, Banerjee believes Indian content has the potential to cross borders. “We’ve seen Korean and Turkish shows become global successes. Indian stories can do the same,” he said.

Banerjee also highlighted Sony’s position as one of the few profitable global media companies in India, standing apart from rivals.

Road ahead

Banerjee’s vision reflects a content-first strategy powered by marquee sports, refreshed TV programming, and exclusive digital hits. While avoiding public targets, his ambition is clear.

“We have audacious goals, but this isn’t about heroics. If we focus on creating outstanding content and fostering the right culture, the rest will follow,” he concluded.

Under his leadership, Sony is tightening its grip on flagship properties, betting big on cricket, and expanding SonyLIV’s reach. “We’re just getting started,” Banerjee said, signalling a bold new phase for Sony in India.