Magicbricks NOW, a real estate and property channel from the Times Network was formally launched by Urban Development Minister Sh M Venkaiah Naidu, at his residence in New Delhi today. The channel will become commercial on November 1st.
Real estate portal Magicbricks.com owned by Times Internet is a partner in the channel. ET Now editor of real estate and personal finance Faye D’Souza and Times Network MD & CEO MK Anand were present at the launch. Speaking to the press, Sh Naidu said television channels should learn to differentiate between news and views so that the people could discern the real situation themselves. Aptly, the channel’s tagline is ‘Be Un-confused’ and will focus on helping the consumers understand the nitty gritty of buying a property.
Ms D’Souza will be the editor of the new channel. She will report to Times Network president of news Arnab Goswami. Mr Anand in his interaction with the press after the launch said that this channel is a natural extension of our news network that is spread over print, television and on-line media. He added that considering the response from sponsors, the channel is expected to break-even in five to six months only. Already, three major real estate companies have partnered with the channel. According to him, “Distribution of the channel is assured as Times Network has the highest viewership amongst all English news channels having a viewership of 18 million for its English News network”. He informed that on all India basis, English news genre has a viewership of 26 million. Magicbricks NOW is a ‘Pay’ channel and will be distributed over all networks including DTH, Cable TV and IPTV. It will also be streamed live on MagicBricks online portal.
Times Now, ET Now and Magicbrick NOW will form the news bouquet of Times Network, with the real estate and property channel to complement business news channel ET Now. The real estate segment ad market is close to Rs 3,000 crore (Rs 30 billion) and is dominated largely by the print category. Some of the key advertising categories on the channel are real estate, real estate portals, building constructions and interiors. “We have already got four reasonably large number of launch partners including Magicbricks.
“We don’t have commercial linkages with Magic Bricks or Times Property, but yes the whole go-to market with builders has happened in tandem with Times Response. We are doing it as a joint sales activity with Response,” he stated. “We are encouraging builders to advertise on Times Now and ET Now with MagicBricks Now as a lead piece,” he stated. As far as Content is concerned, Magicbricks NOW will be more a part of urban development infrastructure industry rather than Media Industry. It will have about three hours of original content and will air news bulletins and debates apart from international syndicated content. The channel will cover a wide range of issues including industry trends, pricing trends, new technologies, smart homes, smart cities etc. It will also have lifestyle shows on interiors and home decor. “We will spend a lot of time on advice which includes tax, home loans and legal aspects. The debates will put into perspective important developments of the day. Our focus is on the end consumer who is buying or selling,” said Ms D’Souza. The Channel will bring all the stakeholders together in these debates and discussions. Content will be a mix of English and Hindi understood all over India. However, it also plans to have some programmes in regional languages for the regional markets. It has partnered Amagi Media for providing geo-targeted advertising and to offer split beams in different regions.
Magicbricks NOW, will be India’s first pan-India property channel. Currently, Spin TV is the only property channel, but it is limited to only Gujarat and Maharashtra. The channel will initially focus on key urban markets with million plus cities. Times Network operates six channels, namely Times Now, ET Now, Zoom, Movies Now, MN+ and Romedy Now. At present many business news channels have property shows as part of their content line-up. CNBC TV18 has Prime Property, ET Now has The Property Guide, and NDTV Profit has Property Show.