The Media and Entertainment industry major “Viacom 18” has elevated Raj Nayak, current CEO of Hindi general entertainment group ((Colors, Rishtey and Rishtey Cineplex) to the position of COO.
Viacom 18 has also reorganized their current organizational structure with immediate effect. The new reorganized team across the brands of Hindi, Music, Youth and English Entertainment offerings will work under the leadership of Raj Nayak.
Under the new reorganized structure, Ferzad Palia’s role has also been further extended to include two new businesses -‘Brand Studio’, which will be creating branded content and white label solutions for their partners, along with the original commissioned content. The next one is ‘MTV Music Project’, which will foster a well-supported ecosystem for new as well as established artistes and create authentic music content. This will be in addition to his existing portfolio that includes MTV, MTV Beats, COLORS Infinity, Vh1 and Comedy Central, as the head of Youth, Music & English Entertainment at Viacom18.
“Viacom18’s DNA has enabled it to pre-empt market shifts and adopt unconventional approaches to address conventional business challenges. Since inception, our topline has grown 40x and channel count has grown over 12x while being PAT profitable. Today, Viacom18 has 5 diverse lines of business – in addition to a core broadcast offering it now has a strong presence in digital, filmed and live entertainment along with a fast-growing licensing and merchandising operation. None of this would have been possible without our most valuable asset – our team. Our endeavor has always been to build a future ready organization with distinct capabilities and a distinctive culture with an emphasis on developing internal talent. This new structure will power us as we enter our next growth phase,” said Vats, Group CEO, Viacom18.
On Nayak’s elevation, Vats added, “Raj is one of those rare leaders in our industry who possess a sharp business acumen coupled with a nuanced understanding of what makes brands iconic. I am confident that he will be able to take this portfolio of brands to even greater heights as he leverages deeper synergies in his new role.”