Business channel CNBC has decided to give Goafest 2010 a miss this year. The 3-day annual event is being held on the Cavelossim beach and way back from its inception in 2006, the fest is being called India’s answer to the Cannes Festival.According to two adexecutves familiar with the situation, CNBC’s decision was influenced by the perception that the awards have decreased in relevance, and because the Goafest award winners names have been leaked three times in a row (including 2010) by the Economic Times.
This is an important development as CNBC’s show format “Storyboard” is one of the pioneering television shows on the advertising and marketing industry, and has seen sigificant success leading to replications of the show on other business channels. Also this is the first time that a media publication has decided to give the festival a miss.
When contacted, Anuradha SenGupta, Editor & Anchor,Storyboard / Features Editor CNBC TV18 said, “Storyboard has covered the marketing industry with passion and dedication for the past 9 years. We are unable to cover the Goafest this year because we couldn’t see how we could add value to our viewers. Having said that we wish the festival success and will announce winners when they are declared.” Meanwhile Colvyn Harris, chairman, Goafest and chief exective, JWT India, said, “It is unfortunate that one of the front runners in the business television space had decided to give the festival a miss. In the end, this is an industry event and one would hope that everyone participates. CNBC ’s decided to not participate this year is unfortunate. But at the end of the day, its their call and we cannot do much about it.”
Sam Balsara, chairman and director, Madison Communications Pvt ltd said that it was time that the advertising and marketing industry set their own house in order. ” I think we should put our own house in order before we point fingers at any publication for printing results before time. The fact is that there are 20 senior people in this industry who’ve signed a code of confidentiality. We need to put tighter and more stringent systems in place, which are foolproof, as the media in this country become more and more competitve. Its a dog eat dog situation after all.”
An Economic Times report carried on 31st March 2010 predicted that the Vodafone Zoo Zoo’s will walk away with top honours at the festival and that ad agency Ogilvy & Mather would bag the Grand Prix in the integrated category of the Abby 2010. Goafest is in its fifth year now and this year’s theme is ’Survival of the Freshest.’ The festival will continue over the next three days - 8, 9, 10 th of April at Cavellossim beach, Goa.