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Indian print industry on a roll
WSN Network
MUMBAI:
At a time
when it has been predicted that the newspaper would die in another
three decades, the print media in
India is showing
a great resurgence. Buoyed by the rising incomes and growing
literacy in the country, readership and revenues of magazines and
newspapers is skyrocketing in India.
From specialist
magazines on whisky, golf and parenting, to regional-language
newspapers and financial dailies, new titles are coming thick and
fast in one of the few markets in the world where advertising and
readership for print media are expanding.
Print
publication advertising revenues in India generated 94 billion
rupees ($2.4 billion) in 2007, or 48 percent of all of the country’s
media advertising revenues, Price Waterhouse Coopers (PWC) said in a
recent report. TV ads generated 41 percent.
With the economy
having grown at an average rate of 8.75 percent in the last four
years, middle class incomes have risen, boosting demand for niche
magazines on health, leisure and finances.
Growing
prosperity in rural areas is also encouraging demand for
publications in India’s more than 20 official regional languages.
Revenue for newspapers and magazines in India, where reading at
least one newspaper in the morning is sacrosanct, grew at an average
rate of 15 percent in the last four years, higher than anywhere in
the world, PWC said.
14
May,
2008
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