If you thought only TV Channels are growing like crazy in India can you digest this?
Indian print Industry saw the launch of 60 new magazine titles in past 12 months !
Bucked the recession? It looks like, but the fact is that print ad revenues dropped almost by 30 per cent in past 1 year. Still the confidence of both Indian and International publications remain strong solely because of the available market opportunity.
As India Today Group Chairman and Editor-in-Chief Aroon Purie put the facts at the fifth Indian Magazine Congress 2009 :
“With 60,000 registered newspapers and periodicals, India is the second largest print market in the world”.
Aroon also pointed out some growth opportunities in sectors such as local language magazine printing and magazine retailing.
New magazines have been launched in various sectors like- business, high end fashion, men’s magazines, lifestyle, sports, technology etc.
These are some of the new entrants in market-
- Business – Forbes, Inc., Entrepreneur.
- Technology- Stuff (India’s version of Stuff, UK).
- Lex WITNESS– first Magazine on Legal and Corporate affairs.
- Feature and current affairs weekly magazine- Open.
- Seed Today– Agriculture Today group.
- Sports Illustrated India- Sports.
- Fashion and Beauty Magazine- Harper’s Bazaar.
- Indian edition of the British weekly magazine- Spectator India.
- Food and Nightlife – Lifestyle.
The trend is similar in Print media as in TV Broadcasting- “Large number of foreign collaborations”.
With Network 18 using similar strategies for both Print and Broadcasting, there can be many others looking for such expansions.
What are your thoughts? Will we see the same pace of growth in coming months as well?
[This Media Monday digest has been written by Rabi Gupta, a start up enthusiast and co-founder of iDubba (Intelligent Box).]