The Hindu Business Line : BBC, Times Group team up to publish magazines in India

A STRONG growth possibility in niche magazines in India has prompted BBC Worldwide and the Times Group to come together to form a 50:50 joint venture to publish magazines in India.

The joint venture will take over existing 29 magazines of the Times Group, mainly Femina, Filmfare among others. Filmfare Awards will vest with the joint venture while Femina Miss India will be managed by the Times Group and the brand will be licensed to the joint venture.

This joint venture will comprise a board with equal representation from the two media entities with a two-year revolving chairmanship. In the first two years, Mr Vineet Jain, Managing Director, Bennett Coleman & Co Ltd, will be the Chairman of this JV.

The decision to choose BBC as the joint venture partner was based on three factors - financial capability, experience and reputation, according to Mr Arun Arora, President, Bennett Coleman & Co Ltd. "This joint venture will help in redefining and redrawing the magazine landscape," he said.

BBC Worldwide on its part expected a significant growth in the Indian market in the area of magazines, Mr Peter Phippen, Managing Director, BBC Magazines, BBC Worldwide Ltd, said. Advertising revenue for magazines have risen by 69 per cent over the last five years, said Mr Pradeep Guha, President, Bennett Coleman & Co. "Advertisers love nice communities, but there must be critical mass for them to invest in these niche magazines," he said.

The joint venture, apart from managing the existing magazines of the Times Group, will also track emergent societal trends and look for opportunities to launch niche segment magazines. The niche areas where potential exists are golf, parenting, motoring, gardening and personal finance.

The magazine landscape, according to Mr Arora, is virgin; therefore offers tremendous potential. According to him, three factors - the growth of the economy; lifestyle changes and saving habits - augur well for the growth of specialist magazines in India.

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