The Hindu Business Line : `Print media has scope in digital age'

Clear writing Of the total advertisement industry of Rs 13,200 crore estimated for 2005, the press accounted for 48 per cent. In 2004, the press grew faster than television at 14.7 per cent.

Mumbai , March 25

Poised on a trajectory of growth, the country's print media is faced with challenges such as rising newsprint costs but has opportunities in the digital age.

The print media's potential lies in the fact that the press reaches 35 per cent of its adults. "Our size is our strength," said Mr Jacob Mathew, Executive Editor and Director, Malayala Manorama.

The Indian newspaper industry's turnover is expected to touch Rs 13,500 crore this year from Rs 12,000 crore last year. If the country's growth were around eight per cent, the industry's turnover would grow at 12-14 per cent.

Of the total advertisement industry of Rs 13,200 crore estimated for 2005, the press accounted for 48 per cent while television accounted for 41 per cent, according to a study done by TAM Media Research for FICCI-Frames 2006. In 2004, the press grew faster than television. Press grew at 14.7 per cent, while TV grew at 13 per cent. In 2005 press has grown at 16.1 per cent while TV growth was 11.4 per cent.

Not only is there opportunity for the Indian print media to grow but growing consumerism has thrown up opportunities for special interest magazines, Mr Aroon Purie, Chairman and Chief Executive, India Today Group, said at a session on the future of print media at FICCI-Frames 2006. In a robust economy, special interest magazines will proliferate and flourish. Players will work towards offering niche products, he said.

However, newsprint price, which is on an upward trend, is critical as 1.6 billion tonnes of newsprint are consumed in India annually. Newsprint accounts for a significant part of the costs.

While other medias pose competition to the print media, changing technology would drive growth, Mr Mathew said. Portals such as Naukri.com and Shaadi.com have made major inroads into classified advertisements.

But in the digital age, newspapers will have to redefine content. "Never take a reader for granted. It is a challenge to retain readers,'' he said.