D. Murali and Kumar Shankar Roy

Chennai: In the days of the Internet and television where every byte and each second is content, there is some good news for the purists. Yes, the print media is coming back and in grand style. In the past one year, some or the other international brand has tied up with some biggie in the Indian print space. The buzz is definitely on.

“The newsstand is going to come alive again, and this time it is larger, more colourful, more cosmopolitan and with much more to offer. Watch that space,” says Ms Anita Vasudeva, Co-Founder, SAITA Consulting, New Delhi. So, are the days of a handful of reigning publications over? Looks like that, adds Ms Vasudeva who had her own share of media when she spent a few early years in film production and direction. At stake (for all the international publishers) is a potential goldmine -- a very large English-reading market. “Reason why licensing agreements and publishing partnerships are being forged to bring in foreign publications in the news and non-news segments,” avers Anita in an email interaction with Business Line. To know what’s in store for the Indian reading consumer and how print media is evolving, read on...

Excerpts.

What’s in store?

‘We live in interesting times’ is now also true for the print media in India. The days of a handful of reigning publications is quite clearly over and drooling over a rare copy of an international title is a thing of the past. The welcome change brings with it a mixed bag of opportunities, constraints and sharp competition. Increasingly, international publishers are working in to the Indian market – a very large English-reading market – and looking at licensing agreements and publishing partnerships to bring in foreign publications in the news and non-news segments. Indian publishers, in turn, have begun to restructure processes, policies, future strategies and their offerings in this space, to cater for international alliances and competition. While this is good news for the Indian reading consumer who will no longer have to look beyond his local newsstand for a sought-after international title, albeit an Indian edition, such as The Economist, Marie Claire, Better Homes and Gardens, Prevention, Golf Digest, American Scientist Vogue, Vanity Fair and Conde Naste Traveller among many others, its worth spotting the trends that will impact the industry where national players are also growing in numbers.

There is a lot of talk about market diffusion. Illuminate us on that.

Certainly the availability of magazines and newspapers will provide a large range of choice for the reader in niche and B2B segments; it will also diffuse the readership, fragmenting the big pie into smaller, niche slices. Hypothetically, a typical magazine reader who would earlier get his political, economic, national, entertainment news and analysis from one weekly is today going to decide which three areas interest him the most and pick his three magazine titles from a choice of 30. The race for circulation, as well as advertising spends, is going to become more intense as print media chases to catch larger chunks of this pie which is spreading itself across a much larger table.

At the end it’s all about the advertising pie - isn’t it?

Unlike other parts of the world where circulation figures spell success or failure for print media, in India the high cost of newsprint ensures that it is not greater circulation that brings in the bucks. Yes, it is advertising that spells profit. To capture the advertiser in a marketplace where increasing number of publications are vying for media spend, not to mention the wooing away of ad budgets by digital and electronic media, is a challenge that is changing what the publications are putting up on offer. Newspapers throw in value-adds (free or reduced cost advertisements) on their online editions for print ad campaigns. Publishers with a range of publications create baskets of advertising rates across publications. Radio ties in with print. Print ties up with television. Print ties up with the Internet and digital. An already noticeable and growing trend is the acceptance of the digital space as a partnership alliance with print media.

Also, currently while there is a scramble to compete in a burgeoning industry, advertising rates will in due course need to respond with consistency to the changing environment in order to hold on to their advertisers.

What kind of challenges does this throw up for the advertiser?

To the advertiser, the increasing opportunity to reach out to a large market is potentially exciting, but the range of publications and the diffusion of readership are going to prove to be a challenge. This will need some very intelligent media planning with focused target groups and clear objectives. Media planners are already grappling with optimising the best mix of print, electronic and digital media to reach the target audiences.

Within the print media, they will also now need to grapple with erratic and evolving readership divisions. Credible readership surveys are going to become crucial to businesses.

Do you feel that the new firang-desi partnerships will be accepted by Indian readers?

Many international and premium Indian brands are clearly looking at foreign titles as their consumers’ choices and many of the new entrants are going to find their initial advertisers in this pool. However, the success of these publications and continuing interest by readers and hence, advertisers, is going to probably be a result of a combination of factors – the brand, the editorial quality and the content. This will also hold true for the number of already successful Indian publications as well as new Indian initiatives. The ability to be able to catch the global essence while responding to local tastes and ‘want-to-know’ ‘aspiration will determine who stays and who falls by the wayside.

What are the trends that you foresee as new arrangements play out?

Many Indian publications may have an advantage in assessing Indian readership loyalties and could leverage this successfully on their own or with global partners. Many of the foreign publications are keeping in mind the diversity between the metros and the huge English speaking reader market in urban and semi-urban India. Besides content, pricing is going to play a key role in these areas. Publishers that have a finger on the pulse of the mass readership and their content needs, as well as their buying power will survive and head for success. Interestingly, there are new and unforeseen trends already catching on in this cross-border world. Indian publications are tying up with partners to publish in foreign languages for distribution overseas. New titles are springing up to cater to the Indian Diaspora abroad and to expats in India. Cross-border publishing and outsourcing to India have added a new dimension to the industry. Yes, we live in interesting times.

Tell us about the prospects of people like us, the journalists. What will happen to ‘us’?

All this activity is providing a vast opportunity for employment. There is a reality to be faced, though – a dearth of trained professionals, i.e. journalists, creative and technical professionals. Already, there is a visible movement amongst the same community each time a new publication enters the fray. The number of vacancies in print media companies grows by the day. Training institutions of some calibre are sadly very few in number. There is an opportunity here and hopefully there will be a response to create an eco-system to cater to this. The quality and success of businesses will depend largely on its people.

There must be a few holes that the new tie-ups will look at sewing up. Technology?

The best outcome of this evolution in the industry is that a global and international-standard competitive environment will always raise the bar. In a more competitive market superior and relevant quality of content and production will define business and financial success. Technology – especially in the printing industry – will need to respond to the need for better standards.

Distribution channels will need to get organised to handle the growing volumes and types of magazines. Research methodologies will become more relevant, precise and innovative, and knowledge distribution patterns will be continuously reviewed. Certification norms will necessarily be re-visited. Overall, the industry will need to become an organised space with credible platforms and continuous trend and number watches.

Any last comment?

The newsstand is going to come alive again, and this time it is larger, more colourful, more cosmopolitan and with much more to offer. Watch that space.

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