Print is still growing in India, the market size is second only to China and represents a great opportunity as the literacy rates rise and consumers demand more specialised content. Find out where the revenue opportunities are in the huge print market. Learn what your competitors are up to and how your company can participate in this still growing market.
- Macro Trends
- English vs. Vernacular publications
- Advertisement Revenues
- Growth Outlook
- New Business Models
- Digital Developments
Find out about regional power shifts, how rising literacy rates are affecting the market, pan India expansion, high cover prices and more. If you're looking to enter the fast moving print market in India and uncover revenue opportunities this is the research you need to look at.
The Indian Print Industry is the second largest in the world (after China), well established and, unlike in the west, continues to grow at a steady pace. At a current value of USD 4.2 billion, the growth has been at a CAGR of 7% in recent years. There are over 82,222 newspapers with a circulation of over 100 million copies daily.
Taken in aggregate, print will remain a growth medium for a number of years – probably for at least a decade from now. In fact, forecast growth for the next 5 years is a slight acceleration to 9%.
Two factors will ensure that India confounds the expectations of western media markets:
Firstly, Indian newspapers have always been very low price and this will not change. It is almost a free medium, with a very well-established direct to home distribution structure. Electronic alternatives, requiring some capital expenditure on devices, will invariably appear more expensive, rather than less.
Secondly, growing literacy and somewhat improved affluence among India's regional communities will continue to bring additional consumers into the market for regional language newspapers. About 74 per cent of the population are literate according to the recent National Census figures, up from 65 per cent in 2001. Given that the current print media penetration is only 20%, the rising literacy rate provides enough head room for growth.
However, though these trends are very real and will ensure print remains strong for the next decade at least, they could mask a third trend which will impact the highest SEC groups. Here, among India's more affluent middle class, the transition to digital will begin to impact in the next five years, as you would expect.
The consumer magazine market is flat in aggregate terms, but should be divided into two parts. News magazines, traditionally the largest part of the English magazine market, have been in sharp decline, hit, like their counterparts in the west, by widespread access to TV news channels and web content (as well as cheap newspapers). Meanwhile, Women's and Specialist magazines have shown growth – and those targeting affluent readerships have been able to deliver substantial price rises. This also reflects the fragmentation of social attitudes – where once, three generations of women in a family might expect to read the same title, now there are many different ones. Also, as leisure interests proliferate, the market for specialist titles has increased.
The Business-to-Business magazine sector is still nascent. We believe this segment will undergo a significant growth as increasing competition, global expansion and business complexity will necessitate the need for more business to business information among Indian corporate. Given its late start and reader sophistication, this sector may well skip print and go straight to digital. This is covered more extensively in our separate B2B report (see other products)