Indian Economy News

Print Media revenue to rise by 13-15% in FY24 due to higher ad spends: CRISIL

  • IBEF
  • July 12, 2023

According to CRISIL, print media’s revenue is anticipated to increase by 13-15% this year as a result of increased government and corporate advertising spending.

In FY24, the revenue of print media is predicted to reach US$ 3.63 billion (Rs. 30,000 crore). According to CRISIL, this will boost the sector's profitability by 10-14.5%.

The revenue for print media is split 70:30 between subscriptions and advertisements. The industry's revenue increased by 25% and 15% in FY22 and FY23, respectively.

According to Mr. Naveen Vaidyanathan, Director, CRISIL Ratings, "Sectors that contribute about two-thirds of the print media ad revenue-retail, clothing, and fashion jewellery, new car introductions, rising preference for higher education, online shopping, and growing real estate sales, will keep the momentum in ad revenue growth going."

"In the aftermath of the impending elections, the government, which provides a fifth of the sector's advertising pie, will spend more money on advertising, which will spur growth. So, this fiscal year, we anticipate ad income to increase by 15–17% and virtually reach pre-pandemic levels.

Customers in India continue to favour print media, according to CRISIL. The revenue from subscriptions for physical newspapers increased by 8-10% during the previous two years. It is further anticipated to increase by 5-7% this year, mostly due to moderate price growth.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.