Indian Economy News

Strong outlook: Indian print media industry is poised to record robust growth in 2024

  • IBEF
  • February 20, 2024

Mr. Sivakumar Sundaram, CEO of The Times of India, expects print ad revenue to reach a record high in 2024 due to newspapers' credibility, affordability, and strong readership habits. Print media remains a strong medium for advertisers aiming to build trust and credibility. Crisil predicted a 13-15% revenue growth for Indian print media in July 2023, driven by increased corporate and government ad spending. Mr. Girish Agarwal from DB Corp highlighted the credibility of newspapers and the growth in economic activity, leading to improved ad revenues for Indian-language newspapers. The sector's outlook is strong, with expectations of further growth. Shashi Sinha predicts strong growth in print media in 2024 due to elections and new automobile launches.

Combining digital and print can enhance marketing campaigns. ICRA forecasted an increase in operating margins for FY24 due to lower newsprint costs and increased ad revenue. Mr. Sundaram mentioned balancing newsprint suppliers to mitigate challenges, positively impacting print media companies' bottom lines.

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