While the Hindi Business Publications failed to attract more readers, their English counterparts are ready for an expansion. Indian newsstands will soon add more business publications.
Bennett, Coleman & Co. Ltd (BCCL) will soon launch a weekly business newspaper. According to industry sources, the newspaper titled Crest will be launched within next three months.
“Business publications have registered a sizeable revenue growth after the recession. Keeping in view the new advertising trend we have decided to expand our product portfolio,” Rahul Kansal, Chief Marketing Officer,BCCL said.
Another player will be Anant Media (Publishers of Tehelka) which has recently partnered Chandigarh based Alchemist Group which publishes Financial World . According to sources Alchemist Group has bought a stake in the Anant Media Private Limited.
The new business media brands will compete with old players like Economic Times , Business Standard, The Hindu Businessline , The Financial Express , Financial Chronicle and Mint. Economic Times is the oldest Financial daily (50 year old) which sells seven lac copies every day. Total circulation of business dailies in India is 11 lac copies per day.
Business publications garner a revenue of more than Rs 600 crore every year and are growing between 7-10% per annum. According to a Groupm estimate newspapers will see a revenue growth of five percent in 2010 . Advertising spending in India is expected to register a 20% growth in 2011.