Country’s leading vernacular and English dailies are on an expansion spree.The Telegraph, The Hindu , Mint ,Dainik Jagran,Dainik Bhaskar,Hindustan Media Ventures, Amar Ujala and Sandesh have either announced new expansion plans , have launched new printing centres and have invested in new ventures .
Dainik Jagran and Hindustan Media Ventures have alone attracted a foreign investment of Rs 575 crore recently.Jagran Prakashan has acquired Mid Day.
While The Hindu recently launched its 14th printing centre in Hubli, ABP owned The Telegraph launched Orissa edition. HT Media’s Mint has launched its Ahmedabad edition. The Pioneer has plans to launch Hindi edition and Bennett, Coleman & Co. Ltd will launch weekly English business magazine soon.
According to an estimate Indian media companies will invest around Rs 1500 crore in new ventures .Industry sources say stability in advertising revenue has propelled print media growth in India, after recession in particular.
“Mid sized Regional media companies are earning more circulation revenue than their national counterparts that is why regional dailies are expanding fast,” Smita Jha, Associate Director, PricewaterhouseCoopers said.
Daily newspapers earn about Rs 10000 crore advertising revenue every year out of which 35% is earned by regional dailies.
According to industry experts, regional print media companies will see an upward trend in revenue growth than their national counterparts in future.
There are about 70,000 registered newspapers in India.