Monsoon Wedding
Hello! is just the latest celebrity magazine launching in India. Other print publications such as Cosmopolitan, Marie Claire, Seventeen, Maxim and Time Out are already on the newsstands with more on the day. India's English speaking population with rising disposable income & consumer spending makes the market ready for entertainment and lifestyle media brand imports from the west. However, most Indians prefer reading about Bollywood celebrities than the western ones, hence making the brand more valuable than its content.
According to a new report from Pricewaterhousecoopers, India's M&E industry is forecasted to outgrow the general economy every year, to double by 2011, to US$22.5B. India is a rare market where the print business is still growing. It is estimated to reach only 220MM people, while about 370MM literate readers are not reached by any publication.
Also, the TV industry is forecasted to grow 22% annually to reach US$11.78B in 2011, while print would grow 13% annually to US$5.27B. Internet advertising would grow at 43% annually to a measly $216.50MM in 2010. Only an estimated 32MM Indians were exposed to the Internet as of 2006, with 21MM regular users, leading to a great growth but still pale in comparison to other parts of the world.
Moreover, adoption of mobile phones and the internet as media consumption platforms are increasing. Because of infrastructure limitations, the former may leap-frog the latter in terms of adoption, especially by the rising middle class and the hip younger generation.
So, how is this news new media related? I think these factors point to a "perfect storm" of opportunities to launch multi-platform media brands in India, with print publication & television platforms leading the charges. Opportunities abound for including new media platforms to those brands almost immediately, without having to wait for 80 years (like in the US) for technology adoption to catch up.
We just have to remember that newspaper was once new media too. Soon, mobile & internet media delivery will become as common as online shopping, but with instant gratification.
According to a new report from Pricewaterhousecoopers, India's M&E industry is forecasted to outgrow the general economy every year, to double by 2011, to US$22.5B. India is a rare market where the print business is still growing. It is estimated to reach only 220MM people, while about 370MM literate readers are not reached by any publication.
Also, the TV industry is forecasted to grow 22% annually to reach US$11.78B in 2011, while print would grow 13% annually to US$5.27B. Internet advertising would grow at 43% annually to a measly $216.50MM in 2010. Only an estimated 32MM Indians were exposed to the Internet as of 2006, with 21MM regular users, leading to a great growth but still pale in comparison to other parts of the world.
Moreover, adoption of mobile phones and the internet as media consumption platforms are increasing. Because of infrastructure limitations, the former may leap-frog the latter in terms of adoption, especially by the rising middle class and the hip younger generation.
So, how is this news new media related? I think these factors point to a "perfect storm" of opportunities to launch multi-platform media brands in India, with print publication & television platforms leading the charges. Opportunities abound for including new media platforms to those brands almost immediately, without having to wait for 80 years (like in the US) for technology adoption to catch up.
We just have to remember that newspaper was once new media too. Soon, mobile & internet media delivery will become as common as online shopping, but with instant gratification.
Labels: India, internet, mobile, print publications
posted by KW at 2:59 PM
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