Warc, 15 February 2013
MUMBAI: The share of Indian adspend allocated to magazines is
set to rise in the years ahead, according to the president of the Association
of Indian Magazines.
Speaking to delegates at the Indian Magazine Congress, Tarun
Rai, compared the current share in India to that in more mature Western
markets.
He pointed out that in the US this figure stood at 17%,
while in parts of Europe it was even higher, with Germany recording an 18%
share. In France, magazines account for 15% of adspend and in Italy 11%.
"At 4% of adspend, share of magazines in India can only
go up," Rai said.
In this context, Rai also noted a recent prediction by FIPP,
the worldwide magazine media association, that more magazines will be launched
in 2013 than in 2012.
Referring to the extraordinary global growth of tablets –
with 20m sold in 20 months – Rai argued that this presented new opportunities
for publishers.
"Readers have been found to spend 45 minutes on the
print version of a magazine, versus 160 minutes on the tablet," he said.
Speaking in his capacity as CEO of Worldwide Media, late
last year Rai declared: "All our magazines are available in their digital
versions. We are also aggressively developing various magazines' apps and will
be launching them soon."
"We see an opportunity in reaching a new younger
audience through our digital initiatives," he added.
Elsewhere at the Congress, Nitin Paranjpe, CEO of Hindustan
Unilever, referred to the pace of innovation in the Indian magazine sector in
his keynote speech to delegates.
"The things that we feel we cannot live without will
become redundant within our lifetime," he said. "The only way to deal
with it is to embrace change."
Data sourced from Campaign India/MxM India/Exchange4Media;
additional content by Warc staff
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