Mumbai: The Print Media industry in India has been an example of resilience and growth, defying global trends and showcasing consistent year-on-year success. Alongside Germany, India stands out as one of the few markets where print media has flourished despite the digital revolution. This remarkable growth can be attributed to several factors that hold significance from both the advertiser's and the consumer's perspectives.
In the education industry, connecting with students and their parents presents a unique challenge. While online media undoubtedly provides an excellent platform to engage with students, Print media plays a crucial role in capturing the attention of parents, particularly in non-English reading markets. Regional newspapers, renowned for their focus on local news and events, have garnered immense popularity among readers in the 40 plus age group. By strategically featuring educational institutes alongside such localised content, there is a tremendous opportunity to enhance visibility and resonate with parents.
The recent report by CRISIL reaffirms the positive trajectory for the print media industry in India. According to CRISIL, the revenue of print media is expected to jump by 13 to 15 per cent this year, reaching an impressive Rs 30,000 crore. According to the report, this surge in revenue is primarily driven by higher spending on advertisements by corporates and the government, particularly due to the upcoming elections. This positive outlook translates into increased profitability for the sector, with an expected growth rate of 10 to 14.5 per cent.
The CRISIL report also highlights that customers in India continue to have a preference for print media. Over the past two years, physical newspapers have witnessed an impressive growth of 8 to 10 per cent in subscription revenue. This year, the sector is expected to witness a 5 to 7 per cent jump in subscription revenue, largely driven by moderation in prices. This growth underscores the enduring value that print media holds for Indian readers.
This is in fact great news for the education sector where print media plays a pivotal role in engaging parents and conveying the value proposition of educational institutions. While online media provides an excellent channel to connect with students, print media holds a unique position in capturing the attention and trust of parents. With their localised content and readership in non-English reading markets, regional newspapers present a valuable opportunity for educational institutes to gain visibility among parents and foster meaningful connections.
I firmly believe that print media offers a distinctive avenue to engage with parents and convey the value proposition of educational institutions. The enduring appeal of physical newspapers and their localized content creates a unique bond with readers, enabling educational institutes to forge meaningful connections. By leveraging print media's credibility and trust, institutions can effectively communicate their offerings and showcase their commitment to academic excellence.
In a country as diverse as India, print media plays a vital role in reaching out to a broad spectrum of readers. While online media caters to the digital-savvy generation, print media acts as a bridge that connects with a more traditional audience. This is especially important when it comes to parents who often rely on print media as a trusted source of information and guidance for their children's educational journey.
Moreover, print media's prominence in non-English reading markets cannot be underestimated. In these regions, where a significant segment of the population prefers regional languages, regional newspapers play a crucial role in disseminating news and information. By strategically aligning educational content with regional newspapers, educational institutions can tap into this vast and often untapped market, capturing the attention of parents and fostering a sense of familiarity and trust.
While digital media continues to evolve and offer new avenues for engagement, the resilience and consistent growth of print media in India present an undeniable opportunity for the education sector. By embracing print media as an integral part of their marketing strategy, educational institutions can effectively engage with parents, showcase their unique strengths, and stand out in a competitive landscape.
The author of this article is Narsee Monjee Institute of Management Studies (NMIMS) director of marketing & PR Burzeen Bhathena.
