“To stay relevant, print media needs to reinvent”

Visionary Talks with Ashish Pherwani, media and entertainment leader, EY LLP

GN Bureau | September 10, 2020


#economy   #entertainment   #media   #Novel Coronavirus   #Covid-19   #print   #TV   #Ashish Pherwani   #EY LLP  


The print media has faced severe challenges of late, especially after the Covid-19 pandemic breakout; but it has survived and has potential to grow in the years to come, believes Ashish Pherwani, media and entertainment leader at EY LLP.

When authorities imposed a lockdown to contain the spread of the virus, newspapers were not delivered at home in late March and April, but soon they made a comeback and the reach and circulation of regional print media is back to almost 85% of their pre-Covid circulation levels except in larger cities for English newspapers, he said,

Pherwani was talking in a webinar Wednesday with Kailashnath Adhikari, MD, Governance Now, as part of the Visionary Talks Series.

To see the previous episodes of the series, click here: http://www.governancenow.com/visionary-talks-series

Watch the video:



Pherwani, however, said that monetizing digital subscriber from the subscription point-of-view and convincing an advertiser to pay the same rate for physical subscriber and digital subscriber is a challenge, and emphasized on clubbing of databases of physical and digital subscribers.

“There is need for fundamental change in how advertising is sold in print and how we can club databases of physical and digital subscribers to grow revenue. To me, it’s an opportunity lost in a big way. Something needs to be done fundamentally for print to grow in future in terms of ad revenue, otherwise circulation will be a challenge,” said Pherwani.

He also said that print is going to get its circulation going and spend the next year or two in building up circulation. “We saw many people trying digital newspapers for the first time, even those having smart phones. Some people will continue with that mechanism and some will come back to reading physical newspapers, some will move to digital medium for the quality offered,” he said.

Asked if television will get back its ad-ex to pre-Covid levels now that the original content is back, he said that TV will recover 100 percent and not get dethroned for several years from its place. It has a reach of 800 million people in the country and apart from radio it is too big a sector apart. It is the least expensive mode of entertainment in the country and growing well.

Pherwani said that it is not as much Covid impact on genres but the double whammy that it has faced due to NTO and Covid where certain sectors have been impacted. “I am hoping it will recover by end-2021. In India, we have seen that it’s very tough to bring back rates once they have gone down. For broadcasters who have done discounting in a big way it will take them longer than usual six months or so in Covid situation to climb back.”

He also said that Covid has brought in golden opportunity for news. The need to know what is happening in the world today has grown and customer acquisition cost has come down and people have switched to news channels. While many were bang on in content creation, others will have to relook at their marketing and customer data strategy to build engagement with customers and monetize. 

Comments

 

Other News

Cast your vote, not vote for caste

Once the schedule for the next assembly elections has been announced, there is a flurry of activity around building caste coalitions. This is more intense in the most populous state,  Uttar Pradesh, which is the most important state in India in any election, in view of its large population estimated a

Maharashtra cities dominate Smart Cities Mission #Streets4People Challenge

In a competition organised by the Ministry of Housing and Urban Affairs (MoHUA), Pune, Pimpri-Chinchwad, Nagpur and Aurangabad from Maharashtra are among the 11 cities selected for scaling up their pilot projects and creating permanent public infrastructure. #Streets4People Challenge was org

CNC, Admiral R Hari Kumar condoles deaths of three navy personnel

The three Navy personnel who succumbed to injuries caused by an explosion on board Indian Navy`s destroyer ship INS Ranvir have been identified as Krishan Kumar MCPO (master petty chief officer)I, Surinder Kumar MCPO II & AK Singh MCPO II. In a condolence message, Admiral R Hari Kumar s

Two Indias: One for the billionaires, one struggling for minimum wages

Oxfam India has this week released ‘India Supplement 2022’ with deserving caption ‘inequality kills’. The supplement discusses India’s governance structures that promote the accumulation of wealth by a few, while failing to provide safety netsto the rest of the population. The

Aditya Thackeray launches 2 Oxygen cylinder recharge points

After the oxygen crisis faced during the second wave of Covid-19, the BrihanMumbai municipal corporation (BMC) has now set up its own medical oxygen cylinder recharge projects.   On Tuesday, guardian minister Aditya Thackeray launched two of the BMC’s new medical oxygen cylinders r

How inequality keeps rising amid pandemic – and is killing people

The world’s ten richest men more than doubled their fortunes from $700 billion to $1.5 trillion (at a rate of $15,000 per second or $1.3 billion a day) during the first two years of a pandemic while the incomes of 99 percent of humanity fall and over 160 million more people forced into poverty. A new

Visionary Talk: Farmer`s Agitation, Rakesh Tikait with Kailashnath Adhikari


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter