The article gives some basic information on Media Business In India. The last five years have seen an incredible upsurge of media business in India, with the trend continuing to increase in the advent of information technology. The media business ranges from advertising, publishing, broadcast as well as the internet. This market is largely dominated by small players although international conglomerates have evinced interest in establishing a foothold in this industry that is showing encouraging prospects.
The India Media business has in this century become a mainstay of this country’s economy. To elaborate this more clearly, three broadsheet newspapers are expected to be launched this year alone in Bombay. The Hindustan Times is also expected to appear in Bombay. Plans are also afoot for The Times to launch a tabloid that will sell by the name of Bombay Mirror.
Advertising spend by many companies has boomed quite rapidly and opening doors to small advertising agencies amid stiff competition from the big giants that hold key accounts for most of the multinationals, small internet marketing companies like yxymedia have moved into the market, making it look more reliable and competitive. This has been made possible by the ecstatic advertisers that are spending megabucks to either increase or retain their market share. These companies include cellular operators, carmakers, banks, FMCG companies, electronics manufacturers, and many others.
The vibrant Indian company has also been a major contributor to the vibrant media industry, although opportunities are not fully exhausted. The trend saw a Chinese Star TV launch the Star TV channel in India and yet other satellite and cable TV that have shown interest in the flourishing media industry. The industry is, according to reports, expected to grow at a rate of 12% per year in the next few years and be able to attain a global coverage of 6.7%. There are four new TV channels that await launch, adding to the existing 18 and this is a figure that as twice as it was a year ago.
With so many players claiming stake to the industry, government statistics show that there are now numerous newspapers in new stands across India with a whooping 55000 of them publishing in two dozen languages and close to 2000 running as dailies. The major players in the newspaper industry such as The Times have also accelerated their coverage and now have 1.3 million readers who buy its eight publications.
Advertising spend on news channels has increased significantly and is currently standing at a staggering $160 million, an incredible shoot up from $10 million barely four years ago. It now stands as the highest in the entire Asia-Pacific. This was a 28% increase way ahead of other regional markets such as China, which recorded 13%, Philippines 9% and Indonesia 8%.
There are however many Indians who are a bit skeptical about this unusual boom. There are those who are of the opinion that many media outlets devote much time and space to the antics of Bollywood and celebrity hood while giving a blind eye to stories such as the country’s transition, education, infrastructure and the problems of corruption that continue to plague this Asian giant. Others posit that a cult of mediocrity has found its way in newsrooms, something that does not auger well with those clamoring for serious news.