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Special Report: Asia - There's life in old media yet.
India's rapidly expanding print and TV industries are ripe for advertisers, Deborah Bonello says.
India, home to more than a billion people and 18 official languages, is enjoying a media boom. The TV and newspaper industries in the country are growing at a rate of 20 per cent a year, according to Ernst & Young - a growth it expects will continue for the next three to five years.
The conditions for the old-media explosion were put in place years ago, when the government lifted the ban on foreign direct investment. Foreign companies have since poured money into a market that is growing, while their own domestic industries decline.
Newspapers in India boast the kind of reach the UK's can only dream about. Print rose from 216 million to 222 million readers, according to the Indian National Readership Survey. A surge driven mainly by daily newspapers, which added a staggering 12.6 million readers over 12 months to grow to more than 203 million last year.
The statistics for TV viewing in India are equally as impressive. Last year, the medium grew 3.2 per cent to reach 112 million homes. Satellite TV has grown from 207 million individuals watching in an average week in 2005 to as many as 230 million in 2006.
Both TV and newspapers are booming, in part thanks to the growth of the Indian economy, which is expanding by 8 per cent a year. The population's disposable income is increasing, and with it the appetite to consume.
Chander Rai, the international chief executive of India Today, says: 'The rise in the middle class has brought with it changing lifestyles and a hunger for a better way of life. This has increased leisure activities and fuelled the growth of traditional media.'
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