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Pitch Madison Media Advertising Outlook 09 mid-term survey

Posted by prnext on September 6, 2009

Pitch Madison Media Advertising Outlook 09 mid-term survey released; predicts better times for the media industry

After seven years of fierce growth, the Rs 21,000-crore media and advertising industry experienced the first bout of negative growth during the first six months of 2009. According to the Mid-term Review of the Pitch Madison Media Advertising Outlook 2009, the industry together garnered just Rs 7,452 crore in the first half of 09, which is a whopping Rs 1,414 crore less than what it mopped up in the same period last year.

As per the Mid-term Review, while the worst affected was the print media which saw a massive 32 percent decline in its revenue mop-up, television saw a 19 percent drop, with cinema and outdoor getting hit heavily at 37 percent and 30 percent respectively. However, there was only a moderate 5 percent decline in radio revenue. In fact, the Internet media is only media format that recorded a growth during the first half logging in a 16 percent growth.

So, what do our numbers project for the next six months? Though the impact of a looming drought remains very alive, on the macro front there are many positive signs with the economy showing clear signs of pulling out of the morass. While all leading corporate house have reported better-than-expected profits in the April-June quarter, the latest IIP data came as the biggest surprise clipping at a stupendous 7.8 percent in June.

“All these lead us to believe that the next six months are going to be much better than the first six months. Our detailed forecast for the July-December period shows that while the media industry earned only Rs 7,452 crore in the first half, we estimate the industry to net Rs 12,325 crore in the second half. And this is a massive 65 percent jump over the first half,” said Madison Media chairman Sam Balsara releasing the mid-term review of the industry. Balsara, however, notes that “this jump will be driven by a combination of increase in ad rates and an increase in ad volumes.”

Anurag Batra, Chairman & Editor-in-chief, exchange4media Group said, “It seems the worst is over for the industry. It’s time the media industry got ready for the better times. But it will pay to remain sober in the months ahead.”

But, on an aggregate basis, even this massive increase in revenues in the July-December period will not pull the full year estimate out of the red. “Going by our revised numbers, we expect a negative growth of 5 percent for the full year, against a positive growth 2 percent we forecast in January. As a result, the industry is projected to close calendar year 2009 with Rs 19,777 crore against Rs 20,717 crore in 2008,” said exchange4media Group co-founder & editor Pitch magazine, Amit Agnihotri.

Pitch Madison Media Ad Outlook has recorded that for the past five years and until the third quarter of 2008, the advertising and media industry was growing at a furious pace, averaging around 17-18 percent year-on-year. For instance, in 2004 the industry grew by 11 percent, 15 percent in 2005, and a full 22 percent each in 2006 and 2007. Last year, it grew by a smart 17 percent.


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Reader’s Digest, US files for bankruptcy

Posted by prnext on September 6, 2009

The publisher of Reader’s Digest, the most popular US general interest magazine, has filed for bankruptcy protection with a plan to swap a portion of its debt for ownership of the company.

Reader’s Digest Association Inc, owned by the New York private equity firm Ripplewood Holdings since 2007, said that it has reached an agreement in principle with a majority of secured lenders to erase a portion of the USD 1.6 billion they hold in senior secured notes.

The planned filing, which does not include operations outside the United States, comes amid declining circulation, an industrywide advertising slump and large debts.

Reader’s Digest, the monthly magazine founded in 1922 as a collection of condensed articles from other publications, has been searching for a niche as the Internet upends the magazine industry’s traditional business models.

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Indian Broadcast Editors Association launched

Posted by prnext on September 6, 2009

The editors of all private news and current affairs broadcasters have come together for setting up of a body Broadcast Editors’ Association (BEA) to strengthen the values of objective and fair broadcast journalism and to protect and promote the freedom of expression.

The Association has five office bearers – Star News’ Shazi Zaman is the president of the BEA, while Times Now’s Arnab Goswami and NDTV’s Pankaj Pachauri are the vice-presidents. NK Singh of ETV is the general secretary, while Sudhir Chaudhary of Live India is the treasurer. Members of the executive committee are Ashutosh (IBN7), Vinay Tewari (CNN-IBN), Satish K Singh (Zee News), Ajit Anjum (News 24), Vinod Kapri (India TV), Sanjay Bragta (Sahara TV) and Pranjal Sharma (UTVi)

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Adfactors PR launches IPO Nurture

Posted by prnext on September 6, 2009

Adfactors PR recently launched IPO Nurture, an unique offering aimed at companies planning an Initial Public Offering (IPO) in the near to mid-term future.

As per the company statement, IPO Nurture is a comprehensive program designed to optimize value from the IPO process. The key elements of the program include enhancing corporate reputation, and outreach programs targeting the universe of financial intermediaries and opinion influencers. The program also includes a series of workshops and orientation programs to equip the management with skills to successfully navigate the communications challenges in the IPO process.

Announcing the launch, Madan Bahal, Managing Director, Adfactors PR, said, “IPO Nurture will be especially useful for promoters and managements aspiring to tap the capital market for the first time, irrespective of the size of the IPO. Companies often dilute value by approaching the market under-prepared in terms of the desired public profile and the ability of the management to face public scrutiny. IPO Nurture is also designed to support the company’s various strategic initiatives enroute to the IPO like private equity, M&A, restructuring and attracting competent partners and consultants on board.”

IPO Nurture will be driven by specially created teams drawn from diverse backgrounds, including corporate & financial communications, crisis communications and corporate training. The orientation workshops will also draw on the expertise of a panel of external consultants from various disciplines.

“The IPO is a transformational journey for the company. It is a rigorous process and requires careful planning and execution at all stages. We are confident that IPO Nurture will deliver immense value to companies in successfully managing this transformational journey,” says Arun Ohri, Director of the IPO Nurture program at Adfactors PR.

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IRS and NRS to be merged

Posted by prnext on September 6, 2009

Here is some good news for the PR and Advertising folks, now they will not have to track two readership surveys. After months of speculation, the boards of Media Research Users Council (MRUC),  the body set up by agencies, advertisers and media houses and the National Readership Studies Council (NRSC), a body constituted by the Indian Newspaper Society, Advertising Agencies Association of India and Audit Bureau of Circulation have decided to merge the Indian Readership Survey, or IRS, conducted by the former, and the National Readership Study or NRS, conducted by the latter.

The merged entity will be represented by 10 members from each side. However, there is no clarity on when the new research body will be established or the frequency of the readership survey. IRS is conducted twice a year. NRS hasn’t been conducted since 2006.

ACNielsen carried out the last edition of NRS while IRS is carried out by Hansa Research Group Pvt. Ltd (this contract expires in September).

NRSC chairman-Governing Council Sam Balsara and NRSC member-Governing Council Ashish Bagga have been given the mandate to interact with MRUC chairman-Governing Council G Krishnan and MRUC member – Board of Governors to discuss and finalise the modalities of the merger soon

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Marathi daily Deshdoot launches Ahmednagar edition

Posted by prnext on September 6, 2009

Deshdoot, a leading Marathi daily publication from North Mahasrashtra has launched its Ahmednagar edition. Deshdoot is currently printed from Nasik, Jalgaon, Dhule, and Nandurbar.

At present, Ahmednagar has Deshdoot, Lokmat, Sakaal, and four afternooners.

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South Asia FM is now Red FM

Posted by prnext on September 6, 2009

SFM has been rebranded as Red FM. All the 38 stations of SFM – which comprise 23 stations of South Asia FM (SAFL), 14 stations of Kal Radio and one station of Udaya FM – will undergo a change in identity. With this, the rebranded Red FM will have a total of 41 stations in its kitty, including Red FM’s existing stations in Mumbai, Delhi and Kolkata. The new brand identity of the radio venture was unveiled on August 14 in the North, East and West regions; and in the South, the new brand went on-air on August 1

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I-Next ties knot with Mid-Day

Posted by prnext on September 6, 2009

I-Next, the bilingual daily from the Jagran Prakashan Group has entered into an annual and renewable partnership with Mid-Day, the afternooner from Mid-Day Multimedia, to pick the latter’s entertainment content. As per the tie up, which officially enforces from August 15, Mid-Day will syndicate about 4-6 stories from its entertainment related content to i next on a day-to-day basis, in an monetary environment, which takes care of operational cost of the stories.

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Discovery launches three new channels in India

Posted by prnext on September 6, 2009

Discovery Networks Asia-Pacific will launch three new 24-hour channels in India – Discovery Science, Discovery Turbo and Discovery HD. Permission for the new channels was granted by the Information and Broadcasting Ministry on August 12, 2009.

The company plans to launch Discovery Science and Discovery Turbo on both analog and digital platforms, while Discovery HD will be launched only on the digital platform. All three channels are available in English. The new launches increase the breadth of Discovery’s television offering in India to six channels. Currently, Discovery broadcasts Discovery Channel, Discovery Travel & Living and Animal Planet.

Discovery Science is dedicated to making science programming accessible, relevant and entertaining. The channel’s programming genres will include exploration, cutting-edge discoveries, medical research, astronomy, space, genetics and human body.

Discovery Turbo is a new network offering entertaining and inspiring programming for people who love the adrenaline rush of all things motored. Its programming will include events (car, boat, bike shows), celebrity motorist profiles (Formula One, NASCAR), DIY, motoring trends and fashion.

Discovery HD is the only global high-definition television network offering factual and lifestyle entertainment. It brings audiences closer to their world, featuring programming on the wonders of the world including world culture, science, wildlife, natural history, travel and lifestyle.

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India TV to launch India TV Wiz

Posted by prnext on September 6, 2009

Rajat Sharma, chairman, Independent News Service (INS) and editor-in-chief, India TV will launch his second 24-hour TV channel, called India TV Wiz, a hybrid news channel in Hindi and English

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