Financial Chronicle has a date with the National Capital on April 14, 2009. Priced at Rs 2, the financial daily is entering the Delhi market to ‘make a difference’. In a market already crowded with quite a few established players, is there space for more? exchange4media poses this question to a few media players.
Shubhrangshu Roy, COO, Financial Chronicle, asserted, “We are here to make a difference and earn money. The times are tough and in this situation we do not know who all will survive. We are a strong company financially and have done well in the last one year of our launch. We have achieved all our milestones and are here in Delhi as promised and will make a difference.”
On how the advertisers are reacting to the launch, Roy said, “We’ve had great support right from the beginning and have had a fair amount of goodwill from them. We’ve had regular advertisers advertise on our paper and they are happy about us entering the Delhi market.”
Commenting on if there is space for a new entrant in the market, Anita Nayyar, CEO, MPG Asia Pacific, said, “I do believe that this is not the best of times to enter the market. Especially, when the number two and three business papers are struggling – Business Standard is struggling; Mint, though a very good product, to my knowledge it is struggling. I am sure the Chronicle team has entered the market after thorough research, but I see no point in launching when the number 2 and 3 are finding it tough at this point in time.”
On similar lines, Chirantan Chandran, Partner Client Leadership, Mindshare, Delhi, said, “I don’t know how much advertising the paper will attract as the times are bad for the advertising world. Otherwise at this time there is a lot of interest in the economy as people want to be upbeat and prepared for the future and want to understand what is happening in the country’s economy. So, the readership for the financial papers has increased. If the content of the paper is good, I think they will be able to get good numbers.”
Financial Chronicle is already present in Bangalore, Chennai, Hyderabad and Mumbai. The paper is published five days a week, featuring news and analysis on personal finance, stock markets, company news, brand positioning and government policy, etc. The daily has a tie-up with International Herald Tribune, under which it publishes an IHT section titled ‘World Business’, comprising four pages.
It is understood that a copy of the New Delhi edition of Financial Chronicle would be given free of cost for the one week preceding its launch in the Capital. The circulation of the paper could not be ascertained at the time of filling the report.
It may be recalled that Deccan Chronicle Holdings Ltd, publisher of English daily Deccan Chronicle, had launched its business daily, Financial Chronicle, in Chennai and Hyderabad on April 16, 2008. The combined print run for the two editions on opening day was around 70,000 copies.