Mid-Day Multimedia and MaXposure Media Group India (publishers of ‘and’ magazine) have entered into a 50:50 joint venture to launch a culture and lifestyle monthly magazine, ‘Beat’, in Delhi. ‘Beat’ will be available free to all Mid-Day subscribers every month, and will be available at Rs 10 separately on newsstands through the month.
This monthly magazine is set to hit newsstands in Delhi this December. ‘Beat’ will subsequently launch in Mumbai, Pune and Bangalore, where Mid-Day already has established editions.
Speaking on the partnership venture, Vikas Johari, Managing Director, MaXposure, said, “We are delighted to partner with Mid-Day Multimedia. This venture gives us a tremendous opportunity to reach the elusive but coveted audience of urban professionals that comprises Mid-Day’s reader base in four major cities.”
Manajit Ghoshal, CEO, Mid-Day Infomedia, said, “Locally relevant, lifestyle focussed information is a major passion area for urban professionals. Mid-Day has the unique advantage of reaching this audience in the afternoon hours, where they are looking at taking a break from their otherwise stressful day. ‘Beat’ is the perfect value addition for our readers, as well as perfect example of the initiatives that keep our engagement quotient with this audience so high.”
Recognising India as a dynamic market with a huge potential, Prakash Johari, CEO, MaXposure, added, “‘Beat’ will break conventions by bringing ‘lifestyle’ to a pedestal. MaXposure has established itself in the niche luxury lifestyle market. By presenting a city-based lifestyle magazine at a modest price of Rs 10, ‘Beat’ will bring about a change in perception, serving the lifestyle needs of the masses.”
“Keeping India’s retail boom and the increasing spending power of the middle class in mind, this unique initiative will merge the newspaper and tabloid format with a glossy magazine’s layout, to present a city magazine for the young urban professionals like none other,” he added.
Targeted at the young go-getters with ample of disposable income, ‘Beat’ will be an interactive cultural supplement, guiding the young readers-on-the-go on what to do and where. By the end of 2009, the business will have expanded operationally into four territories, adapting itself towards a weekly format.