Mid-Day on September 24 announced hike in advertising rates for its Delhi and Bangalore editions following a surge in circulation, as claimed by the paper. The new rates will come into effect from October 25, 2008.
Manajit Ghoshal, CEO, Mid-Day Infomedia Ltd, said, “In the print business, there are two steps towards monetisation – first you secure readers through editorial content, and then monetise that through advertising revenue. Mid-Day offers quality circulation in both Bangalore and Delhi, with loyal readers and high engagement indexes. Based on the increased circulation and subscriber profile that we have managed to secure, the invitation pricing of the editions has been changed.”
Neville Bastawalla, Head Marketing, Mid Day Infomedia Ltd, said, “Our increasing circulation demonstrates the relevance of our brand position – ‘Make Work Fun, Take a Mid-Day Break’ – which resonates strongly with our YUMPI audience. The editorial refinements, marketing and sales strategies that we have adopted have been bearing fruit in all cities.”
According to an official statement, base rates, front page and back page rates for the Delhi and Bangalore editions had been revised upwards of 70 per cent. Loadings for other premium positions are untouched, so the burden of the rate hike is not completely passed on to clients. The Pune edition is included in all bumper packages.
The official statement further said that Mid-Day’s Delhi and Bangalore editions had been offering invitation rates for advertising clients since the launch of these editions in their respective cities. A strong editorial focus on the young, urban, mobile, professionals of India (YUMPI), supported by internationally acclaimed marketing programmes and a 360-degree brand campaign, had resulted in Mid-Day garnering a devoted following of urban professionals, the statement claimed, adding, today, the publication’s Delhi circulation had grown to 75,000 copies, while Bangalore followed with 60,000 copies.
Mid-Day’s innovative distribution efforts include the placement of vending machines in offices, while award winning promotional events such as Bollywood Lunch Contest engage YUMPIs within the context of their working day. In addition, by virtue of reaching executives in major corporate offices in the middle of their work day, Mid-Day becomes the entertaining and informative break the YUMPI looks forward to. As a result, the publication’s advertiser base has grown with national brands like Ford, Union Bank of India, Tag Heur, ICL, Visa, and more signing on.