Bucking the slowdown trends, Mint is set to capture the Eastern market. The business paper from the HT Media stable is set to launch in Kolkata from May 25. Mint is planning to follow this launch with a Chennai launch soon. It may be noted that Mint has emerged as the fastest growing English daily as per the IRS 2009 R1 data.
The paper will be priced at Rs 3 in the Kolkata market as well. The editorial team remains the same with R Sukumar heading the Kolkata edition as well, though there will be an addition from the Kolkata market too.
Commenting on the IRS 2009 R1 results, Vivek Khanna, Business Head, Mint, said, “Mint has been the fastest growing English daily and has grown 26 percent in Delhi and Mumbai and all India. The AIR of Mint for IRS 2009 R1 has touched the 172-mark in Delhi and Mumbai as against 137 last year, for all India, the IRS 2009 R1 results were 175 as against last year’s 139.”
Khanna further said, “Any other business daily has shown a growth of 3-4 percent, and if you look at Economic Times Delhi and Mumbai, it has declined by 4 percent. Delhi and Mumbai are the two biggest markets and that is where we have picked up. In Bangalore, we have just completed a year and I guess the pick-up will happen next year. What this also indicated is that we have a share of 31 percent among business dallies in Delhi and Mumbai, and that too in just three years of launch.”
On whether the launch of the facsimile edition of Wall Street Journal would affect the readership of Mint in any way, Khanna replied, “No. In just two years Mint has generated a very loyal set of readers. These readers look at the WSJ columns in Mint, but also look at India-specific news which is analysed, well written, and bring clarity, which is why we had brought this paper to bring clarity to the complex business reporting that used to exist. We have built a loyal readership, so I don’t think it will affect our readership. Moreover, WSJ will target a completely different set of audience.”
Mint is soon going to reach its premium audiences nationally.
On the marketing initiatives, a senior official from Mint said, “There will be activities on visibility and awareness drive. We will use our own papers and radio in Kolkata, Hindustan Times and Fever 104. There will be activities and awareness through outdoor and print as well.”
Mint had launched in February 2007 and is currently available in Delhi, Mumbai, Bangalore, Chandigarh and Pune. With editions launching in Kolkata and Chennai soon, Mint will join the league of business dailies, which have been present in the market for decades.