The Times of India Group has announced an increase in advertising rates for its newspaper brands. The Times Group publishes the country’s leading daily newspapers: The Times of India, The Economic Times, Navbharat Times, Maharashtra Times, Ei Samay and Vijay Karnataka, with a circulation reaching almost 8 million households every morning.
Talking about the newspaper market, Raj Jain, CEO, BCCL, said, “Print has been growing thanks to our advertisers’ confidence in the medium, and because print delivers. Projections from the major media agency networks too show the robustness of the medium and the growth expectation for the coming year. There are multiple reasons why print still delivers in this country where newspapers deliver over 250 million premium readers each day, and this is not restricted to just large cities. Growing aspirations in tier-I and tier-II cities are resulting in growth of English readership.
One, it is a strong morning habit. The day begins with print and therefore what better way for brands to launch a new product or promotion, make a splash about a new variant or packaging, create interest in their brand proposition through high impact and then leaving the rest of the day for the consumer to do his/her own discovery on and off the internet.
Second, print gives a brand instant awareness and impact. The recall of print advertising is much higher than ad campaigns on TV, given the highly fragmented nature of that medium. Premium audiences that our publications serve are notoriously active ad-avoiders across TV and digital, and we see cord cutting in premium households common now. The newspaper offers guaranteed visibility and therefore higher recall, which results in better ROI for the advertiser.”
Asked about the increase in ad rates, S Sivakumar, President Revenue, BCCL, said, “We could speak of all manner of cost based increases in our advertising prices; however, in our constant endeavour to provide cutting edge innovation and high quality output, we continue to make investments in machines, technology and innovation. Our innovation roadshows demonstrated the efficacy of print and based on the feedback received from Clients as well as our partners in ad agencies, we have made significant investments in our content, copies, distribution networks, technology etc., to deliver value to our readers and a high quality engaged audience to our advertisers. To enable us to continue to innovate we are taking a modest increase of 8–10 per cent in our advertisement prices. The returns to our partners from our enhanced and innovations would far outweigh the moderate increase.
Our belief is that in this day of ad avoidance and doubt about digital delivery, it is our brands that provide the credibility and trust that brands seek in platforms they use to reach premium audiences. In a world riddled with fake news today, more and more consumers are turning to newspapers to confirm their news. Only if it’s printed on paper, can it be trusted. Brands are leveraging the credibility of the medium to instil trust in their products.
The newspaper offers immense innovation opportunities to advertisers and is the only medium that can cater to all five senses. We at The Times Group have been at the forefront of innovations leading the way for the industry.”