Following the subdued growth achieved in the previous year, the year 2013 can be best characterised by a gradual recovery for the print media industry. During FY2012-13, our economy registered a growth of only 5 per cent, as against 6.2 per cent in the earlier year. With regard to the media industry, this meant that companies have taken a very cautious approach towards their advertising budgets, which naturally affected advertisement revenues.
For Dainik Bhaskar Group, 2013 was a challenging yet exciting year as we fought very hard and successfully retained our leadership position as India’s largest print media company. We took this time to very closely monitor some very important aspects of our business to ensure that we maintain our brand equity and further improve our operating strengths. Measures such as cost control and streamlining of operations helped us register strong performance over the year.
During the year, we forayed into new regions that have potential for high growth, such as Maharashtra and Bihar. In Maharashtra, we launched our Akola and Amravati editions, taking our editions to seven in the region and 66 across India. We also look forward to our launch in Bihar, towards which we have made good progress over the last six months. We have also tied up with exclusive partners such as Harvard Business Review and Time magazine to cater to business news readers.
We are very closely studying the growth potential of Tier II and III towns across India. The existing potential of these markets continues to greatly excite us and we are confident of our abilities to avail these opportunities.
At the same time, we have been making very committed efforts towards a more sustainable environment and working to support our society and our surroundings.
Girish Agarwal is Non-Executive Director, Dainik Bhaskar Group.