With competitors hiking cover price and ad rates, The Statesman also undergoes price revision
Another major newspaper in the country has undergone price revision. Reliable sources at The Statesman informed exchange4media that it has “reduced the price from Rs 5 to Rs 3” with the intention of “expanding our reach.” The concluding quarter of FY 17 has witnessed several fluctuations in cover prices and advertisement rates.
In mid-February, Chennai-based newspaper The Hindu was re-launched at a cover price of Rs 10. Earlier, the newspaper was selling at Rs 8. Just three days back, Bennett Coleman hiked the advertising rates by 8–10 per cent for the various newspaper brands of The Times Group. The company announced that the increase was to enable the newspaper “to continue to innovate”, which in turn required them to heighten investments in “content, copies, distribution networks, technology, etc.”
If the word at The Statesman is to be trusted then one of the costliest English language dailies will follow suit by reducing its cover price. Besides The Hindu, ZMCL’s dna also sells at a cover price of Rs 10. Re-launched as a 32-pager in New Delhi on October 11, dna took an aggressive stance against competitors by urging readers to #SayNoToJunk. Now, the newspaper is all set to enjoy greater autonomy following the approval of “demerger of print media undertakings” of ZMCL by the company’s equity shareholders on March 27.
The past few months have resulted in the print industry going through several ups and downs. Besides the retrenchments at ABP Group and HT Media, Deccan Herald folded up its Delhi edition in December. On Tuesday, the Enforcement Directorate (ED) attached Rs 263 crore worth movable and immovable assets of Deccan Chronicle Holdings Limited (DCHL) in relation to a bank fraud case.
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