Print ad business rose 11% in 2023: INS

The Indian Newspaper Society (INS) has reported a total advertising business of Rs. 16,472.40 crore for the calendar year 2023 for its member publications, as against Rs. 14,892.34 crore in 2022, an increase of 10.6%.

As per INS’s 85th annual report for the year 2023-24, amongst the various sources of advertising revenue, accredited advertising agencies continued to dominate the advertising business of INS members.

The accredited advertising agencies contributed Rs 7993 crore of advertising funds in the calendar year 2023, which was 3.75% higher than 2022.

Meanwhile, publications received Rs 2782 crore of revenue from non-accredited agencies in 2023. This number stood at Rs 2612 crore in 2022, marking a 6.75% increase in 2023.

Direct ad revenue was about Rs 2835 crore for the year 2023, marking a 13.85% increase from the previous year.

Railways, state government, and public sector undertaking collectively gave ad revenue of Rs 1876 crore. Out of this, the state government ad revenue which contributed Rs 1821.14 crore saw the highest increase, by 54.32% in 2023.

Tender advertisements received, which accounted for Rs 635 crore in 2023, were 15.64% higher than 2022 numbers.

The report also stated that the print media industry in India has maintained its relevance in an ever-evolving media ecosystem. Despite the rapid growth of other media, print continues to be a trusted and an influential medium for a significant portion of the population.

“With its linguistic diversity, it connects with readers on a more personal and cultural level. The continued demand for printed newspapers/magazines is driven by the public's trust in the print and the tradition of reading, which is deeply ingrained in the Indian society,” the report said.

However, the report also states challenges that the industry has been facing these past years due to declining advertising revenue, increasing production costs, depreciation of the Indian rupee, and levy of customs duty on newsprint, which have posed significant hurdles and pressure on the Indian publishers.