17 March 2011

Print Media Sector Update - IRS 4Q2010 Analysis

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Key Takeaways
„ Rajasthan Patrika moves a rank higher in Top-10 order: The top-10 order in
the print media remained largely unchanged, with only  Daily Thanthi and
Rajasthan Patrika swapping places. Dainik Jagran maintained its lead albeit
on a flattish growth rate, while Hindustan closed the leadership gap at No.3
position with Dainik Bhaskar, growing smartly at 5.7% ror. With the exception
of Malyalam Manorama, all other top-5 dailies registered growth.
„ Pecking order remains unchanged for the English dailies: Four out of the top-
10 English dailies registered a decline in their AIR figures, with  DNA  and
Mumbai Mirror exhibiting sequential slides in their readership.  Deccan
Chronicle and The Economic Times (The ET) recorded flattish declines in their
readership. Times of India (ToI) retained its leadership with an AIR of 7.4mn.
Hindustan Times (HT) registered an AIR of 3.6mn, an increase of ~2% ror
over the 3Q survey and retaining its second position followed by The Hindu
with an AIR of 2.1mn (up 0.5% ror over the 3Q survey).
„ Hindustan registers maximum growth amongst top-5 Hindi dailies:  Among
the Hindi publications,  Dainik Jagran retained its No.1 position,  while
competitors  Dainik Bhaskar and  Hindustan reported an AIR of 14mn and
11.5mn, respectively.  Hindustan  emerged the top gainer in terms of
readership among the top-5 Hindi dailies.

Our Universe
„ Jagran Prakashan – Dainik Jagran, flagship Hindi daily of Jagran Prakashan,
posted flattish readership growth in 4Q survey over 3Q. It faired well in its
home market of Uttar Pradesh (UP) despite increased competition and
emerged strong with an increase in readership in Haryana, Jharkhand,
Madhya Pradesh (MP) and Punjab/Chandigarh.
„ DB Corp – Dainik Bhaskar, the flagship Hindi daily of DB Corp, continued its
strong growth momentum, increasing its readership by 3.7% ror over the 3Q
survey. It retained multi-state leadership in the states of MP, Haryana,
Chattisgarh and Punjab/Chandigarh. However, the daily lost substantial
ground in Haryana to  Dainik Jagran,  which grew smartly at 8.1% ror,
garnering ~1mn readers (1.4mn readers for Dainik Bhaskar).
„ HT Media – HT Media put up a good show across its publications, with
Hindustan, HT and Mint  recording ror rise in readership of 5.7%, 2.1% and
11.2%, respectively. Mint reported flat readership on absolute basis.

„ Deccan Chronicle  – Deccan Chronicle  put up a poor performance in terms of
readership across its key markets, registering a decline of 1% ror in overall AIR to
1.1mn over 3Q survey. The publication seems to have lost focus in Bangalore,
while the Chennai market registered heartening gains despite competition
from ToI.

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