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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
BENNETT & COLEMAN
Key takeaways
The future of English news. BCCL today has done enough work to consider itself
platform-agnostic and thus, it is not just an English print company but an English news
company. The future of English news has never looked better; English has always been
the aspiration of the population even in regional markets but today the means to achieve
the shift are also becoming more accessible with the education revolution.
Regional print strategy. BCCL does not really see the need for organic growth in the
regional print segment since it is a heavy cash-burn strategy; the shift to English in some
of the mini-metros (Pune) is already underway so BCCL will continue to focus on the
future (English). The language market will always be there but will be a play on large
volumes (population); the group will look at inorganic (acquisition/collaboration)
opportunities in this segment, if available at the right valuation.
Content focus. BCCL has been looked out as a marketing and distribution focus group (of
course) but the company has also invested in content. The focus within the group has
shifted considerably to the consumer: more important, not just in updating/informing the
consumer but also upgrading them. This has allowed brands like ET to remain relevant
despite many other players in the market. This will be the focus on Tier-II/III markets as
well: capture and upgrade the aspirational consumer.
New media business. The group has been one of the first in India to start investing in the
new/emerging media and BCCL remains committed to the same now that it has achieved
the pole position in some segments (digital). Arguably, the monetization has not been
very great so far but it is difficult to believe the situation will remain stagnant; improved
monetization models need to evolve. The group has 70% of its revenue coming from
legacy businesses and remaining 30% coming from emerging/embryonic businesses; this
is the mix the group is very comfortable with currently.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
BENNETT & COLEMAN
Key takeaways
The future of English news. BCCL today has done enough work to consider itself
platform-agnostic and thus, it is not just an English print company but an English news
company. The future of English news has never looked better; English has always been
the aspiration of the population even in regional markets but today the means to achieve
the shift are also becoming more accessible with the education revolution.
Regional print strategy. BCCL does not really see the need for organic growth in the
regional print segment since it is a heavy cash-burn strategy; the shift to English in some
of the mini-metros (Pune) is already underway so BCCL will continue to focus on the
future (English). The language market will always be there but will be a play on large
volumes (population); the group will look at inorganic (acquisition/collaboration)
opportunities in this segment, if available at the right valuation.
Content focus. BCCL has been looked out as a marketing and distribution focus group (of
course) but the company has also invested in content. The focus within the group has
shifted considerably to the consumer: more important, not just in updating/informing the
consumer but also upgrading them. This has allowed brands like ET to remain relevant
despite many other players in the market. This will be the focus on Tier-II/III markets as
well: capture and upgrade the aspirational consumer.
New media business. The group has been one of the first in India to start investing in the
new/emerging media and BCCL remains committed to the same now that it has achieved
the pole position in some segments (digital). Arguably, the monetization has not been
very great so far but it is difficult to believe the situation will remain stagnant; improved
monetization models need to evolve. The group has 70% of its revenue coming from
legacy businesses and remaining 30% coming from emerging/embryonic businesses; this
is the mix the group is very comfortable with currently.
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