By BS Reporter
West Bengal’s print media industry is set to post a whopping 48 per cent growth in the next three years.
According to a report by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Deloitte on the media and entertainment scenario in East India, the total print media market is set to cross Rs 1450 crore, from the current Rs 980 crore, by 2016.
“The industry will grow at a CAGR of more than 10 per cent annually, in line with the average national growth. However, the figures are very encouraging as the global print media growth in negative. Moreover, with the introduction of new players, the industry here is becoming hyper active with more focus on entertainment packages,” said Sandip Biswas, Director, Deloitte Touche Tohmatsu India.
The region recently saw a high-profile media war between through the launch of its tabloid Ebela by ABP and Ei Samay by Bennett, Coleman and Co ( BCCL), the publisher of The Times of India. According to the report, the industry is currently looking to increase penetration in Tier 2 and 3 cities to attract more advertising revenues.
“For vernacular media in Bengal, advertisement revenue is 75 per cent and 25 per cent, while it is 90 per cent and 10 per cent for English media in the state,” Biswas added.