After almost two years of Covid-induced shortfall, advertising is in full swing again in Indian newspapers. Dainik Bhaskar is among the many publications that have shown a significant recovery in 2022, and expect to continue the momentum in 2023.
Dainik Bhaskar’s total revenue rose by 21% to Rs 5,461 million in the quarter ending September 30, 2022, as against Rs 4,513 million in the corresponding quarter in the previous year. Its net profit grew 153% to Rs 798 million in H1 FY2023, as against Rs 315 million in the previous year’s H1, after considering a forex loss of Rs 48 million.
Speaking to BestMediaInfo.com about the recovery, Sanjay Joshi, Chief Business Officer of Dainik Bhaskar Group, said, “2022 has been a revival year for Print overall. Advertisers who had curtailed investing have started coming back on the back of overall improved demand and business sentiment. We have especially benefited from this bounce back on the back of our strength in editorial and our dominant reach in the most promising markets of India.”
“Our unbiased and strong editorial coverage has ensured that the reader sees us as their most reliable and credible source of news. This is reflected in the strong recoveries we have seen in circulation numbers across markets. This is giving confidence to advertisers and we will be surpassing our pre-Covid revenues with impressive growth next year,” added Joshi.
Talking about what kind of brands are investing in their newspapers, Joshi said, “While most of the advertisers have returned, we see limited participation from automobiles given their inventory and delivery issues due to the continued chip problem. In addition, we see many new categories emerging like digital companies, technology companies and ed tech which are using print to build their brand and increase their reach and subscriber base.”
Return of brand-building campaigns
According to Joshi, brands relied mostly on performance marketing rather than brand-building campaigns for the past two years. However, advertisers have returned to investing towards brand-building campaigns which have in turn helped publications.
“The last couple of years have been driven by performance marketing investments (discount sales, offers etc.) for quite a few brands, however, we see a return to investing in brand-building advertising. Performance marketing ultimately draws on the brand that has been built in the past and the brand needs to be replenished. Traditional categories like real estate, education, FMCG, jewellery and lifestyle are making a good comeback on the back of consumption revival and improved demand. There has also been an increase in on-ground activation with the easing of restrictions after the pandemic.”
“For the upcoming year, we are recommending advertisers to bring back focus on brand building and replenishment as they continue to invest heavily in performance marketing,” added Joshi.
On a concluding note, he said, “Newspaper offers excellent brand-building performance vis-a-vis other media. With the need to retain customers in the times ahead, we see advertisers putting in good investments in print due to its higher impact and retention with the readers.”