The seventh edition of the Indian Magazine Congress organised by the Association of Indian Magazines (AIM) got underway in Mumbai on 14 February.
Welcoming delegates was AIM president Tarun Rai, CEO, WWM, who expanded on the theme ‘New directions. New opportunities.’
Quoting statistics on the growth of smart phones and tablet computers, he noted that while it took seven years for 20 million smart phones to be sold, tablets reached the figure in 20 months. With another data point, he explained the potential tablets held for magazine publishers and advertisers.
Rai said, “Readers have been found to spend 45 minutes on the print version of a magazine, versus 160 minutes on the tablet. Technology is providing newer opportunities; that is not to say that traditional magazines are not growing.” He also cited FIPP’s prediction that more magazines will be launched in 2013 than in 2012.
While ceding that magazines in India still account for a small share of ad revenues in India, he pointed to a Madison Media study that put this figure at around 4 per cent.
“In more mature magazine markets, this figure is far higher – 17 per cent in the US, 18 per cent in Germany, 15 per cent in France and 11 per cent in Italy. At 4 per cent of ad spend, share of magazines in India can only go up,” surmised Rai, setting the tone for the current edition of the Indian Magazine Congress.