Maheshwar Peri, publisher, Outlook and president, AIM kicked off the fourth edition of the India Magazine Congress. He spoke about the recent move by the government to allow 26% FDI in news and current affairs.
He said that the AIM members should discuss with the government to have more liberalisation in policies. Peri also said that in the magazine business in India, capital investment has remained safe even though the returns on investment are uncertain.
During the panel discussion on the role of magazines in building a brand, NP Satyamurthy, joint president, Lintas Media Group said that even though visual appeal is one of the advantages that magazines have, but web is catching up fast. According to Sam Balsara, chairman, Madison, studies across US and UK prove that advertisements in a magazine are more credible. Shashi Sinha, CEO, Lodestar Universal was of the opinion that magazines bring in community segments.
Mukesh Jain, associate director, transaction advisory services, Ernst & Young, observed that regional market still rules. While Hindi magazines have 44% market share, English magazines have 21% market share/