India is now widely viewed as a bright spot in a sluggish global economic environment.The countrys GDP in FY 16 grew by a healthy 7.6% vis-a-vis 7.2% in the last fiscal.The economy also crossed the $2 trillion mark emerging as the fastest growing majoreconomy of the world. The economy during the year continued to consolidate the gains offiscal prudence and across-the-board reforms. Inflation was moderate rates declinedforeign direct investment surged and the current account deficit remained low.
India also improved its position on the ease of doing business ranking of the WorldBank which reaffirms global recognition of the countrys business-friendlyenvironment. Indias drive to adopt digital technologies across all walks of life isalso ushering in major transformation in the way businesses operate and approach theirtarget customers.
The Media and Entertainment industry in India grew by around 12.8% in CY 2015. Anexpanding economy rising literacy growing aspirations and increasing disposable incomehave meant more demand for all segments of the media. Newspapers and TV news channelscontinue to hold sway over the news domain. Yet in a country that is rapidly embracingsmart phones and the internet it is only to be expected that the digital media will makeits presence felt in terms of reach and as an advertising vehicle.
At HT Media we saw this trend coming some time back.
The last financial year saw the culmination of an important piece of our new mediastrategy the completion of a state-of-the-art newsroom and a significant upgradation ofour technology infrastructure. Apart from strengthening the standalone websites of ourthree news brands Hindustan Times Hindustan and Mint this also provides anopportunity to create new offerings that cater to new audience segments and leveragingcross-functional synergies. This we believe forms the perfect foil to our existingnon-media digital businesses and also our approach of making selective investments inother digital companies.
We also strengthened our radio platform. Our FM Radio station Fever entered Chennai byacquiring an existing FM Radio station. We also acquired 10 new frequencies in DelhiMumbai Hyderabad and 7 large towns of Uttar Pradesh during the recent FM Radio Phase IIIauctions. We have already launched our second radio stations in Delhi and Mumbai RadioNasha. More launches will follow.
Nor did we ignore our print business. Apart from the integrated newsroom which hashelped significantly improve efficiency and productivity of our editorial teams - andimplementation of a multipronged training programme to enhance content quality wecontinued with efforts to drive readership across all our publications throughinterventions on both product and marketing platforms.
THE BENEFITS ARE APPARENT IN THE NUMBERS
Hindustan Times (HT) retained its strong position in the English newspaper segmentnationally. HT was Delhi-NCRs most read newspaper while in Mumbai the newspaper wasplaced at No. 2.
In the markets where we have a presence the radio industry is growing at a CAGR of 7%.HTs radio segment grew by 18%. It has a revenue market share of 23% leadershipposition in Delhi Bengaluru and Kolkata and is the fastest growing radio station inMumbai.
RESPONSIBILITY TOWARDS COMMUNITY
At HT Media we try to align our business objectives with social responsibilities.Hindustan Times Paathshala is an initiative that supports and funds theeducation of underprivileged children. This initiative started in 2012 as the YouRead They Learn campaign and over the years has made a difference in the lives oftens of thousands of children. We also conduct several community outreach andsocio-economic development programmes. As one of Indias oldest media companies webelieve that good journalism has a strong social linkage.
THE WAY AHEAD
Going forward we aim to- strengthen our position across all platforms printdigital and radio; expand our footprint to new geographies and markets; and help ouradvertisers navigate an increasingly fragmented audience landscape by offering innovativesolutions.
Our consolidated annual revenue touched Rs 2655 crore during the year from Rs 2457crore in the previous year. This was a group effort. On behalf of the entire leadershipteam I would like to thank our employees for their remarkable contribution in theCompanys success. I also thank our shareholders for their co-operation and support.I appreciate the guidance provided by my colleagues on the Board without which thingswould not have been so smooth for us.
|Thanking you |
|SHOBHANA BHARTIA |
|Chairperson & Editorial Director |