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In developing countries, newspapers are booming, with circulation increasing in some cases in the double digits, despite the fact that the medium faces near-constant predictions of doom in the U.S. and Europe.
Rising literacy rates and an increase in disposable income are helping boost newspaper readership. “Anyone who can read or write is still looked at with a bit of awe [in many markets in India.] When people first learn how to read, they want to let people know, and the first thing you want to do is be seen to be reading a newspaper,” says Rajesh Kalra, chief editor of Times Internet, the internet arm of the Times Group (via The New York Times).
Time’s Group’s The Times of India has a circulation that has grown more than 10 percent in a year to 3.5 million. In India, one of the fastest growing newspaper markets, the number of daily newspapers has grown from 185 in 2005 to 287 in 2006. The literacy rate is on the rise, as well.
Global newspaper advertising spending is expected to increase from $125 billion in 2007 to $130 billion in 2010, per ZenithOptimedia, due to growth in India and other emerging markets.
John Ridding, chief executive of The Financial Times of London agrees that there is a strong and growing demand from these markets for strong industry and business analysis, which is why the paper launched a Middle East edition, based in Abu Dhabi, in April. Ridding said The Financial Times is also working on an “exciting project” that has to do with India, but he would not give any details.
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