Posted in Marketing & Strategy Articles, Total Reads: 958
, Published on 04 February 2017
Today, many thinks that traditional printed media are going to die out because of fast progress in technology. But I don’t completely agree with this suggestion. Modern technology has many advantages and disadvantages that influence audience’s lives. There is no doubt that digital media is growing faster and much faster then print media But the question is that in terms of what? Answer is very simple that is in terms of advertisement not information.If we look at statistics provided by FICCI - KPMG in the image below they have compared both media in terms advertising revenues.
So statistics indicate that the digital media is growing but it does not mean that print media losing its ground. Because print media is more focused on providing information to the people and at same time also have some advertisement. I am not saying that digital media does not provide the information but there are so much distractions and advertisements which is not in the case of print media and also in the country like India a newspaper is always seen as a more reliable source of information over any other medium.
Print media are wide spread around the world since they were published first. Newspaper is still a major source of information for those living in rural areas.
Traditional paid-model newspaper subscription readership is alive and well in the sub-continent. Not only that – it is growing. “A recent study from the FICCI [Federation of Indian Chambers of Commerce & Industry] suggested that the value of the Indian newspaper industry has grown by two-thirds in the past six years,” says consultancy, EY. “In 2005, the total industry was worth $2.64 billion (U.S. dollars). This rose to$4.37 billion in 2010.”
Growth for television advertising is projected at a CAGR of 15% between 2015 and 2020, while print media is expected to grow at 8.6%, according to a report by consulting firm KPMG and lobby group Ficci (Federation of Indian Chambers of Commerce and Industry).
While its true that online and social media can be powerful advertising tools there is still a valuable place for offline promotion.
When we look online or read online our reactions are very instant most of the time . We are bombarded with so much advertising and corporate messages that we have become trained at phasing out and ignoring the advertising and focusing only on the things we want to look at. This is not in the case of offline medium. We sit at station platforms, ride the bus, stare out of bus window or train window, look at the same advertisement over and over again. So both media can be used to supplement each other thereby achieving a value greater than the sum of their parts.
"There is certainly no sign of a news crisis in India, now the world's fastest-growing newspaper market. Between 2005 and 2009 the number of paid-for daily newspapers in the country increased by 44% to 2,700 and the total number of newspapers rose by 23% to more than 74,000”, according to the WAN. (World Association of Newspapers).
The role of print is shifting from one of consuming news to one of broader analysis of the news and events that require more than a click-bait headline to understand. In many ways this is a reaction to the ways that screens are very hard on our long term attention span, as you can see in the fact that e books are already declining in market share as a technology that has really only been mainstream for less than ten years.Book sales in units not only increased from 2014 to 2015 by 2.4% by rose again from 2015 to 2016 by 2.8%. More people are actually buying paper books though the places that they are buying them from are also changing.
So the question arise WHY IS PRINT STILL RELEVENT?
Because this is where you gain in depth information. That's why reading is very important and print is a quite medium no distraction, no extra advertisement, direct connection to the people and local stories.
In the recent U.S presidential election, many online surveys conducted by various agencies most of them are digital was showing that Hillary Clinton will easily defeat Donald Trump.
But after announcement, Results were 180 degree reversed and Donald Trump defeated Hillary Clinton. So question arise How did the digital media get it so wrong? And simplest answer to the question is there were no direct connection between media and people.
There is always rush towards things that are new. In 1950 when radio came into the picture there were speculation that print will die, then in 1970 when TV came into the picture there were speculation that radio will die but none of that happened. In-fact different media plays different roles in our life. It is not like that if you have digital media then there is no need of print media or vice versa. The fact of the matter is both these media are huge and growing.
This article has been authored by Ranjan Tiwari from KJSIMSR
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