Newspaper sales will continue to grow

The survey report by PricewaterhouseCoopers brings some cheer to the world of entertainment and media. It says that by 2026, the industry would grow by 8.8 percent CAGR, reaching a valuation of Rs. 4,30,401 cr.

Despite the growth of digitalisation, greater internet usage and rise of online alternatives to consumer entertainment, the traditional media, the newspaper industry is poised for an increase in revenue at 2.7 per cent CAGR from Rs 26,378 crore in 2021 to Rs 29,945 crore in 2026.

"It also predicts that India, which will beat both France and the UK to become the fifth-biggest newspaper market by 2026, will also be the only country to grow total newspaper print revenue consistently across the five-year forecast period. India will also be the only country in the world to grow daily print newspaper copy sales (by volume) during the forecast period. The increase at a 1.3 per cent CAGR – to an average of 139 million daily average print newspaper sales in 2026, one-third of the global daily total – will mean that India will overtake China as the biggest world market for print edition readership in 2025."

It also said," The Indian Media and Entertainment outlook for the next few years is quite unique. There is an exciting pace of growth of digital media and advertising led by the deeper penetration of Internet and mobile devices in our market. At the same time, traditional media will hold their steady growth rate over the next few years. We shall see a very different profile of media and entertainment-related businesses and revenue models emerging in the digital space once we have the rollout of 5G."

In terms of the music, radio and podcast segments of India's E&M industry, these are expected to grow at 9.8 per cent CAGR to reach a valuation of Rs 11,536 crore by 2026.

All this paints a rosy picture in the post pandemic period for entertainment and media houses. But here there is another issue which requires a serious thinking both by the executive and the judiciary. Of late incidents of people filing cases in courts against some news reports based on press conferences either by alleged victims or even reports based on basis of police press conferences had increased. Not jut that, the political executive in power whether it be at centre or in states has been resorting to filing cases against media. This kind of intimidation needs to stop.

The media should verify the facts, the legal notices say. But then one should know that if the report is based on a press conference by police regarding rape case or drug case one cannot expect the media to probe deep into it and then file a report. Media houses cannot function like that. They file reports based on what the authorities had stated. If it is proved wrong later, even that would be carried as a follow up story.

What is more is that if media had reported a case based on what the police officials had stated and if the accused gets acquitted, they send a legal notice to all media houses saying that the media indulged in false news as his client has been acquitted by Hon'ble court and this news has damaged his clients image.

Unless the political executive goes in for major policy decisions and amend laws if necessary, gagging the media voice cannot be stopped. The question is are they ready for it?