Dainik Bhaskar Group has reported a 20% CAGR in advertising revenue over the past 3 years. What key strategies have driven this growth momentum in today’s digitally driven era?
There’s a bit of confusion in the market. As you mentioned, a ‘digitally driven era’ — I don’t agree with that. It’s actually a coexistence where digital, print, and TV all thrive together. Yes, digital is becoming big, no doubt, but at the same time, the relevance of print and television remains strong. All newspapers in India, not just us, have grown well in the last 2–3 years. What was lost during COVID has been recovered faster than expected. On the back of that, we’re growing quickly, and we expect this momentum to continue.
Dainik Bhaskar has consistently grown its revenue, even during times when others were struggling. What gives the group a competitive edge, especially in the heartland of India?
It's all about content. If a reader is spending 30–60 minutes daily on our newspapers, Dainik Bhaskar (Hindi), Divya Bhaskar (Gujarati), or Divya Marathi, it’s because of what we offer. We have nearly 3,000 full-time journalists and another 3,000 stringers. These 6,000 people work tirelessly to ensure accurate news is collected, written, and delivered. That’s the reason for our continued relevance and strength.
Ad revenue in print is seeing a significant uptick. Which sectors are leading this renewed momentum?
R: The beauty of print is that it surprises the reader every morning but doesn’t surprise the business model. The regular categories, automobile, jewellery, real estate, education, lifestyle continue to thrive. For example, automobiles and real estate are growing in strong double digits. Education is also seeing strong traction. A lot of this momentum is supported by state governments, especially in markets like Madhya Pradesh, Chhattisgarh, Rajasthan, Gujarat, Bihar, and Jharkhand giving a push to local economies.
By what percentage have you increased your ad rates compared to earlier?
There's been a lot of talk about print increasing rates by 10–25%, but I’d call it a ‘rate correction’. We hadn’t increased rates for nearly five years, especially since 2020 due to COVID. If you consider an annual inflation of 5–6%, we lost out on almost 30% over that period. So, what we’re doing now is catching up. I urge agencies and clients to support us in this necessary correction.
On that note, are regional newspapers now charging more for ad space than English-language papers?
That’s our dream. Let me give you some context. Markets like MP, Chhattisgarh, Rajasthan, Gujarat, Bihar, Jharkhand, Punjab, Haryana, Himachal, Chandigarh, and Maharashtra together, they contribute 40–55% of any product category’s total sales. If a company has a ?1,000 crore turnover in India, at least ?400–550 crore is coming from these regional markets. Ideally, we should be charging accordingly. But advertisers still tend to pay much more to English dailies in Delhi, Mumbai, and Bangalore. So yes, our rates are correcting, but we haven’t yet reached parity with English newspapers. It will happen, it must.
What percentage of your total revenue comes from print, considering Dainik Bhaskar's diversified media portfolio?
We operate across print, radio, and digital. About 90% of our revenue still comes from print, with the remaining 10% split between radio and digital.
There’s been a wave of innovation in print too. What kind of creative or unique formats are you exploring today?
Most of our innovation is reader-focused. We don’t do innovation for the sake of it. If the reader wants innovation, we’ll do everything possible to deliver. For example, in Jan–March 2025, we launched a major circulation growth drive. We deployed 900 surveyors for door-to-door outreach in multiple markets to convince non-readers to start again. That campaign helped us grow by 1.5 lakh copies in just 3 months. It has further motivated us to sustain this effort year-round. And when it comes to editorial innovation, I must salute our journalists. Be it COVID coverage, scam investigations, sting operations, or everyday reporting, the level of creativity and effort they bring is unmatched.
Dainik Bhaskar has a strong foothold in tier 2 and 3 markets across Hindi, Gujarati, and Marathi belts. How are you leveraging this to attract both traditional and emerging advertisers?
We are truly a local newspaper — tier 2, 3, 4, 5 — you name it. Our mission is to provide local news that no other platform can. With over 6,000 news-gathering personnel, our coverage is at least 10 times greater than any other medium. That hyper local depth gives us a unique edge.
More brands are returning to print, with creative formats making a splash. Why do you think brands are rediscovering the value of print now?
Every brand wants better response, and print delivers that. I would urge all CMOs and agencies to explore print much more seriously. In the '90s, marketers used to visit the ground, they lived the market. But over the past decade, many decisions are made remotely, just by looking at data. Data is important, but not everything. You must experience markets first hand. Take Bhopal and Indore, just 200 km apart, but completely different in consumer behaviour. You’ll only understand that nuance when you hit the ground. And we’re happy to help CMOs and agencies do that.
We've seen solid growth in recent quarters. Do you expect this momentum to continue? What will be the key drivers for print?
The momentum is strong. Even in April 2025, things are looking good. We just need to stay alert and agile. Fortunately, the market keeps us on our toes, and that’s a good thing.
As digital rises, is Dainik Bhaskar integrating its print and digital assets for advertisers?
Absolutely. Our readers start the day with the newspaper and stay connected through our app throughout the day. Our app has 20 million monthly active users, a clear sign of a strong print-plus-digital ecosystem.
Can you please walk us through your current cost structure?
In our total expenses, around 40% goes to newsprint. The next major component is salaries. We pay roughly ?450 crore annually to about 8,500 employees, and we’re proud of that. This year too, we’ll be giving salary hikes across the board. The remaining costs are operational. The good news is that newsprint prices are currently soft, so overall costs are under control.
What are your key focus areas going forward for the group?
Simple: keep doing what works well, learn constantly, and be quick to correct mistakes. Stay committed, stay humble, and don’t become complacent.
