With the introduction of more international travel magazines in India, competition in the particular segment will soon reach to new levels. What do you have to say about the change in market dynamics?
The runaway success of Lonely Planet Magazine in India is bound to encourage other international titles to enter the country. I welcome these new titles as they will create more interest in the category. And I am confident that none of them are as comprehensive and credible as Lonely Planet Magazine is.
India is a price sensitive market. Do you have any specific strategy to deal with it?
The feedback that we have got from our readers is that they find immense value in Lonely Planet Magazine. A price of Rs.100 seems appropriate. I believe compared to the other travel magazines, which are also priced at Rs.100, we offer much more information and more than 50 percent more pages.
But the magazine still is an extremely niche magazine. Would you perchance plan to broaden this focus ever in the future?
Travel is not niche and neither is our magazine. Every month our circulation numbers are increasing tremendously. The rate at which the travel market and travelers are growing, the magazine has the potential of being one of the largest English language monthlies.
The magazine market in India is expected to grow at 12% this year. What is the market share you are targeting?
While market share data is not available, we believe we are increasing our market share. In the last few years we have gone from being a two consumer magazine company to ten titles now. We are now in many categories including women, fashion, celebrity, auto, interiors, film and now travel. The pace of our launches is quickening. We are launching a top end design and architecture magazine called Home Trends. This is a magazine based out of New Zealand and has 11 international editions. We will be launching another magazine targeting young adults in October this year. This will be followed by a very big launch in January next year. All these launches and the cementing of our existing titles ensures that we garner a larger market share as we grow.
The runaway success of Lonely Planet Magazine in India is bound to encourage other international titles to enter the country. I welcome these new titles as they will create more interest in the category. And I am confident that none of them are as comprehensive and credible as Lonely Planet Magazine is.
India is a price sensitive market. Do you have any specific strategy to deal with it?
The feedback that we have got from our readers is that they find immense value in Lonely Planet Magazine. A price of Rs.100 seems appropriate. I believe compared to the other travel magazines, which are also priced at Rs.100, we offer much more information and more than 50 percent more pages.
But the magazine still is an extremely niche magazine. Would you perchance plan to broaden this focus ever in the future?
Travel is not niche and neither is our magazine. Every month our circulation numbers are increasing tremendously. The rate at which the travel market and travelers are growing, the magazine has the potential of being one of the largest English language monthlies.
The magazine market in India is expected to grow at 12% this year. What is the market share you are targeting?
While market share data is not available, we believe we are increasing our market share. In the last few years we have gone from being a two consumer magazine company to ten titles now. We are now in many categories including women, fashion, celebrity, auto, interiors, film and now travel. The pace of our launches is quickening. We are launching a top end design and architecture magazine called Home Trends. This is a magazine based out of New Zealand and has 11 international editions. We will be launching another magazine targeting young adults in October this year. This will be followed by a very big launch in January next year. All these launches and the cementing of our existing titles ensures that we garner a larger market share as we grow.
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Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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