PINC maintains buy on DB Corp, Jagran, HT Media, HMVL

PINC Research has come out with its report on media sector. The research firm remains optimistic on the Print media sector and expects regional players to continue to register double digit ad revenue growth.

October 11, 2011 / 16:02 IST

PINC Research has come out with its report on media sector. The research firm remains optimistic on the Print media sector and expects regional players to continue to register double digit ad revenue growth.

Top 10 Dailies performance: Q2 2011 saw the top ten dailies witness a rise in their readership profile, with Hindustan registering a tremendous growth of 1.5%QoQ (18%YoY) in its readership. Dainik Jagran continues to maintain its leadership position with 16.3mn readers, 3% growth QoQ (3%YoY), increasing faster than the other dailies followed by Dainik Bhaskar growing strongly at 1.1%QoQ (6.5%YoY) reaching 14.2mn readers. Of the top ten, only Rajasthan Patrika and Matrubhumi saw a decline in readership over the last quarter and Daily Thanthi declined 1.5%YoY, the rest continued to increase their readership. Average Issue Readership (AIR) for Amar Ujala and Times of India(TOI) rose 5.6% and 5.4%YoY. Total AIR of top 10 dailies witnessed a rise of 1.1%QoQ and 4.7%YoY.

Performance of our print media coverage universe: DB Corp (DB): Dainik Bhaskar continues to hold its No.2 position growing at 1.1%QoQ(6.5%YoY) with dominance in key markets of MP(60% market share), Haryana, Chhattisgarh, Chandigarh and gives close competition to Rajasthan Patrika in Rajasthan. In MP, DB is far ahead of its peers with AIR of 3.8mn, 2.6mn more than the No.2 daily, Nai Dunia. Also, Divya Bhaskar in Gujarat with AIR of 3.5mn maintains its No.2 position consistently.

Jagran Prakashan(JPL): Dainik Jagran added a total of 0.5mn readers in Q2, 3% increase QoQ as well as YoY, leading in UP market (largest print market-11% market share) with 37% market share, reaching 9mn AIR. Sequentially it has grown fastest amongst the top 10 dailies. It also witnessed an increase in readership in markets of Bihar, Jharkhand, Haryana, Punjab and Uttaranchal.

Hindustan Media Ventures(HMVL): The AIR of Hindustan reached 12mn , a 1.5%QoQ(18%YoY) rise, at the third position in terms of readership. It continues to reign in Bihar and Jharkhand with 4.8mn and 1.8mn AIR. Its growth was mainly contributed by increased readership in UP(3.4%QoQ, 30%YoY) and Bihar(2.3%QoQ, 13%YoY).