Mumbai: Infomedia India Ltd, a subsidiary of Television Eighteen India Ltd, is expected to launch a business magazine, called Entrepreneur, in collaboration with the US-based Entrepreneur Magazine Group (EMG) by end 2008 or early 2009, say people close to the discussions.
EMG publishes Entrepreneur monthly in the US focusing on small and medium enterprises, start-ups and entrepreneurs.
In India, these people say, the magazine will be positioned as a general business magazine and take on Business Today and Business World. It will include content from the US version.
Lakshmi Narasimhan, chief executive officer of Infomedia’s magazine publishing business, declined to comment.
TV18 has already announced plans to launch a business magazine in India in partnership with international business publisher Forbes Media, the publisher of Forbes. The magazine is likely to launch in October, according to some insiders.
Print ad revenues, according to some media specialists, are hovering around Rs 9,995 crore in 2008 with magazines accounting for about 10% of this annual revenue. Business magazines, however, account for only about 2% of the total print revenues. Business Today, Business World, Business India are among the veteran magazines in his niche.
“In the last few years, the business magazine space has not registered much growth,” notes Chandradeep Mitra, president of Mudra MAX, a unit of ad agency Mudra Group. “The entry of a new player could add energy and vitality to any category. Is there room for a new player? Sure, there is, because business news itself is becoming very complex, with new multinationals stepping in and categories opening up.”
“Business magazines especially have a huge amount of consumer engagement,” adds Shashi Sinha, CEO, Lodestar Universal.