HT targets ad revenue growth with calibrated pricing and push

HT Media is gearing up for a fresh strategy to revamp its advertising revenue, leveraging calibrated pricing actions while pushing for stronger digital offerings. As the company navigates the shift towards digital media, the focus on improving overall yields and strengthening its value proposition has been emphasised in the company's Annual Report for 2023-24.

The company clocked in an ad revenue of Rs 1070 crore for the year ended 31st March 2024. This was up from Rs 1064.8 crore in the previous year. The boost, as highlighted by Managing Director Shobhana Bhartia in the report, comes from overall economic growth, a growth in consumption, and the heightened political activity leading up to the national elections.

Both advertising and circulation maintained steady revenue, while cost rationalisation, especially in newsprint, along with efficient operational management, has enhanced profitability, as per the report. The advertising and sales promotion expense was Rs 124.54 crore for the year ended 31st March 2024, which was Rs 144.73 crore in FY 2022-23.

Recognizing the shift towards digital media and the resultant decline in print circulation, the company focused on intensifying subscription drives and implementing measures to retain and gain copies throughout FY 2024.

“Our persistent focus on the quality of our offerings, across exclusive news, in-depth reporting, and smart commentary, continues to strengthen our value proposition,” said Praveen Someshwar Managing Director and CEO, HT Media Ltd in the report.

With respect to radio, the business has demonstrated resilience amid challenging conditions, especially in Indian metro markets, achieving significant revenue growth and profitability expansion over the last year for HT. During the year, their keystone offering Fever FM unveiled its new brand identity and tagline, ‘Happening Hai’.

While pricing pressures persisted throughout the past year, their focus on scaling their events vertical and consistently driving audience-centric innovation yielded positive results.

As of now, the commonly identified risks for the media publication include shifts in consumer preferences towards digital offerings, evolving competitive landscapes with new advertising mediums, talent management challenges, geopolitical scenarios affecting newsprint costs and supply chains, and cyber security and data privacy concerns.

There is also a strategic focus on rebuilding advertising revenue through calibrated pricing actions to improve overall yields, while simultaneously providing customers with better value propositions through improved digital product offerings.

Going forward, the report stated, the print segment will continue to work towards bridging the gap between traditional journalism and modern consumption habits, thereby evolving to meet the needs of an evolving reader-base.

On the Radio front, with the Fever brand refresh there is an increased market relevance assisting it to better align with contemporary audience preferences and enhance appeal among young urban listeners.

"The Digital segment is poised to capitalise on its established positions in recruitment and learning solutions as well as in products and services of Mosaic, while also working to leverage the in