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Advertising formed a major source of revenues for these publications. The advertising expenditure by corporates was heavily skewed towards print media and television (Refer Exhibit III for advertising spend split in Indian business media). The business segment generated the highest advertising revenues in the publication industry (Refer Table I).
The only daily to record a substantial growth was HBL. It grew by 8.1%, bringing the circulation up from 43,269 in 2002 to 46,762 copies in 2003. Commenting on these trends, Manish Porwal (Porwal), General Manager, Starcom8 said, "It is clear that these dailies have shown a definite decline and that HBL is the only daily recording a growth both in readership and circulation...
5] SEC refers to Socio-Economic Class. It is a consumer segmentation term typically used for consumer-based research. The segments are categorized on the basis of occupation and education of the chief wage earner of the household. There are normally eight SECs, A1 being the uppermost class.
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