Print Media Resilience and Revenue Shifts: What Indian Newspaper Society and Crisil Ratings Data Reveal

English Dailies and Overall Advertising Totals

Recent data released by the Indian Newspaper Society (INS) highlights distinct performance trajectories across different segments of the print media market. According to the report, advertising revenue for English dailies originating from accredited agencies rose 3.83 per cent to reach INR 3,590 crore compared to the prior year. Furthermore, the share of advertising business from accredited agencies allocated to English dailies increased to 43.9 per cent, up from 42.02 per cent a year earlier.

Despite the gains in English dailies, overall advertising business reported by INS members experienced a year-over-year decline. Total reported business stood at INR 14,774 crore in 2025, down from INR 15,316 crore in 2024. This contraction indicates that growth in specific premium inventory segments occurred alongside a reduction in the broader pool of collective print advertising transactions captured by the society.

• English dailies advertising revenue from accredited agencies: INR 3,590 crore (up 3.83 per cent)
• English dailies share of advertising business from accredited agencies: 43.9 per cent (compared to 42.02 per cent a year earlier)
• Overall INS member advertising business: INR 14,774 crore in 2025 (compared to INR 15,316 crore in 2024)

Vernacular Press Performance and Electoral Baselines

The broader decline in total INS member revenue is partly illuminated by the performance of Indian-language dailies. According to the INS data, Indian-language dailies recorded INR 4,545 crore in advertising revenue. This figure trails the INR 4,718 crore recorded by vernacular publications in 2024.

The report attributes the higher 2024 baseline for Indian-language dailies to election-related spending during the Lok Sabha elections. When evaluating regional print allocations, media planners must account for these cyclical political injections, which can distort year-over-year comparisons for non-English publications.

• Indian-language dailies advertising revenue in 2025: INR 4,545 crore
• Indian-language dailies advertising revenue in 2024: INR 4,718 crore

Publisher Diversification Into Non-Print Streams

Beyond traditional ad space transactions, newspaper publishers are actively altering their underlying business models. A study cited from Crisil Ratings indicates that non-print operations—encompassing digital channels, outdoor advertising, and organized events—are scaling up across major publishing groups.

The Crisil Ratings study projects that these non-print business lines could account for approximately a quarter of total revenue at major newspaper groups during the current fiscal year. This represents a structural shift from approximately 13 per cent in 2019, reflecting publisher responses to ongoing revenue pressures in traditional print.

• Projected non-print revenue share for major newspaper groups this fiscal: Around 25 per cent
• Historical non-print revenue share in 2019: About 13 per cent

Strategic Decision Implications and Analytical Limits

The provided evidence offers a concrete foundation for media buyers allocating budgets between premium English inventory and regional publications, while highlighting the diversification of publishing revenue. A brand manager can use the INS data to evaluate whether premium print placements align with audience reach goals, keeping in mind that vernacular shifts often reflect political advertising cycles rather than secular consumer trends alone.

However, the supplied report does not establish direct causation between print ad placements and downstream sales conversions, nor does it detail the specific profit margins associated with the newly expanded non-print revenue streams at major publishing houses. Marketers must therefore weigh the trade-off between securing premium print reach and tracking direct digital attribution. To test these dynamics, growth teams should track cost-per-engaged-reader alongside secondary digital conversions when executing hybrid print-digital campaigns.