Research Claims Regional Press Is Set For Revenue Boost
The regional newspaper industry is in a strong position to maintain and grow profitability over the longer term, according to a new report published by Mintel this week.
The Regional Newspapers report claims that the industry is in great shape due to its local focus, which allows it to provide news and information that is not easily found elsewhere in such detail.
According to the research, 44% of all regional press titles in ABC membership increased sales during the period January-June 2003 compared to the previous six months, despite a continuing policy of stripping out bulk sales and discounted copies in circulation figures.
Meanwhile, advertising revenue has increased by 20% between 1998 and 2002 and regional press market share has increased from 78% to 81% during the same period.
The study claims the key strength of the regional press is derived from the industry’s close relationship with its readers. It is also believed that the growing online presence of regional titles has widened brand appeal further.
The report examines readership of the regional press and concludes that younger readers are more likely to refer to their local or regional newspaper for sports news, jobs information and adverts, whilst older people are more interested in local community stories and politics.
Commenting on the findings, James McCoy, senior consultant of consumer goods from Mintel, said: “In a world where readers are able to obtain national and international news from a variety of sources such as the Internet or digital TV, the importance of local or regional news is growing, providing readers the opportunity to feel part of their local community.”
He continued: “Furthermore, Mintel believes that national and even international news could be adapted to a regional/local format, with readers interested in how such developments will affect their own community. After all, every national or international news story is also a local story somewhere.”
Lynne Anderson, communications director of the Newspaper Society, added: “It is always gratifying when an independent research company like Mintel revises its forecasts and recognises the industry’s unique strengths and its potential for further growth. This report has important messages for publishers and advertisers alike.”
The popularity of regional newspapers was also championed by research from the Target Group Index and the Newspaper Society, which claimed that local titles are now read by almost 85% of the UK’s population (see Study Shows Increasing Popularity Of Regional Newspapers).
Newspaper Society: 020 7636 7014 www.newspapersoc.org.uk
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