PK Iyer, executive director, Deccan Chronicle Holdings claims that Deccan Chronicle has reached the circulation figure of 2 lakhs.
"We have raised our print run to 2-lakh since yesterday. With this, we have almost achieved a 50 per cent market share in Chennai," he declares.
The Hindu, the number one English daily of this region has a circulation of 2,67,000 in Chennai (as per ABC, July to December, 2004). However, the total circulation of The Hindu in Tamil Nadu is 10.47 lakhs.
Deccan Chronicle had also run a subscription drive in Chennai where it had offered annual subscriptions at Rs 99 for ICICI Bank's credit card holders in the city. Iyer clarifies, "That particular subscription drive only accounts for 18,000 copies in the total circulation of 2-lakhs."
As per Iyer, the big differentiator for the growth of Deccan Chronicle in Chennai has been its cover price. In Chennai, Deccan Chronicle sells at an invitational price of Re 1, while The Hindu sells for for Rs 3.25 on weekdays and Rs 4.50 on Sundays.
Iyer says, "Both the readers and the advertisers have accepted Deccan Chronicle in Chennai. This is evident from the 12-pages of classified tabloid, which is published every Sunday."
"Local advertisers would only come in, only if the daily has reached a certain mark," he adds.
As per industry experts, Deccan Chronicle has become the second newspaper for Chennai households. This means that while readers continue to buy The Hindu, which is part of their daily habit, they are also trying out the new entrant Deccan Chronicle.
Commenting on the second newspaper status, Iyer says, "We do not want to get into the race of being the first or second newspaper. All we aim is to become the leading daily of Chennai."
Iyer is hopeful that Deccan Chronicle will reach a 4- lakh circulation by the end of this financial year. He says, "In a market such as Chennai, there was only one significant player, which is The Hindu. Now with new players coming in, the market is bound to expand."
In terms of advertising, the newspaper is aiming at a revenue of Rs 50-60 crore by the end of this fiscal. © 2005 agencyfaqs!