| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
advertisement | ||
Tuesday December 11, 12:17 AMNumber of foreign magazine titles expected to double in AsiaSINGAPORE: For the first time, the Worldwide Magazine Marketplace is being held in Singapore at the Suntec Convention Hall – a nod to Asia Pacific's growing importance among international magazine publishers.The region's magazine publishing sector is expected to grow at an average annual compound rate of 3.8 percent, from US$11.7 billion in 2004 to US$14 billion in 2009. This is comparable with an average global increase of 4.1 percent annually from US$87.3 billion to US$106.5 billion within the same period. In Singapore alone, advertising expenditure in magazines saw a 26 percent growth last year – the highest across all media platforms, namely television, radio, newspaper, poster and bus-stop ads. Over 240 publishers from 43 countries are represented at the Suntec Convention Hall gathering, many of them eager to get their magazines into the Asian market. Currently, over 500 foreign titles are available in the region, with content ranging from automobiles to embroidery. Industry experts are confident this number will double within a few years. The two-day event was opened on Monday by the Minister of Information, Communications and the Arts, Dr Lee Boon Yang, who said the growth in digital media presented both challenges and opportunities for print publishers. That is why companies like MediaCorp Publishing are riding the digital wave to reach out to readers online, on top of the 20 print magazines under its belt, such as Style and Vanilla. Lucas Chow, CEO of MediaCorp, said: "From a print perspective, we are already in Malaysia, so we're looking at some other Southeast Asian cities for our magazines. With an online element, we can have a further reach than what we can do with the print media." "I expect to see some Singapore magazines exported to other countries in the region very shortly, and it will become a two-way market. I don't think foreign titles should dominate in any market. I think locally-generated titles will continue to be the dominant and main titles," said Donald Kummerfeld, President & CEO of International Federation of the Periodical Press. With more options in the coming years, that could only be good news for consumers. Ong Soh Chin, Deputy Editorial Director of MediaCorp Publishing, said: "We are heartened by the interest shown in our titles as well as the many opportunities we have uncovered today in our talks with the delegates. Building on this, 2008 looks to be an exciting one for us." - CNA/so
|
|||
|
Copyright © 2005 MediaCorp News. All rights reserved.
|