National 6 (Spotlight Weekly)

Business Boom

When all other business sectors are losing money, media business continues to flourish

By KESHAB POUDEL

Newpapers : Mushrooming in market

Even as some broadsheet dailies are facing financial troubles and are on the brink of closure, Nepalese readers will see the start of three new weekly magazines and another half a dozen of FM radio stations.

It seems strange to see the booming media business in the Himalayan Kingdom. Although the business houses are complaining about economic recession, the investors find media as a good venue for investment.

From FM radio stations to Television stations and daily to weekly newspapers, the business organizations are scrambling to invest in the media sector.

Despite the number of new magazines with glossy format coming up under new publishing houses, it remains to be seen how they would exercise the freedom of expression and disseminate fair news and views.

At a time when newspapers are getting complaints that often they publish distorted versions of news based on personal likes and dislikes rather than by maintaining objectivity, it is yet to be seen how the new publications will prove that they are different than others and that they are committed to protect Nepal’s interest.

From the second week of April or Nepalese new year, the country will have three weekly magazines including one in English and two in Nepali languages.

Soon after the announcement of publication of new weekly magazine Samaya National Weekly by former editor of Kantipur Yubaraj Ghimire, Kantipur Publication has decided to turn its fortnightly magazine Nepal into a weekly one.

Given the size of market and readership, the competition seems to be tough for the different publications. In the course of last twelve years, many publishing houses have declared bankruptcy after folding their papers.

“Nepal’s readership size and market size are expanding. If we produce quality product, people will adopt and patronize our magazine, which is coming up in the first week of Baishakh,” said Yubaraj Ghimire, editor of forthcoming Samaya National Weekly.

Published by Kantipur publications, Nepal magazine - which has been in the business for the last three years – will now be coming up every Sunday leaving behind Himal Khabar Patrika in a monopoly in the fortnightly magazine market.

“As far as the market of fortnightly magazine is concerned, we have no competitor in the market because we have created our own market. Contemporary Nepal is a big market for news, views and analysis. This is continually expanding over the time. The new media have to create their own market. In this sense, it is positive to see new magazines,” said Rajendra Dahal, editor of Himal fortnightly magazine.

There is still a gap in the market. At a time when the weekly tabloids are becoming unable to cater to the news for the readers, the weekly news magazine could fulfill the quest of the market.

“We have decided to go for weekly to fill the gap in the market of daily and fortnightly publications,” said Sudhir Sharma, editor of Nepal magazine. “We covered more analytical stories in the past and we will be completely new magazine now.”

Nepalese newspaper market – which was earlier limited to just a few district headquarters – is now expanding all over the country along with the expansion of transport facilities. In the last few months, some tabloids have started to publish in color and have embraced new get-ups showing the sign of commercialization.

Till a decade ago, the weekly tabloids - which have smaller investment – had major say in the market dominating the overall market. With the arrival of new investment, the situation has changed now. But it remains to be seen how these news magazines speak the voices of Nepalese people protecting freedom of expression guaranteed by the Constitution of Kingdom of Nepal.