Vision to strengthen its market dominance

Oct 09, 2008

THE New Vision is to cement its dominance of the media industry with billions of shillings in planned investment into expansion of printing capacity and entrance into the electronic media.

By Paul Busharizi

THE New Vision is to cement its dominance of the media industry with billions of shillings in planned investment into expansion of printing capacity and entrance into the electronic media.

The sales and marketing manager, Tony Glencross, said: “Across our several titles, we control 60% to 70% of the circulation market and 60% to 70% of advertising. We are not complacent. We are always looking at improving and give more value to readers.”

Glencross said this at the “Facts behind the figures” event with market analysts and the media at the Uganda Securities Exchange (USE) in Kampala.

In addition to The New Vision newspaper, the company publishes other market leaders like Saturday and Sunday Vision, Luganda daily Bukedde, weeklies Orumuri, Rupiny and Etop as well as Flair, Bride & Groom, Premiership and City Beat magazines.

While explaining the company’s marketing strategy, he said the company was investing in radio, TV and online media, which do not attract as much revenue as the flagship New Vision newspaper.

“But when the market swings, we will have platforms that will be number one or there about. We will be best placed to take advantage ...” Glencross said.

The meeting between market analysts and the press and the company’s management comes shortly after completion of a rights issue, in which sh29.1b was raised to expand into radio, television and printing.
On Monday, the company signed an agreement for the the supply of a $9m (sh14.9b) printing press whose installation will begin during the second half of next year.

“All these investments are to raise the bar in the industry for our competitors and new entrants,” the finance manager, Zubair Musoke, said.

While responding to questions about the company’s foray into the radio market (the company recently bought Radio West) and whether they were any new acquisitions envisaged, the corporation secretary, Gervase Ndyanabo, said: “The option is open. Our intention is to have national coverage.”

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