Srinivasan K. Swamy elected Chairman of Audit Bureau of Circulations for 2023-24
Context
Srinivasan K. Swamy, Executive Chairman of the R.K. Swamy Hansa Group, was unanimously elected Chairman of the Audit Bureau of Circulations (ABC) for the year 2023-2024.
Audit Bureau of Circulations (ABC)
- The Audit Bureau of Circulations (ABC) is a non-profit organization that audits the circulation of major publications in India, including newspapers and magazines. The ABC was founded in 1948 and is made up of publishers, advertisers, and advertising agencies.
- The ABC’s primary objective is to obtain accurate circulation figures and data for all periodicals and media that sell advertising space. The ABC certifies and audits the circulations of publications enrolled with it for six-monthly audit periods.
Establishment:
ABC India’s establishment began in 1948. There was no formal mechanism in India before its formation for auditing and validating the circulation counts of publications. To determine circulation figures for advertising purposes, publishers have to rely on their judgment.
Purpose:
ABC India’s principal goal is to provide a dependable and impartial mechanism for checking the real circulation numbers of publications. This verification is required for publishers to demonstrate to advertising the worth of their publications. ABC certifications of circulation help advertisers, advertising agencies, publishers, and organizations involved in print media advertising.
Membership:
Publishers must be members of The Indian Newspaper Society (INS) and have their publications registered with the Registrar of Newspapers for India (RNI) to be eligible for ABC certification. Publishers must also keep necessary books and records to facilitate effective ABC audits.
Audits:
ABC India undertakes frequent audits of publications. The publisher appoints an independent firm of Chartered Accountants from an approved panel of auditors, as identified by ABC, to conduct the audit. Admission to ABC membership is contingent on a successful admission audit.
Certification:
ABC certifies audited Net Paid circulation data for publications that are members of the organization. These certificates are granted for six-monthly audit periods that are continuous and definitive. The certificates include data on net paid circulation figures, free distribution, and bulk sales, assuming that relevant records are kept up to date. Before issuing the Certificate of Net Paid Circulation, independent auditors verify and scrutinize these records.
Leaders Appointed
- Chairman: Srinivasan K. Swamy, Executive Chairman of R.K. Swamy Hansa Group, has been unanimously elected as the Chairman of ABC for 2023-2024.
- Deputy Chairman: Riyad Mathew, Chief Associate Editor and Director of Malayala Manorama, representing publisher members, has been unanimously elected as the Deputy Chairman of ABC for the same term.
- Secretary: Mohit Jain, Executive Director of Bennett, Coleman & Co. Ltd., representing publisher members, was unanimously elected as the Secretary of ABC.
- Treasurer: Vikram Sakhuja, Partner & Group CEO Media & OOH of Madison Communications Private Ltd., representing advertising agencies’ members, was unanimously re-elected as the Treasurer of ABC.
Conclusion
ABC India is a reputable organization that assures transparency and accuracy in reporting circulation data, which benefits both publishers and advertisers in the Indian print media business.
