There has been a boom in the Thai magazine business recently, with more than 100 new magazines trying to tap this limited market.

Like other "short-cut" moves, foreign magazines have an undeniable big advantage to quickly grab a share in the market thanks to strong brand awareness. Magazines from abroad receive an eager response from Thai readers in the midst of an increasingly multi-cultural atmosphere.

Over past few years, the foreign invasion has been seen as a big wave pushing aside local magazines. Long-established Thai magazines have to struggle hard to come up with new strategies to fight off foreign competitors.

As time goes by, however, it is evident that being Thai or foreign is not a guarantee for survival. What matters most is quality that meets readers' demands. The market has seen a number of recently launched magazines close down earlier than expected.

Pakorn Pongwarapa is a business tycoon who has owned more than 20 magazines throughout a 20-year career under the umbrella of GM Multimedia. He admits that the entry of foreign magazines has occasionally given him a hard time. Nevertheless, he pointed to the other side of the coin, which forces local players to revamp their business strategies. The bottom line is that Thai magazine-owners are strong enough to stay afloat.

Pakorn is confident that domestic magazines will survive because they know the demands of local readers best. More than 80 per cent of foreign magazines lack investigative articles, so it is impossible for them to replace Thai magazines like TV Pool, Poo Ying, Preaw and Dichan.

The strong point of local magazines, according to Pakorn, is that they are capable of communicating directly to the hearts of Thai readers who share the same culture. Similar interests between writers and readers are also a plus.

"In the past, owning foreign magazines might look chic," Pakorn said. "But content is really the important matter in response to readers' demand. If someone wants to read a foreign magazine, why don't they switch to read the English version? Consumers don't care much whether a magazine is local or foreign. Their choices are based on individual demand. I want to raise my own plant."

Under his leadership, GM Group is still firm in its "own plant" policy. It is a belief that raising its own plant under Thai circumstances will keep the magazines growing. Pakorn compared this policy to how parents raise their own kids, knowing exactly who they will be when they grow up. It is completely different from foreign players who know just a few aspects about who the Thais really are.

"There are several kinds of operators," Pakorn explained. "GM wants to raise its own plant, although we might grow slower. Still, this will be our plant forever. Others are willing to buy foreign brands. I would say they can do so, but they might not know their own real plants. When problems occur, brands may be withdrawn and given to others."

That is why GM is now pushing its magazines to become a 100-per-cent Thai brand and stay in top position. Magazines under the GM Group are GM, GM Plus, GM Watch, GM Car, GM 2000, Home & Decor, Women Plus, Mother & Care and Bijoux. The company posted a total of more than Bt250 million in revenues a year ago.

There are currently 1,200 magazines registered in Thailand, but only 500-600 are distributed with strong marketing support. Of these, 80 per cent are owned by Thais and the rest by foreign players. The total market is valued at Bt7 billion-Bt8 billion. However, the market trend has been sluggish recently because of political uncertainty, higher fuel costs, and low demand.

As long as local and foreign magazines offer consumers a wide range of lifestyles and food for thought, the market will continue to be a business to watch. Don't blink your eyes: new arrivals land on magazine racks all the time.

Naipakorn Narata

Krungthep Turakij