Hyperlocal News: Quick Commerce Of News Industry And How Way2News Leads The Charge

Hyperlocal news platforms, driven by AI and innovative advertising solutions, are transforming the news industry by mirroring quick commerce to meet modern consumer demands for immediate, relevant content and cost-effective, targeted advertising

The digital age has brought about remarkable technological advancements, making everything just a click away. These innovations have fundamentally changed consumer preferences, driving demand for quick and easy access to products and information. Whether it's rapid delivery of goods or instant access to news and updates, consumers now expect immediate gratification. This shift in consumer behaviour has fueled the rise of quick commerce, which prioritises speed and convenience.

In parallel, hyperlocal news has emerged as a vital component of the news industry, responding to these same consumer demands. By delivering immediate, relevant information to small, highly targeted communities, hyperlocal news platforms provide the timely, localised content that modern consumers crave. This model not only aligns with the trend towards instant access but also enhances the news consumption experience by focusing on the stories that matter most to local audiences.

Recent years have seen a significant increase in the number of hyperlocal news platforms targeting local communities across various regions of the country. These platforms focus on delivering news that directly impacts the daily lives of their readers, covering everything from local politics and events to community issues and business updates. This localised approach ensures that the content is highly relevant and engaging for the audience.

Not only readers but also numerous local and national brands have been reaping significant benefits from hyperlocal news apps. These platforms offer a cost-effective and efficient way for brands to reach their target audiences, even in the remotest corners of the country. Driven by innovative advertising strategies that mirror the quick commerce model, these apps leverage AI and user data to deliver highly relevant and timely ads that hyper-target the audience in their preferred language based on location. This precise targeting boosts engagement and conversion rates, offering brands a higher return on investment.

Among the leading apps in this space is Way2News. Founded in 2015 by Raju Vanapala, Way2News has quickly established itself as a go-to source for reliable and relevant hyperlocal news in South India. The app, available in 8 local languages, has more than 50 million downloads and attracts close to 13 million monthly visitors. The platform aims to inform and empower every Indian with the latest news based on language and preference in real-time. Additionally, Way2News has seen a significant increase in the number of brands advertising on its platform, driven by its proven benefits and strong return on investment for advertisers.

In an era where several platforms struggle to provide brands with the desired recall and value, the industry is witnessing a monumental shift. Advertising investments are migrating towards OTT platforms, especially in non-fiction shows for added revenue. The challenges are high costs and concerns about audience quality, leading brands to seek more cost-effective and targeted options.

Hyperlocal news platforms are addressing this gap by offering cost-effective solutions for both regional and national brands aiming to reach the remotest corners of the country and tap into the last-mile audience in their respective languages. Way2News, for instance, has introduced an innovative solution known as "Mobisodes" (Advertiser-Funded Program). According to Vanapala, these Mobisodes are short, engaging episodes of non-fiction content designed to meet the evolving needs of the advertising landscape. With traditional TV platforms struggling to provide cost-effective and highly targeted advertising opportunities, Mobisodes offer brands a dynamic platform to engage with their target audiences.

The strategic collaboration between local and national advertisers and hyperlocal news apps has proven successful, contributing to increased revenue for these platforms and delivering significant returns for the brands involved. Way2News has seen a 24 per cent revenue increase in the last year, demonstrating the effectiveness of this approach.

According to recent surveys conducted in India, over 70 per cent of consumers prefer personalised ads that are relevant to their location and interests. Businesses that invested in hyper-local marketing reported a reduction of up to 50 per cent in their overall marketing spend while achieving higher returns on investment. Social media platforms and location-based advertising tools enable businesses to reach a targeted audience without incurring exorbitant expenses.

Given the substantial value hyperlocal news platforms provide to both audiences and advertisers, they are increasingly attracting interest from investors to expand their operations and enhance their technological capabilities, ensuring continued growth and innovation in the sector. Their ability to deliver highly relevant content and effective advertising solutions positions these platforms as valuable investments.