In a city where tradition and technology collide, INMA’s Mumbai Media Study Tour this week painted a vivid picture of India’s media future — one shaped by personalisation, AI, and bold reinvention.

Over two packed days, nearly 20 media leaders visited eight Mumbai-based companies and explored how legacy publishers, start-ups, and digital disruptors are reimagining storytelling, revenue, and audience connection in one of the world’s fastest-evolving news markets.

Visits included The Times of India, Indian Express, Upstox, Dream11, FanCode, Wondrlab, IPG Mediabrands, and Friday Storytellers.

The underlying message from the Mumbai study tour was unmistakable: India isn’t just keeping up — it’s leaning ahead.

1. Personalisation is no longer optional

Dream11’s use of machine learning to tailor user experiences — right down to contest recommendations and payment prompts — was echoed across multiple stops. Even traditional media houses like Loksatta and IPG Mediabrands are exploring ways to adapt stories, offers, and experiences to individual preferences through personalisation and segmentation.

2. First-party data is incredibly valuable

Whether it was Upstox’s user onboarding or Dream11’s gameplay segmentation, first-party data emerged as the foundation for sustainable engagement. Companies that prioritise transparent value exchanges — offering personalised insights in return for user information — are seeing higher conversions, deeper trust, and stronger monetisation.

3. Content focused on meeting audience needs is a growth engine

From financial education at Upstox to regional sports coverage on FanCode, content isn’t just support — it’s the strategy. Effective brands are creating high-utility, audience-specific material across every stage of the marketing funnel. Whether it’s newsletters, videos, or explainers, content that educates, inspires, or simplifies complex topics drives engagement, loyalty, and revenue.

4. AI is a newsroom ally rather than a threat

At Times of India, AI has been successfully integrated across workflows — from generating first drafts and summaries to organising archives and accelerating output. Far from replacing journalists, AI has empowered reporters to file more stories with better quality, freeing them for deeper reporting and creativity.

The shift from personal AI tools to organisation-wide platforms marks a major evolution in newsroom productivity.

5. Monetise, monetise, monetise

At Wondrlab, we saw how schools are turning their physical campuses into branded media ecosystems. From washroom inventory for health campaigns to sports fields for branded events, under-utilised assets can become revenue streams when paired with the right technology and targeting. The lesson for media? Look beyond ad space — everything can be monetised if it delivers value.

6. Storytelling is a brand differentiator

At Friday Filmworks, the team behind hits like A Wednesday and Special Ops made one thing clear: success is rooted in unique, emotional storytelling, not formulas or celebrity casting. Despite having access to audience data, their creative process is driven by instinct, authenticity, and a strong narrative spine.

The takeaway? Data informs, but it doesn’t inspire. Good stories with cultural depth still win.

7. Break down silos: integrate

Legacy media companies often suffer from internal fragmentation — print vs. digital, sales vs. editorial, data vs. content. Loksatta and Times of India showed how integrated newsrooms and unified tech stacks are unlocking speed, efficiency, and stronger storytelling. True digital transformation isn’t just tech — it’s cultural.

8. Regional, local, and niche are growth engines

FanCode’s sports streaming, Loksatta’s Marathi-first journalism, and Upstox’s focus on Tier 2 and Tier 3 cities all point to one reality: India’s growth outside the metros is yet untapped. Local languages, community relevance, and niche interest groups offer rich opportunities for expansion and monetisation.

9. Subscriptions and micropayments can both work

Fancode is a rare example of a successful business built on micropayments because it understands the value exchange. Bundled subscription models with clear value — like Loksatta’s premium content + e-paper access — are showing success, especially when tied to regional content and habit formation.

10. Focus matters

Some of the most effective companies on the tour weren’t trying to do everything — they were laser-focused on one mission. Whether it was FanCode owning niche sports, Upstox educating young investors, or Times of India embedding AI into workflow, success came from alignment around a single North Star metric.

Final thought

Across every tour stop, there was a shared understanding: India’s media future won’t be won by replicating past models or chasing every new trend. It will be built by those who combine trusted storytelling with digital dexterity, who know their audiences deeply, and are intent on meeting their needs.

INMA’s Mumbai Study Tour revealed not just what’s working — but what’s next. 

This article was written with the assistance of AI tools. All content has been reviewed and edited by a human editor to ensure accuracy and adherence to journalistic standards.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .