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In this paper, we describe how hybrid media will change print product's value chain and what kind of opportunities it brings to print media in the future. We interviewed 20 actors of Finnish advertising and media business in order to find out, what kind of opportunities they see that augmented reality (AR) and hybrid media in general bring forward, and what are the critical challenges. One of the key findings was that AR should be part of a broader hybrid media framework. At the moment, the technical performance of smart phones is high enough for AR applications and also the penetration of smart phones is increasing rapidly. Thus markets are ready for mass marker AR applications. According to the results, the actors in print media value chain have mainly very enthusiastic attitude towards augmented reality enriched hybrid media. Especially the interactivity and the new kind of measurability it brings along were found important. The interviewees were unanimous about the components in the hybrid media value chain, although the roles of the actors were not set. The owner of the AR hybrid media framework could vary case-by-case. The need for standardization has been observed.