94.3 MY FM, the radio division of Dainik Bhaskar Group, has announced a rate hike across all its 17 stations by 25 per cent. The decision to hike rates has been taken to address the current inventory crunch, the operator said. The rates will be effective from Feb 1, 2016.
Commenting on this, Harrish Bhatia CEO of 94.3 MY FM said, “Our inventory has been peaking and increase in ad rates is the only way to balance. We want to deliver a good listening experience to the listeners and better ROI to our advertiser."
Adding further, Bhatia informed that My FM has been seeing fast growth as advertisers have realized the importance of radio in reaching out to audiences.
“We are a strong customer centric organization and invest a lot in understanding the taste and needs of our customers, this approach has helped in building in a strong differentiated product. We enjoy undisputed leadership across all our stations and more and more advertisers want to leverage our leadership position to reach out to their target audience," he said.
The company further stated that there is huge potential for radio's portion in the Indian ad spend pie to come closer to the global average of 8 to 9 per cent.