DB Corp Ltd’s radio business, 94.3 My FM, has reported 22 per cent growth in revenues in Q3 FY12, as against the corresponding period.
Harrish M Bhatia, CEO, 94.3 My FM, while reflecting on the period that not only got his company better revenues but also 555 per cent higher EBIT, said, “We have always believed in the growth story and economic vibrancy of the 17 non-metro markets that we operate out of.”
The surge in the demand for consumer goods, services, FMCG products, better education avenues, etc., make the non-metro markets interesting and rewarding for marketers. Apart from converting this into advertising, My FM has also been tapping the local retail market and building capabilities and competencies within the local retailers to use radio as a medium to garner more footfalls. “It’s taken a lot of planning and effective execution to deliver promise,” Bhatia added.
A constant engagement with listeners through initiatives such as the 12-hour long ‘Music Marathon’ and ‘Ek Koshish’, an international award winning CSR property; structured researches like the quarterly Ormax brand track, auditorium music testing, weekly song testing and regular content testing through dedicated internal research team has enabled My FM to understand listener needs and preferences and offer newer content.
RAM data has been indicating that radio consumption has been steadily increasing in non-metros, and the inclusion of more non-metro cities in the listenership audits have only ratified the fact that the time spent on radio in these markets far exceeds all other medium.