Radio One, the FM joint venture between Mid-Day Multimedia and BBC Worldwide, has reported a 92 per cent jump in revenues for second quarter ended September 30, FY09 as compared to the corresponding period in the previous fiscal. Radio One had a growth of 85 per cent in Q1 over the corresponding period last year.
Commenting on the Q2 results, Vineet Singh Hukmani, CEO, Radio One, said, “The company’s PBT operations for the half year ended September 30 is now reported to be positive and has grown by 117 per cent over the corresponding period last year. According to estimates, the radio sector has grown 27 per cent in the six metros that Radio One operates in over last year’s net revenue figures.”
He further said, “We have always focused on maximising business yield at the current level of business investment before we expand to the next level. So, you can call our approach more ‘mid-term entrepreneurial’ versus ‘long term speculative.”
When asked how competitive radio advertising was, Hukmani replied, “A rapidly fragmenting market is leaving enough choices for clients to pick any FM station brand, and needless to say, a healthy combination of values and volumes have contributed to our super normal growth in national figures.”
Radio One also claims to have a share of 17-18 per cent of listenership across its markets over a 52-week period.
“We are innovating constantly to improve the same within our core audience set of SEC AB 18-34,” Hukmani added.