ENIL Q2 revenue jumps 50% to Rs 108.5 crore

EBITDA for the quarter up 115.6% to Rs 20.96 crore

e4m by exchange4media Staff
Published: Nov 12, 2022 8:01 AM  | 2 min read
ENIL

Entertainment Network India Limited (ENIL) has reported a 50% growth in consolidated revenue at Rs 108.5 crore in Q2 FY23 compared to Rs 72.4 crore in Q2 FY22. The company said the revenue growth was primarily driven by a 45.7% growth in radio and 57.7% in solutions.

Operating expenditure increased 40.2% to Rs 88.37 crore from Rs 63 crore. The company noted that the cost economisation initiatives continued to reap benefits as operating costs (excluding digital business and DVC) were lower than in Q2 FY20.

EBITDA for the quarter jumped 115.6% to Rs 20.96 crore from Rs 9.72 crore. The company stated that the EBITDA would have been even better if it excludes the Rs 5.8 crore investment in the digital platform. The company's net loss shrank 95.1% to Rs 50 lakh compared to Rs 10.8 crore.

ENIL has made an impairment provision of Rs 15.15 crore in its Mirchi US and Bahrain businesses on account of Covid-19, the weak global economic situation, and the business environment in most countries.

It noted that this impairment has no impact on ENIL consolidated results as losses were already booked in earlier years. Further, the company has made a provision of Rs 2.63 crore for the relevant onerous contracts in international markets which it intends to discontinue from its operations.

Commenting on the results, ENIL MD Prashant Panday said, "After two consecutive Covid-impacted years, we had a good Covid-free Q2 this year. Mirchi’s business rebounded strongly with solid growth of 50% in revenues and 186.3% in EBITDA over the last year. Mirchi’s market share has grown by nearly 4% since Q2FY20. It is heartening to note that core EBITDA is now just 7% short of the pre-pandemic year FY20. We expect strong growth from here on. Our Solutions business and the new digital platforms – the Mirchi Plus app and the MPing audio ad network – have received a warm welcome and will drive Mirchi’s growth in the coming years.”

The company said its digital platform Mirchi Plus App, which was launched in India on July 1, 2022, has received an encouraging response.

It has signed an agreement to acquire an initial stake in Spardha Learnings.

ENIL has also expanded its digital products portfolio with the launch of MPing.

As on 30th September, the company's balance sheet remains strong with cash reserves of Rs 227.1 crore.

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News broadcast licence, govt ads: Listening in to radio sector’s expectations from Budget

Rationalisation of GST structure, relief in import duty on broadcast equipment are some of the other demands

By Tanya Dwivedi | Jan 31, 2023 9:10 AM   |   4 min read

budget

The year 2022 was the year of recovery for all industries after facing multiple waves of Covid. As we enter 2023, all sectors, including the media, are expecting some relief measures in the upcoming Union Budget to boost their revenue. We spoke to senior leaders in the radio industry to understand what they are looking forward to. Take a look at what they shared.

 

Rationalisation of GST structure 

Industries across sectors are skeptical about the complex GST structure that came into force a few years back.  Radio industry too expects rationalisation of the tax.

According to Ashit Kukian, CEO of Radio City, “The radio sector has been experiencing a steady economic recovery post Covid. With the Budget for 2023 to be announced soon and the Finance Minister laying the foundation of India’s economic growth revenue, the radio sector has certain expectations for the same. One of the most important expectations is re-examination and rationalization of GST. This rationalisation can help the radio industry generate higher revenue and focus on a stronger growth trajectory.”

 

Advertising support from government 

Industries across sectors have been witnessing stagnancy in business for the last couple of years. They all are looking at the government for some support in the form of advertising.

Nisha Narayanan, Director & COO, of RED FM, and Magic FM, said, “Radio has always been loved by the advertising industry for a multitude of reasons. The R in the radio stands for the recall value. It has been and will be the first preference for advertisers even in the upcoming years. This is because radio presents content wrapped in creativity that stays with the listeners for a longer period as compared to other mediums. However, all the benefits fall flat on the face if not supported by the required policies by the government.”

“The radio industry is in dire need of opportunities that are equivalent to other industries, especially in terms of advertising support from the government. Radio has the last-mile reach. It possesses the potential of assisting through natural calamities and much more. Despite the many strengths of radio, the government expenditure on the medium has remained stagnant in recent years and advertising rates have been the same as well,” she shared.

 

Integration of technology to bolster audience base

Talking about technology integration and media advancement across undeveloped areas, Kukian said, “Additionally, we hope that the government draws attention to the integration of technology and digitization across hinterlands as it will help strengthen the radio & media industry in bolstering the audience base. Leveraging this reach, the radio industry can continue to be one of the most preferred media of communication and offer relevant information across the length and breadth of the nation.” 

Talking further about technological development and licence issues in the radio industry, Narayanan said, “We seek allowance in terms of networking, resolving music royalty concerns, and creating an IT policy for streaming digital content. Moreover, relief in terms of investing in the licencing or OTEF at lower infrastructural costs to create original content is expected to be a game changer for the radio industry. With the amended policies and support, the radio industry will continue to be a medium for the masses that uplifts other industries along with it.”

She further asked the government to boost radio infrastructure and create policies that assist in the expansion of the industry into newer markets.

“The radio industry has the potential to thrive if abetted with a level-playing field, especially when it comes to operating in the digital ecosystem. This can be achieved by allowing news and current affairs on radio. This can further encourage more players to join the ecosystem and make it less monopolistic,” she explained.

 

Promotion of Atmanirbhar Bharat

Talking about the import of equipment used in the radio industry, Rahul J Namjoshi, Chief Executive Officer, My FM Radio, Dainik Bhaskar Group, said, “Import duty on transmitters and broadcasting equipment should be exempted as these equipment are not manufactured in India and we are dependent on imports only.”

He added that in indigenous manufacturers should be encouraged. 

 

Licensing Private FM Radio

Furthermore, bringing up the topic of focusing more the license private FM Radio, Abhay Ojha, CBO Zee Media Corporation Limited, said, “Private FM Radio should be given news Broadcasting license for the overall growth of the media.”

Echoing the idea, Kukain, said, “While the recently announced new radio phase III guidelines will boost the radio industry, we believe that the government should also provide an extension on the licence period and streamline the annual licence fees.” 

 

 

 

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RAM Ratings Week 48 '22 - 51 '22: Fever FM tops charts in Mumbai and Delhi

BIG FM led in Bangalore and Radio Mirchi in Kolkata between 27th Nov and 24th Dec'22

By exchange4media Staff | Jan 27, 2023 3:52 PM   |   1 min read

RAM

According to RAM Ratings for Week 48 '22 - 51 '22 (between 27th Nov and 24th Dec'22), Fever FM topped in Mumbai and Delhi charts. BIG FM and Radio Mirchi took lead in Bangalore and Kolkata.

In Mumbai with over 12.2 million listeners above the age of 12, Fever FM continued to stay on top with an 18.3% listenership share. Radio Mirchi was in the second spot with 16.4%. Red FM took the third spot at 15.7%. Listenership peaked between 10 am and 11 am.

In Delhi, in a universe of 16.5 million listeners above the age of 12, Fever FM peaked with a 22% share. Radio Mirchi FM stayed steady with a 14.5% share. Punjabi Fever ranked third with a 13.3% share. Most listeners tuned in between 9 am and 10 am.

Big FM took the lead in Bangalore with a 32.4% listenership share. The second spot was bagged by Radio City with 28.2% share. At the third spot was taken by Radio Mirchi 13.4% share. Most listeners tuned in between 7 am and 8 am.

Kolkata yet again saw Radio Mirchi topping the charts with a 28.1% share in a universe of 9.1 million listeners. Big FM came second with 23.8%. Fever FM had a 14.7%. In Kolkata, the listenership peaked between 9 am and 10 am.

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Radio City records 64% EBITDA growth for Q3

The 9M FY23 top line stood at Rs 147.5 crore

By exchange4media Staff | Jan 25, 2023 11:15 AM   |   1 min read

Radio City

Music Broadcast Limited (MBL)’s Radio City has reported 64% growth in EBITDA for Q3 of FY23.

The 9M FY23 top line stood at Rs 147.5 crore, a 20% growth YoY.

The company also maintained a strong Position with 19% volume market share.

Commenting on the results, Shailesh Gupta, Director said, “We are pleased to report healthy growth in EBITDA QoQ, with margins improving to 26.6% in Q3 FY 2023 compared to 18.3% in Q2 FY 2023. As per a recent research report – 8 in 10 are listening to Radio in Tier-II and Tier-III cities, which being our key growth market, gives a reason to be optimistic about the effectiveness and growth of our medium. In terms of market share, we stand at 19% as against 18% last quarter and having established a strong omni-channel presence we are in a good spot to leverage our deep networks and relationships and offer maximum value to our customers.”

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Meet the radio leaders making waves

Today, we look at the chiefs of ad sales and revenue departments of the country’s leading radio platforms who have been skippering the industry through its many challenges

By Imran Fazal | Jan 24, 2023 8:43 AM   |   3 min read

radio

Radio is a key pillar of traditional media for marketers. The medium is peerless when it comes to the ROI it delivers. While radio advertising took a hit in the recent pandemic years, the medium has persevered through the challenges and ad spends has increased on radio by 36%, according to the Pitch Madison Advertising Report (PMAR) 2022.

Despite the many obits written in its name, the medium shows no signs of giving up. The resilience of the medium can also be attributed to the fine stewardship of the leaders of the radio industry. Today, we look at the chiefs of ad sales and revenue departments of the country’s leading radio platforms who have been skippering the industry through its many challenges.

Radio Mirchi

Preeti Nihalani
Chief Operating Officer, ENIL

"We have been leaders in the radio industry, both in terms of listenership and revenue. In the last 12 years, we’ve been experimenting beyond radio by introducing new elements like music awards, events, social/digital properties, and now audio stories. Today, one-third of our revenue is generated from non-radio streams. In the coming years, we see nearly half of our business coming from ‘Solutions Sales’. With fast paced adoption of digital portfolio of ours (Mirchi Plus, M-Ping, Digital Content Solutions, and so on), we see that nearly 25% of our revenue will come from digital business.”

Red FM

Nisha Narayanan
COO & Director, RED FM & Magic FM

"We have grown to become one of the largest private FM networks with 69 stations across 67 cities with one of the highest listenership. We are not just a radio station but a holistic entertainment brand offering 360 degree solutions for our advertising patrons with activations, IPs, on-ground events, podcasts, digital audio-video production, and social media amplification.”

Key individual

Renuka Iyer
CRO

Big FM

Pratanu Mohanty
Head - Revenue Maximization, Traffic and Administration

Pratanu Mohanty joined BIG FM 6 years ago, and prior to that, he was associated with Star TV, JLL (Accenture, Mumbai) and other Industrial Process Automation profiles. He has a degree in B.E Electrical and PG Diploma in Data Science. His expertise includes enablement of using Tech Simplifying processes, identification, and implementation of work flows to connect multiple departments in order to build effective collaboration.

Big FM is part of Reliance Broadcast, and has over 58 radio stations across India

Hello FM

Ramesh SK
CEO, Hello FM

Ramesh SK (Remy) was elevated to the position of Chief Executive Officer of Hello FM in 2021. As one of its founding members, he has been the singular architect of the brand’s culture, character, and content. For the last sixteen years, he has been spearheading the creation and curation of the network’s programming over its many phases of evolution and growth.

Hello FM is owned by Malar Publications, which also owns Thanthi TV and Daily Thanthi

It was first started in 2006 at Chennai, and Coimbatore

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RAM Ratings Week 47 '22 - 50 '22: Fever FM ahead in Mumbai and Delhi

BIG FM led in Bangalore and Radio Mirchi in Kolkata between 20th Nov and 17th Dec'22

By exchange4media Staff | Jan 23, 2023 10:18 AM   |   1 min read

ram ratings

According to RAM Ratings for Week 47'22 - 50'22 (between 20th Nov'22 and 17th Dec'22), Fever FM topped in Mumbai and Delhi charts. BIG FM and Radio Mirchi took lead in Bangalore and Kolkata.

In Mumbai with over 12.2 million listeners above the age of 12, Fever FM continued to stay on top with an 18.2% listenership share. Radio Mirchi was in the second spot with 16.3%. Red FM took the third spot at 15.6%. Listenership peaked between 10 am and 11 am.

In Delhi, in a universe of 16.5 million listeners above the age of 12, Fever FM peaked with a 21.8% share. Radio Mirchi FM stayed steady with a 14.6% share. Punjabi Fever ranked third with a 13.2% share. Most listeners tuned in between 9 am and 10 am.

Big FM took the lead in Bangalore with a 32.2% listenership share. The second spot was bagged by Radio City with 28.9% share. At the third spot was taken by Radio Mirchi 13.4% share. Most listeners tuned in between 7 am and 8 am.

Kolkata yet again saw Radio Mirchi topping the charts with a 28.2% share in a universe of 9.1 million listeners. Big FM came second with 23.9%. Fever FM had a 14.7%. In Kolkata, the listenership peaked between 9 am and 10 am.

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8 out 10 people are listening to radio in Tier II & III markets

The findings are as per Toluna’s study across 30 markets

By exchange4media Staff | Jan 20, 2023 12:24 PM   |   2 min read

Toulna

Tier II and III markets are showing some enlightening trends for the radio medium, according to Toluna’s recent study across 30 Tier II and III markets, with a sample base of over 1200 respondents. The detailed interviews were conducted among FM radio listeners belonging to 18 to 50 years, who are a part of the Toluna panel across genders, socioeconomic classes and employment status. The data collection was conducted between 19th December, 2022, and 2nd January, 2023. Toluna covered markets in North and West, including Ahmedabad, Jaipur, Indore, Chandigarh, Nagpur, Bhopal, Surat, Ludhiana, Udaipur, and Aurangabad, amongst others.

The study highlights that FM listenership is quite high in these markets, as 80% of the respondents claim they listen to Radio. The listenership is higher amongst working professionals, where 9 out of 10 consume it. Amongst students, a lesser number (66%) tune to the radio as compared to housewives and working professionals. Another big revelation from the study is 33% of radio listeners ranked FM Radio as the preferred medium for daily entertainment, followed by video/music streaming apps.

The highlights of the study are:

1. 74% of radio listeners tune in more than three days every week. Radio listening is a part of a daily routine for around 1 out of every 4 in the decision-maker group.
2. 7 out of 10 radio listeners tune in to Radio for between 30 minutes to 2 hours every day.
3. Another important highlight 6 out 10 people consume Radio at Home

Adding to the insights, Dixit Chanana, Country Director, Toluna India, says “Our study on radio listenership in tier II and III shows some interesting data points. 33% of radio listeners ranked FM Radio as the most preferred medium of daily entertainment. This is consistent with the study that we did in 2020. Apart from consumption on the go, more than 60% consume radio at home. The way people consume Radio in these markets is amazing, and I am sure the Radio fraternity will be very happy to see such kind of findings.”

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RAM Ratings Week 46'22 - 49'22: Fever FM tops again in Mumbai and Delhi

Between 13th Nov and 10th Dec last year, BIG FM led in Bangalore and Radio Mirchi in Kolkata

By exchange4media Staff | Jan 13, 2023 8:32 AM   |   1 min read

RAM Ratings

According to RAM Ratings for Week 46'22 - 49'22 (between 13th Nov'22 and 10th Dec'22), Fever FM topped in Mumbai and Delhi charts. BIG FM and Radio Mirchi took lead in Bangalore and Kolkata.

In Mumbai with over 12.2 million listeners above the age of 12, Fever FM continued to stay on top with 18.1% listenership share. Radio Mirchi was in the second spot with 16.3%. Red FM took the third spot at 15.5%. Listenership peaked between 10 am and 11 am.

In Delhi, in a universe of 16.5 million listeners above the age of 12, Fever FM peaked with a 21.8% share. Radio Mirchi FM stayed steady with a 14.5% share. In the third position was Punjabi Fever with a 13.2% share. Most listeners tuned in between 9 am and 10 am.

In Bangalore, Big FM took the lead with a 31.9% listenership share. The second spot was bagged by Radio City with 28.9% share. At the third spot was Radio Mirchi went down a few notches with a 13.6% share. Most listeners tuned in between 7 am and 8 am.

Kolkata yet again saw Radio Mirchi topping the charts with a 28.1% share in a universe of 9.1 million listeners. Big FM came second with 24%. Fever FM had a 14.6%. In Kolkata, the listenership peaked between 9 am and 10 am

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