Private FM radio ad revenue growth slows in FY25

As per a TRAI report, the sector’s ad revenue increased by over 2% compared to a nearly 15% growth in FY24

by Chehneet Kaur
Published: Jan 12, 2026 1:44 PM | 1 min read

Advertisement revenue of private FM radio broadcasters rose marginally in FY25, underscoring steady but moderated growth for the sector amid a cautious advertising environment.

As reported by private FM radio operators to the Telecom Regulatory Authority of India (TRAI), ad revenue increased to Rs 1,818.71 crore in 2024–25 from Rs 1,775.79 crore in the previous financial year, translating into a year-on-year growth of around 2.4%.

The latest growth follows a sharper uptick in FY24, when private FM radio ad revenue had climbed nearly 14.8% to Rs 1,775.79 crore from Rs 1,547.13 crore in 2022–23, indicating that momentum has since softened.

On the operational front, the number of private FM radio stations remained unchanged at 388 as on 31 March 2025, according to data submitted to TRAI. This excludes radio channels operated by the public service broadcaster, All India Radio, which ran 591 channels during the same period.

Community radio continued to expand, albeit at a measured pace. As per information provided by the Ministry of Information and Broadcasting, 531 community radio stations were operational as on 31 March 2025, out of 639 permissions issued. This compares with 494 operational stations out of 605 permissions as on 31 March 2024.

Industry executives have previously flagged pricing discipline, regional advertiser demand and integrated brand solutions as key levers for sustaining growth, even as radio competes with digital platforms for advertiser attention. The FY25 revenue numbers suggest that while the medium remains resilient, growth is increasingly incremental rather than rebound-led.