Radio One announces 18% avg rate increase across seven markets effective March
Revenue up 4.3% to INR 2199 lakhs in Q3 17-18 from INR 2109 lakhs in Q3 16-17
Next Radio Ltd ( 94.3 Radio One) the radio subsidiary of Next MediaWorks Ltd declared its Q3 17-18 audited financial results in the board meeting held on February 12, 2018.
Year on Year comparison Q3 16-17 to Q3 17-18
Revenue was up 4.3% to INR 2199 lakhs in Q3 17-18 from INR 2109 lakhs in Q3 16-17. EBIDTA was up 23.6% from INR 502 lakhs to INR 620 lakhs in the same period. PBT was up 262% from a negative INR 65lakhs in Q3 16-17 to a positive 105 lakhs in Q3 17-18
Sequential comparison from Q2 17-28 to Q3 17-18
Revenue was up 11.1 % to INR 2199 lakhs in Q3 17-18 from INR 1980 lakhs in Q2 17-18. EBIDTA was up 108.1% from 298 lakhs in Q2 17-18 to 620 lakhs in Q3 17-18.
Vineet Singh Hukmani, MD & CEO , Next Radio Ltd, said: “We are happy to see a turnaround in our Q3 17-18 numbers that ride on highly improved cost efficiencies and a consistent improvement in performance across all our radio markets. Furthermore, these are ‘pure radio growth numbers’ as Radio One is the only ‘targeted’ radio player that does not do on ground events/activations thereby protecting the full value of our on air inventory. We are seeing a glimmer of positivity in the economy thanks to the rising manufacturing index numbers. We would like to believe that the problems faced by media due to demonetization, GST and RERA are behind us and that the radio industry will be able to post a 9-10% growth in the next financial year. Our investments into our on-air radio product and our NEW online streaming product www.1cast.in are deepening our engagement with upscale audiences beyond our 7 FM radio metro markets. Our new online business radio channel ‘Business ONE’ is being loved by its premium listeners. We are also very happy to be adjudged ‘The most attractive media-radio’ brand by TRA research in an annual study that is conducted across 10,000 brands in 16 cities. We feel the radio industry needs to raise rates, given the exorbitant amount of inventory utilization and we are announcing an 18% average rate increase across our 7 markets effective March 1st 2018, to meet our increased investments into upscale audience engagement on air & online.”
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