The rate increase is effective February 1, 2016, across its seven markets, namely, Mumbai, Delhi, Kolkata, Chennai, Pune, Bangalore and Ahmedabad
BestMediaInfo Bureau | Delhi |Â January 5, 2016
94.3 Radio One, the radio brand of Next Radio Ltd, has elevated its leadership team to meet the challenges of the new phase of FM radio. It is also the first of the block in the New Year to announce a rate increase effective February 1, 2016 averaging 25% across its seven markets, namely, Mumbai, Delhi, Kolkata, Chennai, Pune, Bangalore and Ahmedabad.
The leadership changes announced are: Saurabh Sehgal has been elevated as COO â Operations; Shyju Varkey as COO â Strategy & New Revenue; Anil Machado is now Chief Content & Talent Officer; Debojit Saha has been made Chief Innovation Officer; Sabina Sanghvi made Business Cluster Director - Pune, Kolkata, Chennai, Ahmedabad; and Hrishikesh Kannan elevated as National host/producer training Director.
Vineet Singh Hukmani, MD & CEO, Radio One, said, âWe are pleased to elevate the enablers and drivers of our business who will lead our company through the next phase of radio. Additionally, we are also bullish about new hiring across key departments in large revenue cities which we have begun in full swing. We owe this confidence to our audience engagement based differentiated model which is showing good growth traction. We have constantly stayed away from being a âmere reachâ vehicle like our mass competitors. Our cost control both at an operations level and the fact that we did not strategically bid for expensive licenses in the auctions held earlier makes our P&L model very attractive and unique.â
Radio One is also the first to announce a spot rate increase averaging 25% across its markets. Differentiated stations reaching an upscale audience in all seven markets combined with digital mirroring of content provide an excellent currency for evaluation of ROI by clients. This allows the brand to charge a premium for its inventory in the high engagement programmes most of which are celebrity driven. This year has seen A-list celebrities like Hrithik Roshan, Vidya Balan, Ranveer Singh, Saif Ali Khan and a host of other national and local celebrities leading the stationsâ key programming initiatives.
âThe 25% increase is because we have invested heavily into creating differentiated programmes across all our cities that get very high engagement for upscale listeners and therefore for the advertiser, both on air and on social media. Furthermore, we are running full on spot inventory and in order to create a good balance for listeners we have no choice but to raise rates. Most large clients and agencies are aware of the high engagement value we bring and have encouraged us to improve value and price, thereby reducing on-air clutter. We thank them for their constant support for our differentiated play,â said Hukmani.