The broadcaster has crossed a landmark to join the Rs 100-crore club. The radio broadcaster has been outperforming the industry on EBITDA margins
BestMediaInfo Bureau | Mumbai | May 31, 2016
DB Corp limited, which owns the 94.3 My FM brand, recently announced its annual results 2015-16 during the board meeting held on May 20, 2016. The broadcaster has crossed a landmark, and joined the Rs-100 crore club by recording a top line revenue of Rs 107.5 crore in FY 2015-16. Furthermore, the radio broadcaster has been outperforming the industry on EBITDA (earnings before interest, taxes, depreciation and amortization) margins.
Commenting on the annual results, Harrish Bhatia, CEO, My FM, said, âI am overwhelmed that we have reached this milestone. After being the only radio station to break even in the shortest span of three years and turning PAT positive in less than five years of operation, crossing 100 crore is definitely another landmark for us. These results are a reflection of our differentiated product by following a customer-centric strategy and strong brand connect in our markets. Radio listeners have now evolved more than ever and we are committed to providing our listeners with unique and engaging content. We have always set high industry standards by introducing best of talent and breakthrough content.â
Viplove Gupte, ?Chief Programming Officer, My FM, said, âIn an effort to bring highly specialised and focused content on radio we launched Crossfire, radio's first-ever hard hitting interview. The intent was to bring serious listeners back to radio, create value for listeners and give them a strong reason to tune in. We have differentiated ourselves in terms of content, i.e. exclusive shows as well as positioning i.e. âJiyo Dil Seâ (our strong belief) to build an emotional connect with the listeners. For any medium, the growth will come only if the content is good. Our on ground initiatives are unique and have a strong connect. Jiyo Dil Se Awards, Rangrezz (painting competition), Paiso ka Ped and Daawat E Music have a strong connect with the listeners. In the coming years, we will undertake new and exclusive strategies which will further take us to the next level of radio growth. â
Bhatia further added, âAdvertising revenues for the radio industry have actually grown very well and are poised for an even greater growth. We are present in the real Bharat; it is these towns where the malls, multiplexes are growing, where consumerism is increasing by leaps. We look forward to interesting times in radio.â
In a country where most of the media (vastly television) is not accessible due to power cuts and the low penetration level in rural markets, radio acts as the most effective medium to reach the audience.
My FM started operations in 2006 in Jaipur and in a couple of years saw itself become the fourth radio network in India, with its presence across seven states. The radio broadcaster follows the strategy of the parent company, DB Corp limited, of concentrating of tier II and III cities. The broadcaster was able to break even in three years and turn PAT positive in four-and-a-half years, in spite of the fact that the county was hit by financial crisis. The broadcaster continues to cultivate strong listenership base through active audience engagement and brand promotion activities.