Red FM to give industry awards a miss amid growing financial uncertainty

In view of the present market situation, 93.5 Red FM has taken a conscious decision to cut down on all additional costs. This involves not participating in industry awards this year.

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While the radio network’s business is running as usual, they are taking precautionary cost cuts anticipating a tough Q1 because of Covid-19. For the time being, they have put all their on-ground events on hold. Covid-19 has not only created a health scare but has affected the experiential industry enormously.

Globally, events have either been postponed or cancelled and most organisations have initiated work from home policy for their employees. The government of metropolitan cities such as Delhi, Mumbai and Bengaluru have passed orders to shut down pubs, malls and theatres to contain the spread of the coronavirus.

The spread and severity of Covid-19 has made various organisations analyse their businesses and take immediate actions to support their employees and customers. In India, various brands have held back their marketing initiatives and are re-looking at their communications strategy.

Nisha Narayanan

Nisha Narayanan, Director and COO, Red FM and Magic FM, said, “With economy slowing down and outbreak of Covid-19, there’s uncertainty across industries. Amid the challenging times, it is imperative for all of us to take radical steps. At Red FM, we have decided to forego all the industry awards this year so that we can utilise this money towards more critical projects. With usual continuation of our on-air and digital platforms, we are working to maximise the awareness about this pandemic. It is highly advisable to not spread unverified news and understand that safety is utmost important for everyone around us. We need to be cognizant about the fact that encouraging any sort of panic and social gatherings will worsen this situation. We are hoping for businesses to return to its normal state in the upcoming months.”

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