My FM has welcomed the decision by the Ministry of Information and Broadcasting, Government of India, to revise the rates by around 60% for the release of Government Advertisements on Private FM Radio Stations.
Earlier in October, the Ministry of Information and Broadcasting (MIB) approved new rates for the Central Bureau of Communication (CBC) advertisements for private FM radio stations, after seven years, based on the recommendations of the Rate Structure Committee set up by it.
My FM stated that the revision, coming after a hiatus of 7 years, recognises the potential of the medium to reach millions of listeners across the country.
“The management and team at My FM extend their gratitude to the Ministry of Information and Broadcasting, Government of India, for recognising the vital role that private FM radio stations play in the nation's development. The rate revision is a testament to the medium's potential, and we eagerly anticipate more support and increased investment from the Government in the future,” said the company statement.
Rahul Namjoshi, CEO, My FM, said, "We could not have asked for a better Diwali gift. MY FM's advertising rates have been revised by about 60% on average. The entire radio broadcasting fraternity has been eagerly awaiting this rate correction, and we are thrilled that the notification has come into effect. The Government of India recognises the potential of the medium and the unparalleled reach it delivers. The Prime Minister himself is effectively using it for his 'Mann ki Baat' show. We hope that the Government of India will continue to invest in and support this vital category."