HT Media shuts Fever FM, a marketing gimmick?

In what appeared to be an end of one of the oldest FM stations, Ramesh Menon, CEO of Audio Business, HT Media Group, Tuesday took to LinkedIn to announce that the company is shutting down its FM station Fever FM.

However, it later turned out to be a marketing gimmick by the FM station, the company sourced told BestMediaInfo.com.

In a LinkedIn post shared by the Fever FM, Menon said, “It is with a heavy heart we bring to you this urgent announcement. You our partners and our listeners have been with us through our ups and downs and our thick and thin but we must make this decision for all. Radio has been a part of your journey, figuratively and literally. Everyday. But as they say, all journeys must come to an end and the end for Radio is closer than you expect.”

In a video post, Menon said, “We have made this difficult decision to shut down our station. This decision comes after careful consideration of the evolving trends. The management wants to express their heartfelt gratitude to the RJs, advertisers, partners, employees and listeners who built and supported the station in its journey. Your loyalty and contribution have helped sustain the station as long as it operated.”

Launched in 2006, Fever Network radio stations include Fever FM, Radio One, Radio Nasha, and Punjabi Fever.

Fever Network operates 22 stations across 15 cities, with three in Delhi and Mumbai, two in Bengaluru, Chennai, and Kolkata, and a presence in Hyderabad, Pune, Ahmedabad, and 7 UP cities.

In the Oct-Dec quarter, the revenue from Radio broadcast and entertainment vertical fell 4.4 per cent to Rs 39.74 crore.

However, HT Media Chairperson Shobhana Bhartia had acknowleded in the regulatory filing on January 19, 2024, that Radio saw better traction in the FCT segment, which resulted in sequential revenue and margin improvement.

In an earning call with investors, HT Media CFO Piyush Gupta said, "Radio has been a bit of a challenge in spite of our best efforts, Radio revenue has not come up to speed as much as we would have liked to. There is a marginal decline of 4% with revenues tracking to INR 40 crores, and operating EBITDA at INR 3 crores with a 7% margin as against 17% margin last year. Sequentially, of course, they were up 12%."

Info@BestMediaInfo.com