The Hindu Business Line : Muthoot’s FM to hit Chennai airwaves in Sept

Chennai, July 6 The Kerala-based Muthoot Group is planning to launch its FM channel in Chennai in September, Mr George Muthoot, Executive Director, Muthoot group, told Business Line.

According to him, the FM channel, the name of which he refused to divulge, will be on the frequency 104.8.

“We have roped in people from different media, including some from the radio industry, at the top level and are creating the necessary infrastructure for our station in Chennai,” said Mr Muthoot. According to radio industry sources, the new station may have the city name Chennai in its branding.

Talking about the channel’s content, he said it will be more a ‘talk radio’ than just playing music. “The channel will be all about Chennai. We are developing a completely new format with a lot of interactive programmes and talk shows.”

entertainment foray

The Muthoot Group, primarily in banking and finance, which is its core area of operation since inception, has interests in multiple domains including healthcare, education, hospitality and real estate. This is the group’s foray into the entertainment space.

An advertising campaign, developed by Rediffusion is likely to break in a month’s time from now.

With nine FM channels already on air, Chennai is becoming a hotbed of FM channels. Muthoot’s may be the tenth. There is FM Gold and FM Rainbow from All India Radio; Radio Mirchi (Entertainment Network India Ltd of the Times group) Suriyan FM from the Sun Group; Ahaa FM (Kumudam publications) Hello FM (Malar Publications); Radio City (Music Broadcast Pvt Ltd); Big FM (Adlabs) and Radio One (Radio Mid-day).

Mass reach

FM is seen as a good medium to reach the masses — people in the lower income groups or those who are on the move, such as autorickshaw drivers, said radio industry officials.

“In three years from now, the medium of FM radio will attract at least 7 per cent of the Rs 14,000-crore ad industry,” says Mr L.V. Navaneeth, Station Head-Chennai, Radio One. (It is about three per cent now.)

Industry sources believe that with listenership growing, the demand from advertisers will cause FM operators to branch off into the untapped non-metro markets too.

According to Radio AdEx, a division of TAM Media Research, during January-December 2005, FM radio ad revenues were in the range of Rs 90 crore in Mumbai, Rs 87 crore in Delhi, Rs 30 crore in Kolkata and Rs 21 crore in Chennai.

But, during the period there were only three FM channels in Chennai (Rainbow, Suriyan and Radio Mirchi).

According to industry sources, during January-August 2006, the ad revenues in Chennai alone grew by 31 per cent in comparison with the same period in the previous year.

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Muthoot’s FM to hit Chennai airwaves in Sept