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FM radio network, Radio One, is continuing to focus on key metros cities, while investing in new talent, content acquisition as well as digital engagement initiatives. It runs radio stations in Delhi, Mumbai, Bengaluru, Chennai, Pune, Kolkata and Ahmedabad.
Radio One is owned by Next Radio Ltd, floated as a joint venture between Next Mediaworks and BBC Worldwide (as a minority shareholder).
Last year, ace investor Rakesh Jhunjhunwala invested in Next Radio Ltd and now owns 25 per cent stake in the company.
Vineet Singh Hukmani, MD & CEO, Radio One, said: “We have renewed licences for the next 15 years for the existing seven metros as these are the markets with the largest revenue base.
“We did not opt for expensive new licence bids. Going into smaller markets does not make sense for us, as we believe getting returns on capital invested in getting licences in these markets is challenging.”
He said the company will continue to focus on catering to its core target audience of “upscale urban audiences” and believes there is still scope for aggressive growth in the metros.
“We closed the last financial year with revenues of ₹76 crore and registered a growth of 16 per cent over the previous fiscal. We are aiming for double-digit growth backed by our differentiated business strategy,” he said
Meanwhile, the company is strategically using social media platforms such as Facebook not only to engage with listeners but also to measure listenership engagement.
“We have various national audience interest pages on Facebook. In addition, we also mirror our on-air local city content live on each of our city Facebook pages. This not only helps us engage with our audience but also measure engagement at any point of time.
“We have become the most liked radio station in Delhi, Mumbai and Bangalore on Facebook. Our product teams now integrate content and advertiser messaging seamlessly on-air and online. This also helps us garner listenership measurement data,” he said.
Hukmani said this has helped the company get exclusive advertisers, which contribute a significant chunk to the company’s revenues.
“We have realised that strengthening live engagement through radio and social media connect will help us drive growth,” he added.
He added that advertising rates for radio have firmed up by nearly 20 per cent after the FM radio industry bid aggressively to grab new licences in auctions last year.
He said there has also been a lot of growth in “radio only advertisers” segment and addition of new advertisers on radio.
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