DB Corp Ltd., which owns the 94.3
MY FM brand announced its annual results 2015-16 during the board meeting held
on 20th May 2016. MY FM has crossed a landmark, and joined the 100 crore club
by recording a topline revenue of Rs 107.5 crore in FY 2015-16. Furthermore MY
FM has been outperforming the industry on EBIDTA margins
Commenting on the annual results,
Mr. Harrish Bhatia, CEO, MY FM said, “I am overwhelmed that we have reached
this milestone. After being the only radio station to Break even in the
shortest span of 3 years and turning PAT positive in less than 5 years of
operation crossing 100 crore is definitely another landmark for us.
These results are a reflection of
our differentiated product by following a strategy of customer centricity and
strong brand connect in our markets. Radio listeners have now evolved more than
ever and we are committed to providing our listeners with unique and engaging
content. We have always set high industry standards by introducing best of
talent and breakthrough content.”
Viplove Gupte, Chief Programming
Officer said, “In an effort to bring highly specialized and focused content on
radio we launched Crossfire; radio's first ever hard hitting interview. The
intent was to bring serious listeners back to radio, create value for listeners
and give them a strong reason to tune in. We have differentiated ourselves in
terms of content i.e. exclusive shows as well as positioning i.e. ‘jiyo dil se’
(our strong belief) to build an emotional connect with the listeners. For any
medium, the growth will come only if the content is good. Our On ground
initiatives are unique and have a strong connect Jiyo Dil Se Awards, Rangrezz
(Painting Competition), Paiso ka Ped, Daawat E Music have a strong connect with
the listeners and brings out the extraordinary in them. In the coming years, we
will undertake new and exclusive strategies which will further take us to the
next level of radio growth. ”
Mr. Bhatia further added,
“Advertising revenues for the radio industry have actually grown very well and
are poised for an even greater growth. We are present in the real Bharat, it is
these towns where the malls, multiplexes are growing, where consumerism is
increasing by leaps. We look forward to interesting times in Radio.”
In a country where education
levels are still low and power cuts are rampant, radio acts as the most
effective medium to reach to a larger audience. This is true especially in the
case of TIER II and TIER III cities where there is lack of infrastructure for
entertainment and engagement. Hence, Radio takes a Lead.
94.3 MY (the radio arm of DB Corp
group) identified this opportunity and started its operations in 2006 in Jaipur
and in next couple of years saw itself become the forth radio network in India
with presence across 7 states. Following the strategy of the parent company, D
B Corp Ltd., MY FM too concentrates on TIER II and TIER III cities. Even, when
the country was hit by financial crisis MY FM was able to break even in 3 years
and turn PAT positive in four and a half years. MY FM 94.3 continues to
cultivate strong listenership base through active audience engagement and brand
promotion activities.
A pioneering brand in the radio space, 94.3 MY FM is the radio business of DB Corp Ltd. Launched in 2006, MY FM took a bottom-up approach and set up its network across 17 Tier II & III cities across 7 states, building on the strong local understanding that Bhaskar Group had in these markets. True to its brand name which signifies the emotional ownership and personalized approach of the station, MY FM has successfully established a network of 17 highly localized stations focusing on individual market preferences. Constantly evolving and innovating its offerings, 94.3 MY FM draws a keen focus on its brand philosophy of 'Jiyo Dil Se', forging an emotional connect with its listeners while continually creating offerings to suit local tastes. MY FM is poised to expand its territory and launch another 13 stations this year.
A pioneering brand in the radio space, 94.3 MY FM is the radio business of DB Corp Ltd. Launched in 2006, MY FM took a bottom-up approach and set up its network across 17 Tier II & III cities across 7 states, building on the strong local understanding that Bhaskar Group had in these markets. True to its brand name which signifies the emotional ownership and personalized approach of the station, MY FM has successfully established a network of 17 highly localized stations focusing on individual market preferences. Constantly evolving and innovating its offerings, 94.3 MY FM draws a keen focus on its brand philosophy of 'Jiyo Dil Se', forging an emotional connect with its listeners while continually creating offerings to suit local tastes. MY FM is poised to expand its territory and launch another 13 stations this year.
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