AgTalk | Radio will finally be termed as a pan India medium: MY FM's Harrish M Bhatia

Harrish M Bhatia, CEO, MY FM, has been a strong voice for the radio industry in its numerous talks over Phase III and about building the radio's potential as a medium with high reach. In an exclusive interview with Adgully, Bhatia talks of MY FM's plan as Phase III rolls out and some of the other doubtful hooks within the Phase III policies. Excerpts:

Adgully (AG): Post governments approval of e-auctioning of 839 private channels in 227 towns, what will be your plans at MY FM?

Harrish M Bhatia (HB): We are affirmative about the future and we have decent plans for pan India expansion.

AG: Has there been a special team created by you to look into this development hence tackle it efficiently.

HB: Yes we have a team looking into this development. As far as MY FM is concerned, we are very sure bullish about the future. The sky is the limit for us. Owing to Phase 3, the industry as a whole will definitely witness a positive impact. The business dynamics will be transformed for the better in the radio industry. Radio will be spread all over the country and will finally be termed as a pan India medium.

AG: What kind of growth are you expecting from the industry at large in next 3 years and specifically at MY FM.?

HB: Owing to the recent announcement regarding the Phase III policy by the cabinet, the industry as a whole will see a major increase in terms of the following:

Regulation: Key regulatory changes in Phase 3 are expected to facilitate industry growth. The industry is looking forward to receiving the benefits of cost economics, format innovation, increasing reach and revised industry structures.

Local Advertising set to grow in Phase 3: Driven by Radio's strong value proposition and Phase 3, significant growth in local advertising is likely to be witnessed.

Emergence of regional networks: With high purchasing power, media companies can look forward to a good opportunity in regional markets.

The given permission for multiple frequencies in terms of consolidation and emergence of focused formats will definitely have a potential impact on the metros along with the radio markets in tier 1 cities. Radio will be able to widen its product offering much more than it can do now and would start new stations with programmes catering to a select segment of listeners or genre of music.

The permission for networking will witness a probable impact on cost economics and hence a visible growth particularly in non metro markets will be seen. This in course will have an optimistic impact on the cost economies and will in turn aid the growth of the stations accordingly.

AG: What will be your plans in Metros and C&D markets?

HB: We have pan India expansion plans which will roll out very soon.

AG: Can you share with us your thoughts on Phase 3 decreasing the operating costs?

HB: The decrease in the operating cost depends upon a number of factors. Radio players will be able to broadcast using existing resources, both capital & operations. However, unless the music royalty issues that has been pending for quite some time gets resolved, it is difficult to comment.

AG: What new formats of content can we expect from your end?

HB: We are constantly working towards introducing newer and different content in our programming, like always. Having said this, it is slightly early to say what is coming up next.

AG: Since expansion means more talent so will the industry get the right talent to be a part of this industry?

HB: We have already identified talent available in our existing markets as well developing newer talent for future roles as we plan for expansion. | By Prabha Hegde [prabha(at)adgully.com]