94.3 MY FM's revenue and EBIT surges amongst radio stations!

94.3 MY FM, India’s local FM network  posted an encouraging H1 FY12-13 performance recording the highest revenue growth of 16% and EBIT of 184% in the First Half  (H1) ended 30th September 2012. MY FM's  formidable growth  in earnings and revenue during H1 as compared to 10% revenue growth and EBIT growth of 10% recorded, in the first half by Radio Mirchi and those of Radio One with 2% revenue growth and 85% EBIT growth and of BIG FM recording -26 % in growth and - 117% EBIT FY 11-12 has been commendable. MY FM’s strong retail focus & local understating resulted in its high retail advertising market share as well as its healthy growth figures; while most radio players, barring few, witnessed a lower or negative revenue growth during the same period.

94.3 MY FM's strategic business blueprint that focuses heavily on customer & consumer centric initiatives has delivered value constantly ensuring a healthy EBIT growth of 184% in H1. Initiatives ranging from music testing to identify and offer music of listener choice to customer satisfaction tracking system to garner instant feedback for the advertisers on their campaign as well as a customer knowledge building initiatives where the station shares consumer insights, educating the advertisers on how to use the medium effectively for their brand & campaigns have all yielded positive results for the station.

Commenting on the occasion, Harrish M Bhatia, CEO, 94.3 MY FM said “MY FM’s differentiated content, researched music & the strong connect with its listeners through its brand philosophy, “Jiyo Dil Se” has placed it on the top list amongst all other radio stations. Radio consumption is extremely high in tier 2 & tier 3 markets as compared to metros and in some cases it is likely to be the only medium of consumption. While global slowdown may have affected the revenue of metro players, retail advertising remained unaffected as the consumers in these cities are not exposed to the daily stock market fluctuation. We are extremely encouraged by our EBIT growth of 184% over FY11 -12, which is commendable. We would like to thank our advertisers for their support that led to this achievement."

Below are the comparative data for H1 of radio operators