MY FM records topline revenue of Rs 107.5 crore in FY16
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.
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