Reeling under Covid-19 impact, AROI seeks bailout package from Govt
Association of Radio Operators for India (AROI), the industry body of private FM channels, is seeking a bailout package from the Government in view of the severe impact of the Coronavirus outbreak on the industry.
All private FM radio players have written to the Union Minister of Information & Broadcasting, Prakash Javadekar, about industry going through a tough phase with advertising revenues shrinking over the past year, coupled with a steep fall in government ads, and hoped that the Government will consider its requests for certain concessions it had sought in December 2019. The impact had worsened with the sudden outbreak of pandemic COVID-19 globally, leading to services sectors and brands cutting back on advertising spends.
Remarking on this move, Nisha Narayanan, Director & COO, RED FM and Magic FM, said, “The industry has collectively asked for a three-pronged bailout package till the economy stabilses. This included a one-year moratorium on all licence fees and charges by the Government and Prasar Bharti, and restoration of government advertising on radio, besides clearing the long-pending payments from the Directorate of Advertising and Visual Publicity. We hope that the Government helps restore normalcy in this sector in these desperate times.”