Rewind 2023: Noticeable fatigue due to constant use of digital media - Nisha Narayanan

It’s time to review the most significant industry developments as the year 2023 draws to a close. Adgully is reviewing the year 2023 for M&E, Advertising, Digital, Marketing, PR, and communications, along with leading names in the industry as part of its annual Rewind series.

Recapping the year 2023, Nisha Narayanan, COO & Director, Red FM & Magic FM, speaks at length about the dynamic changes seen in the Media, Marketing and Advertising ecosystem in India in 2023; radio industry trends this year; launching first ever on-air Quiz India Movement; expectations from 2024, and much more…

Media, Marketing and Advertising ecosystem in India in 2023

Nisha Narayanan noted that the year 2023 witnessed dynamic changes in India’s Media, Marketing, and Advertising ecosystem. Digital media continued to surge, prompting a revaluation of strategies amidst a noticeable fatigue from constant exposure of digital platforms, she added.

This shift led to a renewed interest in traditional media, as consumers sought a more balanced experience. The industry responded by embracing a dual approach, integrating digital innovation with the enduring appeal of traditional mediums.

Narayanan further said, “Being a key player in the Radio landscape, we at Red FM embraced this changing dynamic by offering diverse and refreshing content, becoming a focal point for brands and advertisers. Experiential marketing and events played an essential role in our marketing strategy, encouraging meaningful touch-points with the audience. Overall, 2023 showcased the spirit and adaptability of the industry, emphasising the importance of a balanced and integrated media strategy.”

Key trends and developments in 2023

According to Narayanan, one development that marked the year was TRAI’s recent mid-year recommendations for the private radio sector signifying a significant shift, proposing crucial changes to foster industry growth and competition. Notably, these recommendations are a supporter for the elimination of an annual license fee clause, empowering private FM radio players to venture into news and current affairs programming, and mandating the inclusion of FM radio in mobile handsets.

She added, “Once these are implemented, the industry will streamline market entry, intensify competition, and diversify content offerings. New players entering the industry may find it easier to establish themselves, consequently expanding the reach of radio platforms. This would result in a wave of innovation, encouraging the introduction of non-music stations and a broader spectrum of advertisers.”

Red FM’s performance in 2023

Narayanan informed that “In 2023, Red FM remained committed to innovation, redefining our approach across on-air, digital, and experiential realms. The shift in media consumption had rapidly moved away from traditional methods to digital platforms. However, a noticeable fatigue had set in among people due to the constant use of social and digital media. This, in return, led audiences to get back to the comfort of reliable traditional mediums, offering respite from the overwhelming nature of digital options.”

“Red FM anticipated the need to provide refreshing content for its listeners, through multiple mediums, that led to the launch of ‘Quiz India Movement’, the first-ever live on-air quiz, which became a highlight this year for us. On a parallel note, we punctuated the year with an array of experiential festivals that transcend conventional music events,” she added. From Swag Fest, a Punjabi-Pop Music Festival, to South Side Story, an Ultimate South Indian Experience Festival, to Season 4 of The Kavi Collective, a celebration of poetry in diverse forms, Red FM has consistently demonstrated a commitment to diversity and inclusivity. Initiatives, such as Meme Machao, Teen Rang Tawang, and Guts and Glory Salute 71, reflect a multifaceted approach to engage audiences and celebrate cultural richness.

She further said that Red FM has evolved itself into a holistic entertainer brand, with verticals on-air, on digital, and on-ground. “We have been working extensively towards curating experiences that unite diverse communities that align with our motto of uplifting regional content too. Overall, staying ahead in the ever-evolving groove of the industry has been the standard for setting our brand apart,” she added.

Narayanan concluded by saying, “In the competitive media landscape, we take pride in connecting our clients with the appropriate audience, delivering a high share of voice. The renewed confidence in radio positions Red FM as not just broadcasters, but content creators and enablers of unique consumer experiences.”