94.3 MY FM exploits 'Bharat's' growth
MUMBAI: Bharat has been growing while India reels under pressure. Time and again economic indices have pointed to a robust, vibrant growth in the hinterland as compared to the so called ‘upwardly mobile’ metros. Quick analysis of the Q3 results that have been posted by the various players in the Radio industry also reflect this trend. D B Corp Ltd. – Radio Business 94.3 MY FM has come out in the 3rd quarter with a healthy 22% growth in the revenue over the corresponding period while the revenues of the rest of the national radio players have dipped or almost static revenues over the corresponding period of last year.
Mr. Harrish M Bhatia, the CEO of 94.3 MY FM, while reflecting on the period that not only got his company better revenues but also a phenomenal 555% higher EBIT said, “We have always believed in the growth story and economic vibrancy of the 17 non-metro markets that we operate out of.” The surge in the demand for consumer goods, services, FMCG products, better education avenues etc makes the non-metro markets interesting and rewarding for marketers. However, converting this into advertising on radio has not been the only trick that got MY FM here. Mr. Bhatia kept pushing his teams to tap the local retail market and strategically, he built capabilities and competencies not only within his people but also the local retailers to use radio as a medium to garner more footfalls. “It’s taken a lot of planning and effective execution to deliver promise”, says Harrish M. Bhatia.
A constant engagement with listeners through initiatives such as the record-breaking 12hrs Music Marathon & Ek Koshish – an international award winning CSR property; structured researches like the quarterly Ormax brand track, auditorium music testing, weekly song testing and regular content testing through dedicated internal research team enables MY FM to understand listener needs & preferences to keep them ahead of the curve by offering newer and better content that’s relevant & engaging.
MY FM also differentiates itself on the content level by offering unique & exclusive contents like the daily song request show – Dil Chahta Hai, My Ramayana and Murari Babu for the spiritually inclined, non-stop weekend music show by renowned DJ NYK, a weekend lineup of shows like My Vastu & Choota RJ - a show hosted by kids, a local Top 30 countdown in each city etc to ensure that the listeners stay hooked and connected.
The beliefs and initiatives of MY FM have benefited from the fact that Radio consumption in these markets is high as compared to the metros. RAM data has been indicating this trend and the inclusion of more non-metro cities in the listenership audits have only ratified the fact that the time spent on Radio in these markets far exceeds all other medium.