MUMBAI: Apart from the very recent announcement of economic reforms, the country is expecting a growth rate of around only five percent for FY 13 against growth of eight per cent in FY 12. Amidst the gloom, Big FM is seeing the current economic recession as an opportunity in disguise.

Big FM CEO Tarun Katial believes that the economic slump is an opportunity for his radio station not only to consolidate and broaden listener base with innovation and quality but also provide mileage for advertisers and brands seeking to maximize their ad spends.

At the macro-level too, the radio industry being a mass media player whose main source of revenue is advertisements- can leverage the downturn to come up on top.

“We actually see the economic slowdown as an opportunity. Brands today need more for every penny that they are spending; they also need to drive engagement with their consumers at a local market level. Radio with its mass localized reach is poised to grow in this environment,” Katial told Radioandmusic.com.

To turn the economic slowdown to its advantage Big FM will focus on its wide network of more than 45 stations nationwide to give advertisers more bang for their advertising and marketing buck. It in fact expects that its strong regional content with ‘locally relevant product’ will result in growth in the different markets it operates in.

“Innovative and high quality content is key to drive both stickiness as well as reach. We have seen great success with the story telling format for the first time on radio with ‘Yaadon Ka Idiot Box’ with Neelesh Misra. This show has become a driver for new listeners across our Hindi speaking markets. The show has been rated highly and we have seen listeners wanting to listen to this show even from the markets in South. We are also working on a network show across our 45 stations that will be extremely unique and deliver huge value for listeners as well as advertisers,” Katial said.

At the macro level, radio is poised for a larger play with the Phase III.

AROI (Association of Radio Operators for India) the governing body of Radio Broadcasters is a close knit body and all broadcasters are working together to make the best of Phase III radio expansion, he added.