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Red FM hikes ad rates
MUMBAI: Given the growth of its network, Red FM has revised its airtime rates and announced new advertising tariffs for existing and new stations.
The annual review of advertising tariffs at Red FM has resulted in a rate hike of 15–20%. It is based on a careful strategy that is founded on the growth of the brand along with the spread of the network.
Red FM COO Nisha Narayanan said, “While the incline is noticeable in metros, the moderate upward correction in small and medium cities is mostly an output of the network’s evolution, in addition to the proven mix of content and music. Having said that, the ultimate goal to make radio a feasible and flexible medium of advertising has not fallen out of focus.”
The fresh advertising tariffs are also said to be an indicator of improving preferences for radio in urban centres. For Narayanan, radio being a double-digit growth segment within the M&E industry is not the only conducive factor that Red FM is banking upon.
“There are more organic and imminent markers like new station launches, frequent inventory surges and increasing audience loyalties. These are the drivers that truly help Red FM’s clients to tune in for consumer capture,” she pointed out.
The content and revenue leadership strategy of Red FM for FY17–18 is based on two specific goals. The station aims to become a well-differentiated, formidable competitor to existing players in the market and also wants to strengthen its presence in newer cities with decisive speed.
The FM radio network recently announced that its Amritsar, Chandigarh, Surat and Patna stations would also offer the ‘Bajaate Raho’ experience. Red FM is preparing to transmit in full strength to 56 cities by August 2017.