MY FM to hike ad rates by 20% from 1 April
MUMBAI: DB Corp’s FM radio brand MY FM has said that it has increased its advertising rates by 20% effective April 1.
Commenting on the rate hike, MY FM business head Rahul Namjoshi said, “The decision to hike rates is taken to maintain the listening experience, inventory levels are peaking across all radio channels.
“The inventory crunch comes as a reflection of changing market dynamics, with advertisers – both retail and national, realizing the effectiveness and efficiency of the medium.”
Namjoshi said that radio is the only medium where ad avoidance is minimum in comparison to other media. It is not just a frequency medium but also helps in brand building.
He also added that the hike in ad rates is in the range of 15 to 20%, depending on the city, and taking into account the gaps and inventory required to ensure listening experience.
For the third quarter ended 31 December, DB Corp’s EBITDA from the radio business was down 34.3% to Rs 9.7 crore as against Rs 14.8 crore. Radio ad revenue declined 7.6% to Rs 33.6 crore from Rs 36.3 crore.