MUMBAI: Last month, Radio One and My FM announced a hike in ad rates. Following in their footsteps is Big FM, which will also be hiking its ad rates by 30-35 per cent across key markets, as it enters the new financial year. However, Big FM is looking at around a 20-25 per cent ad hike across their stations, nationally.
Commenting on the hike, Big FM national business head Ashwin Padmanabhan said, “We are clearly looking at a hike in the coming financial years. We have started implementing it among the new customers; meanwhile we are speaking to our existing customers.” The network hiked its ad rates last year, in May-June.
Padmanabhan feels that next year will be positive not just for Big FM, but for the radio industry. The medium has witnessed growing ad revenue in the last financial year. According to the annual Pitch Madison Media Advertising Outlook 2015, radio advertising grew by 17 per cent, which is two per cent higher as compared to last year’s projection of 15 per cent. The report stated that the growth was due to the five state-level elections and the 2014 General Elections.
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However, Padmanabhan claims that radio advertising revenue has also grown due to new businesses and a growing economy. “Radio stations other than Big FM are running on 200 per cent of their normal inventories. That is a clear sign of two things- brands are accepting radio as a medium for main stream promotion and that the economy is on an upswing. There are more businesses launching in the country and radio is a good platform for these brands to expand across the nation.” He also stated that the radio industry does not really have to worry about the fact that there will be no elections in the coming year.
The network witnessed an average growth of 30-40 per cent year on year. He said, “We want to continue growing in the same pace even in the next year.” He also clarified that the Phase III expansion plan will not hinder their day-to-day activities.
The network will stick to programming its station based on its exiting format. Without offering too many details, Padmanabhan said, “We will unveil a couple of programs in the coming few weeks. We are in talks with many content providers and also personalities who can deliver these concepts on air.” In the past, the radio network re-vamped its morning show ‘Seher’ by bringing on board Anup Jalota. The network is targeting content that will match its format and standard, so it does not matter if it is in-house or outsourced content, specified Padmanabhan.
Big FM will also be signing local talents and artistes that are “relevant and important”. According to Padmanabhan, this is very important for a local and large medium like radio.
Recently, the network was ranked as the most trusted brand in the Media (radio) category at the recently announced Brand Trust Report 2015. The brand has taken the top-most trusted slot in India, maintaining a lead of 14 ranks over the next brand. This is the first time that an FM Radio brand has made it to the list. TRA has been publishing India’s most trusted brands in the Brand Trust Report for the last four years consecutively.
