Radio City targets 30% share in 2 years
Radio City is targeting a market share of 30 per cent of the FM radio market, which is estimated to be Rs 600 crore in the next two years, according to Ms Apurva Purohit, CEO, Radio City.
She said that currently the FM radio market is about Rs 250 crore and Radio City has a 40 per cent share. This year with more FM licences being awarded, the FM radio market is likely to be about Rs 350 crore.
She was talking to reporters at the launch of Radio City 105.8 FM in Chennai. Ms Purohit said that the company had done extensive research on listeners' preferences and research has shown that most listeners are partial to film music.
The programming would be city-specific with customised Tamil and English programming, reflecting the `true sound of Chennai'. It will also be tying up with the police department for traffic updates.
Ms Purohit said that Radio City would go beyond traffic updates and take up social issues. In Bangalore, for instance, the station campaigns for more car pools to reduce the traffic density on the roads.
Music Broadcast Pvt Ltd, funded by India Value Fund, promotes Radio City, which is present in Mumbai, Delhi, Bangalore, Lucknow and Hyderabad. In the second phase of expansion of FM Radio, Radio City has bagged the licences to broadcast in 16 more cities. Radio stations will open soon in Jaipur, Coimbatore, Visakhapatnam, Pune, Ahmedabad, Surat and Nagpur apart from smaller towns in western India.
Chennai gets a fourth FM channel, with Radio City at 105.8 MHz. Chennai already has Radio Mirchi 98.30 MHz, Suriyan FM 93.8 MHz and Raibow FM 107.1 MHz as commercial FM stations. Other than this Anna University (90.4 MHz), Loyola (90.8MHz), MOP Vaishnava(91.2 MHz) colleges too have their FM channels, though I haven't listened to any of them.
Radio City was originally promoted by STAR, and now is owned by Music Broadcast Pvt Ltd, part of GW Capital which bought out STAR's stake.
She was speaking to media persons after the launch of Radio City, here, yesterday. Actor Surya lit the traditional lamp to mark the inauguration of India's first and leading FM radio brand.
Promoted by Music Broadcast Private Limited, Radio City was recently launched in Hyderabad. 'The feedback from Hyderabad shows that Radio city is doing extremely well', Apurva said.
Radio City will soon be launched in 16 more cities in the country. Apart from music, Radio City will air programmes on current affairs and plans to take up take up social initiatives like the campaign against plastics started by Radio City Lucknow.
'All our RJ's are college students or those who just passed out from college. The young people will surely find it interesting to talk to them', Apurva added. 'Namma City namma life', is the essence and spirit of radio city.