I try to do a post about the state of radio in India on a fairly regular basis. One reason for this is that I think a global view of the industry is required in order to have a reasonably complete idea of what is going on. Another is that India is adopting technology at a much faster rate than here in the U.S. This provides an interesting window on affairs.
Numbers released on Monday on Radio and Music.com paint a rosy picture:
Radio One posts 92 per cent growth in revenues in the quarter ended 30 September 2008, over the corresponding period last year.
In a media release, the company maintains that this makes Radio One the fastest growing in ‘rate of revenue growth in the radio sector as compared to last years financials’
The company’s PBT operations for the half year ended 30 September have indicated a growth of 117 per cent over the corresponding period last year. In the first quarter, Radio one had announced a growth of 85 per cent over the corresponding period last year.
Estimates indicate that the radio sector has grown 27 per cent (in the six metros that radio One operates) over last year’s net revenue figures. Radio One operates in six cities – Mumbai, Delhi, Bangalore, Chennai, Pune and Ahmedabad and is slated to launch in Kolkata by December this year.
I would say that 117 percent is a fairly respectable number, wouldn’t you? When taking a global view, something impossible to avoid in the Information Age, I would say this is a heartening trend. A trend that I predict will continue to grow and expand.
Radio is booming hand in hand with the cutting edge of technology. As I have written in the past, in order to compete in this huge mobile market, a radio tuner is essential. It is a perfect example of what I mean when I speak of the two evolving in tandem.