Radio One 94.3 FM has recorded a 72 per cent increase in revenue since the beginning of the financial year, according to its third quarter results.
Radio One 94.3 FM has recorded a 72 per cent increase in revenue since the beginning of the financial year, according to its third quarter results.
In the third quarter, which ended December 2008, Radio One a joint venture between Mid-day Multimedia and BBC Worldwideu00a0grew 49 per cent as against the corresponding quarter of the previous year.
The company attributed its success during the slowdown to 'targeted listenership', 'efficiency pricing', and 'stringent cost control'.
Lower costs
Radio One's new stations (Ahmedabad, Pune and Kolkata) operate with an average of less than 14 people each. Its all-India costs are lower than the industry average by 39 per cent, a press release said.
"Our all-India head count in seven cities is 144u00a0 against the industry average of 235-250... Our marketing and advertising costs are not even 20 per cent of the industry average," said Vineet Singh Hukmani, CEO, Radio One.
Recession and the high cost of music are pulling the radio industry down, and the government should step in and heed its request for extension of the licence fee period from 10 to 15 years, he said.
Singh described 2009 as "the year that the I&B ministry will make or break the radio industry".
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