New Delhi : Followed by Radio One, which implemented 25% ad rate hike couple of days before, Dainik Bhaskar group’s FM radio brand 94.3 MY FM also said it will increase advertising rates across all its 17 stations by 25 per cent.
The ad rate hike of both Radio One and MY FM are effect from 1st February 2016.
The decision to hike rates of MY FM has been taken to address the current inventory crunch, the company said in a statement.
Launched in 2006, MY FM is present in 17 Tier II and III cities across seven states and the rate revision is applicable for all stations.
“Our inventory has been peaking and increase in ad rates is the only way to balance, we want to deliver a good listening experience to the listeners and better return on investment to our advertiser,” 94.3 MY FM Chief Executive Officer Harish Bhatia said.
“Our markets are growing at an exponential pace and many smart advertisers have realised that radio is the most effective way of reaching out to the audiences,” he added.
Radio is an integral part of all media plans and there is a huge potential for radio in the Indian pie to grow significantly to come closer to the global average of 8-9 per cent of media spends, the statement said.
