MUMBAI: Music Broadcast Limited (MBL), which operates Radio City FM Network, has reported 11 per cent revenue growth for the third quarter to Rs 60.4 crores compared to the same quarter of the previous fiscal. EBITDA was Rs. 15.3 crores a five per cent growth. This marked a five per cent growth. EBIDTA margin was 25.3 per cent.
For the nine month period revenue was Rs 165.9 crores a 13 per cent growth. EBITDA stood at Rs. 40.1 crores; a 25 per cent year on year growth. The EBIDTA margin stood at 24.2 per cent. It added that it maintained a strong position with 19% volume market share
Director Shailesh Gupta said, “I am pleased to share that our revenues experienced an 11 per cent growth in the Q3FY24 with EBITDA margins at 25.3 per cent. Our focus continues towards the digital business which has a significant growth moving forward. At Radio City, we’ve executed a range of strategies to expand our positioning in the radio industry. According to Aircheck 15 markets, in the third quarter, we successfully retained our market share at 19%. Additionally, our comprehensive omni-channel framework allows us to maximize the extensive reach of our networks, ensuring the delivery of optimal value to our clients.”
About the growth in the advertising sector, the real estate industry experienced a notable 17% year-on-year increase in spending. The pharmaceutical industry expanded by 15 per cent, while the auto industry demonstrated an impressive growth of 26 per cent compared to the previous year. On the finance side, the industry experienced a 9% growth. Meanwhile, on the Jewellery front we witnessed a massive growth of 44%, and government advertising also saw a good growth of 22 per cent YoY.
In Q3FY24, our digital business witnessed a growth of 27 per cent Y-o-Y. We are aligning ourselves with the ever-changing media landscape, one that is indifferent to specific platforms, with a central focus on digital for content creation, distribution, consumption, and engagement. To ensure a smooth experience across diverse platforms, we are strengthening our capabilities to stand at the forefront of the digital technology revolution. This involves delivering top-tier entertainment that resonates with the evolving preferences and needs of our audience.
Radio City added that it remains a preferred choice for both longstanding and recently acquired clients in the field of radio advertising. For Q3, out of the overall client base utilising the radio platform, 39 per cent have selected Radio City for their ad campaigns. Additionally, among the newly acquired clients in the radio domain, 31 per cent have specifically chosen to feature their ads on Radio City.
The company added that it derives 31 per cent of income from offerings, that includes, proactive proposals, digital initiatives, sponsorships, and special events.
