Today Broadcasting, a 100 per cent subsidairy of the India Today Group, will have its radio venture on air in the next few months. The company has hired Fortune, JWT's second agency, for the communication needs of the venture.
Fortune won the pitch over competitors such as Grey Worldwide and Contract, which is also a part of the JWT group. The decision to award the business to Fortune was taken on the basis of three criteria - past credentials, creative presentation and strategic planning.
Radio Today Broadcasting has still not decided on the brand for the new venture; it is expected that Fortune will work on it now.
Anil Srivatsa, COO, Radio Today, confirmed the news to agencyfaqs! "Fortune fit better with our brand needs as compared with the other agencies that were in the fray. Its ideas were more in sync with the vision that we have for this venture," says Srivatsa.
As the radio business is already cluttered, Fortune's challenge will be to work on creatives that stand out in the market.
Harjot Narang, branch manager, Fortune Communications, Delhi, says, "Winning a media business is itself exciting. Besides, working on a radio brand will be more challenging as the market is expected to witness fragmentation and proliferation, especially when the listener base has been steady for some time."
When asked about the size of the business, Narang says it's too early to put a size to the account. He says, "The entire plan is still at a very nascent stage and only when the entire framework has been worked out will a decision will be taken on the advertising spends."
According to Srivatsa, the new radio station will have more talk shows and less music than the other stations. This will differentiate its content from the other radio stations available today.
Radio Today Broadcasting had applied for radio licences in the second phase of bidding, following which it won the bid for seven cities - Amritsar, Jodhpur, Patiala, Shimla, Mumbai, Delhi and Kolkata.
Earlier, the company owned the radio brand, Red FM, which was later taken over by a consortium formed by Value Labs, Malaysia's Astro and NDTV.
© 2007 agencyfaqs!