afaqs! news bureau

Radio One's first quarter revenue goes up by 14 per cent

The radio station's first quarter revenue this year has been recorded at Rs 11.13 crore.

Radio one, a joint venture between Next Mediaworks and BBC Worldwide, has registered a growth of 14 per cent in the first quarter of 2011. The FM station recorded revenue worth Rs 11.13 crore this quarter, an increase of Rs 1.34 crore over the first quarter revenue last year.

Radio One's first quarter revenue goes up by 14 per cent
Radio One's first quarter revenue goes up by 14 per cent
The loss before tax in the first quarter of the current year was lower by 79 per cent as compared to the same period last year.

In an official communiqué, Tariq Ansari, chairman and managing director, Next Mediaworks, says, "The first quarter of the year has been a challenging one for the radio industry, but I am happy to see that we have been able to grow our top line by 14 per cent. As we approach Phase III of the FM licensing regime, Radio One is finding innovative ways to stay ahead of the market in listenership and revenue development."

He further adds that promoters are shortly expected to infuse more funding into Next Mediaworks, in order to strengthen the balance sheet of the company and prepare for the next round of auctions. "This is an exciting time for the radio industry, and Radio One will be at the forefront of these developments," says Ansari.

Vineet Singh Hukmani, managing director, Radio One, says, "Sensing the slight revenue slowdown in Mumbai and Delhi, we have been able to secure regional and local revenues as planned. We have pioneered a new revenue stream in the music concert space, with seven concerts already under our belt in various cities. With the metros already with us, and breakeven within our grasp, we will expand wisely into more metros in Phase III with our low-cost model."

Radio One (94.3 FM) has a presence in seven cities including Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Ahmedabad and Pune.

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