In India, radio has been an important mode of advertisement ever since the inception of the first two radio stations in Bombay (Now Mumbai) and Calcutta (Now Kolkata) in 1927. In 1999, privatization in FM radio industry started with Phase-I auction. However, the auction witnessed little success with only 21 radio channel launched in that year. The phase-II auction policy, which came into effect in 2005, provided the required boost to the industry with Indian government allocating licenses to 245 operators. However, with the upcoming Phase III auctions the more new licenses are expected to be allocated which would further drive the market for FM Radio Stations in India.
According to TechSci Research report “India FM Radio Industry Forecast & Opportunities, 2019”, the country’s FM radio industry is forecast to reach USD656 million by 2019. Over the last five years, Delhi/NCR, followed by Maharashtra have emerged as the leading markets for FM radio in the country. This is mainly attributed to the large number of FM radio listeners living in these regions. The Phase-III auction policy, which is expected to rollout over 800 radio channel licenses across 227 new cities, is forecast to significantly expedite the reach of FM radio industry in tier-2 and tier-3 cities during the next five years. The report reveals that major companies operating in the country’s FM radio market include public player Prasar Bharati, and private players such as Entertainment Network (India) Limited, Sun TV Network Limited, Reliance Broadcast Network Limited, Music Broadcast Private Limited and D.B. Corp. Ltd.
“The expansion of radio stations in tier-2 and tier-3 cities with Phase-III auction policy coupled with diversification of content for varied listener interests are offering latent growth opportunities in India’s FM radio industry. Further, the emergence of internet radio along with growing use of smartphones in the country is also expected to boost radio industry in India, especially in urban cities.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Alternate advertisement channels such as promotion of concerts, plays, product demonstrations and other live events such as music awards, sports events and youth events, which are directed towards creating a direct customer connect, are also contributing to the growth in FM radio industry in India.”, said Mr. Chechi.
“India FM Radio Industry Forecast & Opportunities, 2019” has evaluated the future growth potential of FM radio market across India, and provides statistics and information on market structure, market trends, market size, etc. The report includes FM radio projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers in taking sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in the Indian FM radio industry.