My FM outperforms all radio stations
MUMBAI: My FM, India's local FM network and the radio business of DB Corp Limited, India’s largest print media group amongst national dailies, posted an encouraging Q4 FY12-13 performance recording a YoY EBIDTA Growth of 27 per cent for Q4 from Rs 52.2 million to Rs 66.3 million while EBIDTA Growth for full year FY 13 is accounted at 74 per cent reflecting a substantial increase from Rs 123.4 million to Rs 214.2 million.
EBIT for the Qtr 4 period under review is at Rs 40 million as against Rs 26.1 million in the previous year and hence a growth of 53% for the quarter ending March 2013. During the quarter 94.3 MY FM's business strategy that focuses heavily on customer & consumer centric initiatives has delivered value constantly ensuring a healthy YOY EBIT Growth for full year FY 13, which stands at 568 per cent -- a staggering increase from Rs 16 million to Rs 107 million.
MY FM's revenue for Q4 has witnessed a growth of 25 per cent, having recorded an impressive increase at Rs 183 million as against Rs 146 million for the previous year fiscal. Full year FY 13 revenue stands at Rs 667 million up from Rs 555 million for the previous financial year, a growth of more than 20 per cent. Customer and listener behavior and preferences were monitored very closely and distilled into various initiatives ranging from music testing to identify and offer music of listener choice, creating an effective customer satisfaction tracking system to garner instant feedback for the advertisers on their campaign, as well as customer knowledge building initiative where the station shares consumer insights, educating advertisers on how to use the medium effectively for their brand & campaigns, have all yielded positive results for the station.
My FM CEO Harrish M Bhatia said, “Over the year we have improved on our operational efficiency and productivity, which laid a solid foundation for our growth. We are extremely encouraged by our EBIT growth of 533 per cent over YTD12-13. MY FM’s strong performance has been led through significant investment in content creation and path breaking innovations, the strong connect with its listeners through its brand philosophy, “Jiyo Dil Se” has placed MY FM on the top list amongst all other radio stations. We are on the cusp of a major expansion in the radio business with the announcement of the Phase III of Private FM radio policy expected soon. We look forward to this expansion.”
