MY FM (DB Corp) raises radio advertisement rates by 15%

BHOPAL | AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the exchanges in India on Monday, DB Corp Ltd said of having hiked advertisement rates on radio by 15%, with effect from 15th November, 2018 – Thursday.

DB Corp Limited (DBCL), print media company and home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, announced today that its radio division MY FM has increased its ad rates by 15 per cent across key-markets.

The hike is effective is” November 2018 backed by strong growth in listenership across its key markets including Ahmedabad, Chandigarh, Jaipur, Indore, Bhopal, Nagpur, Raipur, Surat, Nashik, Aurangabad and Rajkot.


WHY THE TARIFF HIKE?

MY FM conducted Music test researches across it key markets, supplemented by in-depth consumer research to further strengthen product offerings that were undertaken over the last few months.

Owing to its strong local connect and various product enhancement initiatives, the network has seen considerable growth and traction over the last few months.

MY FM has been able to consolidate its leadership position across all key markets, which has widened the gap with the No. 2 player in each market.

The hike has been initiated in line with MY FM’s constant endeavor to bring the best of content and listening experience for its audience.


Speaking on the development, Rahul Namjoshi, Business Head, MY FM, said,

“Our priority has always been to deliver innovative content to our listeners. We are the No. 1 radio station across all markets that we operate in, which is a testimony of our strong connect with our audience. In fact, our RJs across these markets have a huge fan base on the digital medium with a few RJ videos having over 10 million views. Over the last few months, we have witnessed significant demand in advertisements and consequently rising inventory pressure. The increase in rates is backed by higher listenership and superior content as we remain focussed on our core attempt in building a strong brand and on delivering the most innovative content to our audience. The price hike will help us to continue offering an enjoyable listening experience for our listeners and deliver stronger ROI for advertisers”.


Announcement from the company had hit the bourses, while trading session was in full-swing and immediately after the announcement hit the exchanges, investors & traders witnessed instant upward spike in the share prices and company shares were seen trading in GREEN Zone, further ending on POSITIVE counters, as the trading session for the day ended.


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