NOT AN EASY BULL TO RIDE
Posted by dearsonu on October 27, 2006
IIPM MANAGEMENT INSTITUTE
According to the CII & KPMG industry report (Focus 2010 : Dreams to reality), the radio industry in India cumulatively generated Rs.2.5 billion during 2005 and with annual growth hovering around 20%, and the potential to generate Rs.8 billion annually by 2008. There are 21 other private radio channels (like RED FM, Radio Mirchi, Radio City & 95 FM) that have been granted legal operational rights during the past four years. But despite the wave of revival sweeping across this sector, total advertising spends on radio in India still remains a paltry 2%, while according to KPMG analysts, it should have exceeded 5% by now. The share of total advertisement spending by retailers in India is just a minuscule 8%, while it exceeds levels of 70% in the USA – even when it costs just 15% less to advertise over radio (with 60% more efficiency with respect to television). Certainly, many corporates are jumping on to the bandwagon, but few will be able to stand out and survive.
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Source : IIPM Editorial, 2006, Arindam Chaudhuri’s Initiative
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