Dainik Bhaskar tunes into the right channel

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When most of the players in the Indian media industry are finding it hard to stay afloat (thanks to a sharp decline in ad spending by Indian advertisers), there’s some good news flowing in for Dainik Bhaskar Group. Its radio station My FM has just achieved the break even, well before the estimated time. Moreover, while the company’s net revenue during the quarter was up by 46% (y-o-y), its operating profit was up by 99% for the quarter. So, what has made it taste such success, when other radio brands like Big FM, with largest network, have failed to break even? “A mix of its excellent listener understanding and strategic marketing which allowed us to tap into new listeners as well as a new genre of radio advertisers,” reasons Harish M. Bhatia, COO, 94.3 My FM. No doubt, as pointed out by Harish, extensive market research has really helped the radio station. The radio channel conducted three major Radio Surveys in the various markets where it has presence and based on the insights, packaged its offering to the local consumer. The surveys revealed that even in cities within the same state, people have different taste and flavour for music. Thus, a customisation of the product varying from city to city basis has helped MY FM to be a leader in 15 out of the 17 markets it operates in, despite the presence of older and national radio channels in these markets. Moreover, as a part of a deliberate business strategy MY FM operates only in tier 2 & tier 3 cities. In fact, these are the markets where Dainik Bhaskar, the newspaper, has a strong hold. Also a strategic effort to convince non-radio advertisers about the benefits of the medium and getting them on board has helped it churn smile for its stakeholders.

Pallavi Srivastava

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Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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