Radio being the pioneer of wireless communication, began as a marvel of the 20th century, transmitting voices and music across the airwaves to receivers worldwide. This year marked the century of the medium, thus revolutionizing the way news and entertainment are consumed across the world.
Ashit Kukian, CEO of Radio City in a one-on-one interaction with MI, where he talks about the brand’s reach and revenue. Ashit also points out a ‘deeper penetration’ in existing cities as and when the government releases new batches of licenses. The conversation dug deep into Radigitalization and its challenges too. “Radigitalization is a way of reaching out to consumers along with the medium of radio per se.” Adds Ashit.
Excerpts here:
Q) How was this financial year 2023-24 for Radio City? What do you expect from the coming year?
Ashit: The current year is yet to close. However, the last 3 quarters have been good showing double-digit growth quarter – on quarter. We hope the coming quarter will also result in good considering the elections around the corner.
We have always been bullish about our business for two things. One is of course about the radio part. And the other is the digital and on-ground activities that we have been doing for the last two to three years. We have observed considerable growth in this medium. We have been investing a lot in seeding for this, we call it the ‘Radigitalization’ strategy of Radio City.
Q) The 2024 Lok Sabha elections are around the corner. Considering the huge advertisement campaigns it undertakes, what expectations do you have in terms of growth in the revenue figures?
Ashit: In every election, there is a significant amount of money spent on campaigns. It also reflects on our quarter-on-quarter revenues. We are confident that revenue will increase to 10% in this quarter.
Also, read Radio City Celebrates ‘100 Saal Radiopanti Ke’ on World Radio Day
Q) Radio City reaches out to over 69 million listeners in 34 cities as per a report of 2019. Has the figure changed recently?
Ashit: The last listenership was conducted during the post-COVID scenario for selected markets. Since then, I believe there has been an increase in the figures considering the time consumers spend on media. People consume radio as a medium across the length and breadth of the country. Moreover, the increase in population is also a driving factor of listenership.
Q) What kind of content are you coming with to compete with the market?
Ashit: We have always been relevant to the market and our listeners. We are very close to the sentiments of a particular city with our content variations. There is a lot of local content that reflects the ethos of the people of that city. Apart from music, which is a private source for all radio stations, we cater a large number of relevant content to the consumer. I am using the word ‘consumer’ instead of ‘listeners’ because we deliver content that is beyond radio.
Q) With the presence of podcasts and OTTs, how have the audiences of the radio been affected?
Ashit: No, it is not affected. The total time spent on the medium remains the same even after all this. Newer platforms come in the market and people start consuming the content. This only gives me an opportunity to create more content and distribute them across mediums and platforms. So, we are extending our reach beyond radio.
Q) This year marked the century of radio. How do you think the medium has evolved and become important as an authentic channel for widespread information and entertainment?
Ashit: Though we are a hundred years young, I believe the medium is just as relevant today as it was when it first began. The kind of work we all are doing as an industry is adding up a lot of value for our listeners. Being a personal medium, radio is serving relevant content to its listeners. I am here speaking on behalf of the fraternity – Radio has always been a responsible medium and we are the first to be with the authorities to give respite to the people during natural calamities. This is the only medium that reaches to the roots of the country and is fairly different from most of the mediums in perspective of its reach.
Q) How has the penetration expanded in the tier 2 and 3 cities?
Ashit: Today, radio medium reaches approximately 65% of the country. And, as the government releases new frequencies, it would become one of the largest penetrating mediums from a mass perspective.
Radio City is present in 70% of the markets from a count perspective in the advertisement arena. Unlike our competitors, we are not large in number, but we are present in all critical markets that consumers and brands look at.
Q) How has Radigitalization changed the way people used to consume content on radio?
Ashit: Radigitalization is a way of life. What we are doing is to just reflect the consumer perspective. We believe that we are a marketing solutions company and give brands an opportunity to engage with consumers. The engagement of consumers is happening in the consumer’s choice of media or platform. Radigitalization is a way of reaching out to consumers along with the medium of radio per se.
Today, we are present on social and other digital platforms, and reach out to consumers because brands want it their way. As content creators, we understand what consumers want. If you look at our on-air content apart from digital radio, you’ll notice that you’re all engaged in digital activities that go along with radio. I don’t think there’s any challenge, but opportunities, with radigitalization. It will ensure your digital learning, allowing you to enter the market where you can capture consumer trends as they happen. It’s fun, and opportunity and creates more value for both the brand and the consumer.
Q) In late 2023, Radio City launched its AI RJ Sia. What kind of response have you garnered from the audience with such an innovative initiative?
Ashit: We are reflecting on the consumer journey. If the consumer today is engaging with virtual reality and AI-led content, nothing stops us from giving them such content. AI RJ Sia is a reflection of the changing habits of consumers who consume content through technology. However, we have maintained a perfect balance by not utilizing all technology, because radio still remains an emotional quotient for people. So, the balance of both EQ and the advancement of technology is what we are currently delivering. In the future when consumers become more technology-driven, possibly you’ll see a lot of changes in us.
Q) As per Pitch Madison Advertising Report 2024, the ‘Radio Adex has grown by 12% to reach Rs. 2,272 crores, to finally surpass its pre-Covid level’. How do you see this growth and where do you see the numbers in 2024-25?
Ashit: The volumes have shown surpassing the pre-Covid level. The yield is also steadily increasing. So, it’s a good sign, and we should look forward to better times. We will be increasing the number in the coming months.
Q) We learned about Vaibhav Gupta and his connection with Radio City, where he started working with. Do you think Radio City as a responsible platform played a role in such a success story? How do you think these stories help your platform make a mark in the industry?
Ashit: While the success is all Vaibhav’s, I don’t think anybody should take the success away from him. But we take a lot of pride in creating tremendous opportunities for not just Vaibhav Gupta, but many other talented people across the years. We add value to their lives by having professional singers guide and shape them.
Also, read Meet RJ SIA – The AI Radio Companion; Radio City’s addition to Future of Radio
Q) Tell us about your further expansion plan.
Ashit: We will continue to strengthen our radio presence and at the same time expand ourselves digitally. We are exploring various digital opportunities to increase our presence in the consumer space thereby enabling brands to engage with consumers.
We have a plan to expand our presence in the country vigorously, as, and when the next phase of new licences drops. We would possibly have deeper penetration in some of the existing states where we are currently present.
Q) What is the future of radio?
Ashit: Radio will be seen from a different perspective. With technology entering a consumer’s life and making digitalization easier for all of us, there is a radical shift taking place in media itself. In this changing consumer and media landscape, I believe that the radigitalization space of radio would appeal to the majority of consumers and that brands would want to be associated with it as well.
