Radio industry is expected to grow by 16.1 per cent in 2018 as per KPMG’s report, whereas GroupM’s TYNY report predicts the growth to be around 10 per cent. The KPMG report has said that radio revenue will grow from Rs 2,270 crore to Rs 2,640 crore. While industry leaders believe that 16 per cent growth is too optimistic, some feel 10 per cent is actually doable.
Tarun Katial, CEO, Big FM, said, “With industries having already come to terms with the effects of demonetisation and the implications of GST, I believe now 2018 will see a rampant growth in the overall adex across sectors, including radio.” Vineet Singh Hukmani, MD and CEO, Next Radio (Radio One), said, “10 per cent is very much achievable. I hope that the large networks raise rates to reduce the number of ads on air (which is huge now), thereby grow 10 per cent, protect profits and let listeners enjoy a clean station. Corporate brands spending in the metro cities is expected to go up as the effect of demonetisation and GST is on the decrease.”
Nisha Narayanan, COO & Director, RED FM & Redtro (One of India's largest radio network) and CEO, Digital Radio (Mumbai) Broadcasting, had, in one of her opinion pieces, mentioned that radio had grown by only 2-3 per cent in the last 15 years. However, this time around Narayanan is also optimistic about the year ahead, though she also mentions the pain points of demonetisation and GST and how it stunted growth. She added, “I am reminded of a writer’s lines which said we can complain because rose bushes have thorns, or rejoice because thorns have roses.” Quickly adding, “But now that we have already walked through that phase we are optimistic that marketers will be spending more on our medium.”
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