My FM raises ad rates by 25 per cent

The channel had increased ad-rates in April, 2013.

After increasing its advertising rates in April 2013, 94.3 My FM has announced another hike in its ad rates, this time by 25 per cent effective April, 2014. Like last year, the eight-year old radio company has cited 'inventory crunch' as the reason for the increase in rates.

The radio channel owned by the Dainik Bhaskar Group has stations across 17 cities, including Jaipur, Jodhpur, Chandigarh, Bhopal, Jalandhar, Ahmedabad, Surat, Udaipur, Gwalior, Indore, Ajmer, Amritsar, Bilaspur, Nagpur, Raipur, Kota and Jabalpur.

In an official communiqué, Harrish M Bhatia, CEO, 94.3 My FM, says, "Our markets are growing at an exponential pace and advertisers have realised that radio is the most effective way of reaching out to the audience. Our advertisers know the value proposition we offer basis our local understanding, and that is why we are the retail king. The new price structure is designed keeping the interest of both client and listeners in mind."

As of now, the channel enjoys ad-rates in the range of Rs 240-350 per 10-seconds. This will go up to Rs 300-430 per 10-seconds, after the 25 per cent increase, starting April, 2014. However, the rates are more market-specific and deal-specific, across the 17 stations of the channel.

It is learnt that the rates will be same for national and local advertisers. Currently, the ratio between the local and the national (retail) advertisers is about 65:35.

For the record, Radio One increased its ad-rates by 20 per cent in January, 2014.