Reports 13% YoY Growth in Revenue and 25% YoY Growth in EBITDA for 9MFY24
5 min read
Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its un-audited Financial Results for the Quarter ended December 31st, 2023.
Key Highlights – Q3FY24:
Q3FY24 Top line of Rs 60.4 Crores; 11% Growth YoY
EBITDA* at Rs. 15.3 Crores; 5% Growth YoY
EBIDTA Margin at 25.3%
Key Highlights – 9MFY24:
9MFY24 Top line of Rs 165.9 Crores; 13% Growth YoY
EBITDA* at Rs. 40.1 Crores; 25% Growth YoY
EBIDTA Margin at 24.2%
Maintained a robust Position with 19% Volume Market Share
*Includes different earnings
Commenting on the outcomes Mr. Shailesh Gupta, Director mentioned,“I’m happy to share that our revenues skilled an 11% progress in the Q3FY24 with EBITDA margins at 25.3%. Our focus continues in direction of the digital enterprise which has a big progress shifting ahead.
At Radio City, we have executed a spread of methods to increase our positioning in the radio trade. According to Aircheck 15 Markets, in the third quarter, we efficiently retained our market share at 19%. Additionally, our complete omni-channel framework permits us to maximise the intensive attain of our networks, making certain the supply of optimum worth to our shoppers.
About the expansion in the promoting sector, the actual property trade skilled a notable 17% year-on-year improve in spending. The pharmaceutical trade expanded by 15%, whereas the auto trade demonstrated a powerful progress of 26% in comparison with the earlier 12 months. On the finance aspect, the trade skilled a 9% progress. Meanwhile, on the Jewellery entrance we witnessed an enormous progress of 44%, and authorities promoting additionally noticed progress of twenty-two% YoY.
In Q3FY24, our digital enterprise witnessed a progress of 27% Y-o-Y. We are aligning ourselves with the ever-changing media panorama, one that’s detached to particular platforms, with a central deal with digital for content material creation, distribution, consumption, and engagement. To guarantee a easy expertise throughout various platforms, we’re strengthening our capabilities to face on the forefront of the digital know-how revolution. This entails delivering top-tier leisure that resonates with the evolving preferences and wants of our viewers.
Radio City stays a most popular selection for each longstanding and just lately acquired shoppers in the sector of radio promoting. For Q3FY24, out of the general shopper base using the radio platform, 39% have chosen Radio City for their promoting campaigns. Additionally, among the many newly acquired shoppers in the radio area, 31% have particularly chosen to characteristic their commercials on Radio City.
We take pleasure in deriving 31% of our earnings from a wide range of choices, that features, proactive proposals, digital initiatives, sponsorships, and particular occasions.”
About Radio City
Radio City, part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the primary personal FM radio broadcaster in India with over twenty years of experience in the radio trade, Radio City has persistently been the No.1 radio station in Bengaluru with 25.2% and No.2 in Mumbai with 14.3% common listenership share respectively. (Source: RAM Data, TG: 12+ Period: Week 1, 2013 to Week 52, 2022). Radio City Delhi ranks #3 with 11.7% common listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 52, 2022).
Radio City has established a robust presence throughout 39 stations in 12 states and 1 Union Territory, comprising 62% of the nation’s FM inhabitants. Radio City reaches out to over 69 million listeners throughout India lined by AZ Research 2019 (Source: AZ Research Report). The community gives terrestrial programming by means of its digital interface, www.radiocity.in
Radio City has spearheaded the evolution of FM radio by providing content material that’s distinctive, path-breaking and invokes metropolis ardour amongst listeners with its model philosophy of “Rag Rag Mein Daude City”. With the latest launch of its new station sound #CityKiNayiVibe, a contemporary model of Rag Rag Mein Daude City, Radio City goals to interact with the younger and vivacious Gen Z viewers who sought coolness quotient in their experiences. The community’s humour primarily based IPs ‘Babber Sher’, ‘Joke Studio’ and the IP ‘Love Guru’ with an idea of affection, relationships and romantic endeavours are immensely revered by the viewers. In 2013, the radio station launched ‘Radio City Freedom Awards’, a platform to acknowledge unbiased music. The main FM station gives a launch pad to budding singers with ‘Radio City Super Singer’, the primary singing expertise hunt on radio because the final fourteen years. In 2022, the group launched its pioneering worldwide property ‘Radio City Business Titans’ to acknowledge Indian companies for their unwavering enterprise excellence.
Radio City has bagged over 160 awards throughout famend nationwide and worldwide platforms equivalent to New York Festivals Radio Awards, ACEF Global Customer Engagement Forum & Awards, Golden Mikes – Radio & Audio Awards, India Audio Summit and Awards, India Radio Forum, and many others. in the latest previous. In 2022, Music Broadcast Limited received ‘India’s Best Company of the Year 2022’ Award by Berkshire media. Radio City has been persistently featured for the seventh time in ‘India’s Best Companies to Work For’ research carried out by Great Place to Work Institute. The firm has additionally been acknowledged in ‘India’s Best Workplaces for Women – 2019’ and has ranked amongst the Top 75 organizations on the record. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, in keeping with the GPTW survey.
Safe Harbor Statement
Statements in this doc regarding future standing, occasions, or circumstances, together with however not restricted to statements about plans and goals, the progress and outcomes of analysis and improvement, potential product traits and makes use of, product gross sales potential and goal dates for product launch are forward-looking statements primarily based on estimates and the anticipated results of future occasions on present and creating circumstances Such statements are topic to quite a few dangers and uncertainties and are usually not essentially predictive of future outcomes. Actual outcomes could differ materially from these anticipated in the forward-looking statements. The firm assumes no obligation to replace forward-looking statements to mirror precise outcomes, modified assumptions or different components.
About Author
