Radio City's FY24 Rocks: Records 15% Revenue Growth and 31% EBITDA Surge
4 min readMusic Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its audited Financial Results for the quarter and yr ended March 31st, 2024.
Key Highlights – Q4FY24:
Q4FY24 Top line of Rs 62.6 Crores; 22% Growth YoY
EBITDA* at Rs. 16.1 Crores; 52% Growth YoY
EBIDTA Margin at 25.7%
Key Highlights – FY24:
FY24 Top line of Rs 228.5 Crores; 15% Growth YoY
EBITDA* at Rs. 56.2 Crores; 31% Growth YoY
EBIDTA Margin at 24.6%
*Includes different revenue
Commenting on the outcomes Mr. Shailesh Gupta, Director stated, “We are happy to report a strong efficiency for the yr ended FY24, marked by wholesome progress in each topline and profitability metrics. Our revenues elevated by 15%, reflecting sturdy market demand and efficient execution of our methods. Furthermore, our EBITDA expanded by 31%, with an EBITDA margin of 24.6%, indicating improved operational effectivity and price administration initiatives.
One vital achievement through the yr was the substantial improve in stock utilization, reaching 78% in comparison with 63% within the earlier yr. This underscores our dedication to optimizing useful resource utilization and enhancing operational effectiveness.
Throughout the yr, we carried out a variety of strategic initiatives to fortify our place within the radio business. Additionally, our complete omni-channel framework enabled us to leverage the intensive attain of our networks, thereby delivering optimum worth to our shoppers.
A key focus space for us stays the digital enterprise, which demonstrated spectacular progress of 25% year-on-year. We are attuned to the evolving media panorama, prioritizing digital channels for content material creation, distribution, consumption, and engagement. We are investing in our technological capabilities to remain forward of the digital curve, guaranteeing seamless experiences throughout varied platforms.
We are delighted to notice that Radio City continues to be the popular alternative with advertisers, with 40% of business consumer base deciding on our platform. Moreover, amongst newly acquired shoppers within the radio area, 33% have particularly opted to showcase their ads on Radio City, reflecting the power of our model and the effectiveness of our advertising and marketing efforts.
Looking forward, we stay dedicated to driving sustainable progress and delivering worth to our stakeholders. By staying agile, revolutionary, and customer-centric, we’re well-positioned to capitalize on rising alternatives and navigate challenges within the dynamic media panorama.”
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 within the radio business, 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 powerful 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 weekly listeners throughout India lined by AZ Research 2019 (Source: AZ Research Report). The community gives terrestrial programming by 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 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 of their experiences. The community’s humour-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 impartial music. The main FM station gives a launch pad to budding singers with ‘Radio City Super Singer’, the primary singing expertise hunt on radio for the reason that final fourteen years. In 2022, the group launched its pioneering worldwide property ‘Radio City Business Titans’ to acknowledge Indian companies for his or her unwavering enterprise excellence.
In addition to its terrestrial programming, Radio City has embraced ‘Radigitalization’ – the seamless integration of radio and digital applied sciences. This transformative method extends the attain of radio past conventional boundaries, enhancing viewers interplay and integrating radio into peoples each day lives throughout the nation.
Radio City has bagged over 228 awards throughout famend nationwide and worldwide platforms comparable 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 so forth. within the latest previous. In 2022, Music Broadcast Limited gained ‘Indias 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 performed 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 checklist. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, in accordance with the GPTW survey.
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