Radio industry in India
After the second FM radio policy, India is growing towards 300 radio stations as compared to 21 stations earlier. 91 cities will be covered by the new radio stations, compared to 21 cities earlier. Thus, listeners in over 70 cities, largely in the B.C and D categories, will be listening to private FM radio stations, earlier serviced only by the State broadcaster.
Over 40 companies will be operating in the industry as compared to 7 earlier. Of the total advertising spend in India the radio industry’s share is about 2 per cent. This share is expected to rise substantially over the next ten years, going by the explosive growth in the ad inventory and the wide reach, especially the lower segment markets that the radio industry can now offer.
Based on these factors, coupled with other regulatory corrections such as migration to a revenue-share regime and allowing Foreign Direct Investment (FDI) up to 20 per cent, the sector is emerging for tremendous growth over the coming years.
When it comes time to advertise your small business, radio probably isn't the first thing that comes to mind. But that doesn't mean it isn't an effective way to reach your target audience, particularly if you place your radio spots during peaking driving times. And radio advertising typically costs much less than television advertising, making it an attractive choice for smaller businesses that may be operating on a limited advertising budget.
A good radio ad will grab a listener's attention, perhaps with a catchy jingle or a talented radio personality. Radio ads engage listeners by contructing a 30- or 60-second story, keeping the product or service being sold at the forefront throughout, covering all the key points in an efficient and entertaining way, and finishing with a call to action such as a phone number, which is typically repeated at least two or three times to help the listener remember it until they can write it down or pick up the phone.