Music Broadcast Limited Q1FY20: Maintains EBITDA Margin at 32%
- Top line for the quarter was Rs 69.78 Crores
- EBITDA was Rs 22.37 Crores
- PBT was Rs 14.50 Crores
- 4% yield increase in the quarter
- Agreement signed with RBNL and Application submitted to MIB
Ms. Apurva Purohit, Director said: “It has been a challenging start to the year with weak sentiments, slowing economic growth and poor consumption trends which directly impacted the overall advertising environment. Based on corporate results thus far, it is clear that the slowdown is broad based and not confined to any specific sector.
While national advertisers delayed their campaigns due to reduced demand and margin pressures, local advertisers sought low cost opportunities to advertise. Political advertising was also lower than expected and was not able to compensate for the shortfall in Government and other categories.
Despite these severe pressures MBL was able to deliver EBITDA margins of 32% and improve yield by 4% this quarter.
Radio City, a part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the first FM radio broadcaster in India and with over 17 years of expertise in the radio industry, Radio City has consistently been the number one radio station in Bengaluru and Mumbai with 24.5% and 15.7% average listenership share respectively. (Source: RAM Data,TG: 12+ Period: Week 1, 2013 to Week 21, 2019). Radio City Delhi ranks #2 with 13.4% average listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 21, 2019).
Music Broadcast Limited currently has 39 stations across 12 states, comprising 62% of the country’s FM population. Radio City reaches out to over 69 million listeners in 34 cities covered by AZ Research 2019 (Source: AZ Research Report). The network provides terrestrial programming along with 18 other web-stations, through its digital interface, www.radiocity.in.
Radio City has spearheaded the evolution of FM radio by offering content that is unique, path-breaking and invokes city passion amongst listeners with its brand philosophy of “Rag Rag Mein Daude City”. The network introduced humour and the concept of agony aunt on radio with Babber Sher and Love Guru respectively. It also initiated Radio City Freedom Awards, a platform to recognize independent music and provided a launch pad to budding singers with Radio City Super Singer, the first singing talent hunt on radio.