21 May,2009 07:37 AM IST | | A Correspondent
It will be a challenging year ahead for the radio industry, but Radio One 94.3 FMa joint venture between Mid-Day Multimedia and BBC Worldwide grew 48 per cent in revenues when others experienced a negative growth.
"We have realised that client expectations from us are different than most of the other radio players. It is going to be a challenging year for the radio industry and we are prepared to face it confidently but cautiously," said Vineet Singh Hukmani, managing director, Radio One.
The company grew 79 per cent at the operating profit level (before licence fee) and a growth of 49 per cent at the EBIDTA level. However, performance of the industry came down by 12 per cent in the last 4 months thanks to the economic meltdown.
Challenging period
"We have grown due to focus on the highest business efficiency and understanding what works for our business," added Hukmani. The media industry is expected to face a challenging period till the second quarter of this year.
Radio One operates in Mumbai, Delhi, Bangalore, Kolkata, Chennai, Pune and Ahmedabad.
