My FM achieves break-even, reports gross turnover of Rs 13.39 cr in Q1 FY10
Three years since its launch in May 2006, My FM has announced that it has achieved break-even for the period of April-July 2009. The FM station from the Bhaskar Group has reported a gross turnover of Rs 13.39 crore in this period.
Launched in May 2006 with its first radio broadcast in Jaipur, My FM, the FM station from the Dainik Bhaskar Group, has announced that it has achieved break-even for the period of April-July 2009. My FM’s gross turnover is said to be Rs 13.39 crore for this period and has also reported an increase in its net revenue by nearly 46 per cent.
In an email interaction with exchange4media.com, Harrish M Bhatia, COO, My FM, said, “My FM’s gross turnover stands at Rs 13.39 crore for the period April-July ’09. Achieving break-even is a great achievement for us, and at My FM we believe that success is a journey and not an end, so we are looking forward to many more milestones. After achieving operational break-even, it is time now to expand our footprint.”
The FM player believes that the way forward is to further customise the offerings as per the expectations of the listeners. It had earlier carried out a research on listeners’ choice in January 2009, and has carried out another research in August 2009 to gain a better insight into the evolving listener preferences.
Bhatia further said, “We have a vision of making My FM a pan-India brand in the coming Phase III of licensing and are awaiting Government’s announcement on the bidding and resolution of the music royalty issue.”
Currently, My FM is spread across seven states – Rajasthan, Haryana, Punjab, Gujarat, Maharashtra, Madhya Pradesh and Chhattisgarh and is available in 17 cities – Jaipur, Jodhpur, Chandigarh, Bhopal, Jalandhar, Ahmedabad, Surat, Udaipur, Gwalior, Indore, Ajmer, Amritsar, Bilaspur, Nagpur, Raipur, Kota and Jabalpur.
