Though being a late entrant in the FM space, Fever 104 FM, which recently turned seven, has managed to take on the top players. Harshad Jain, Business Head, Radio & Entertainment, HT Media Ltd reveals how the station has strived to offer innovative products and differentiated content to its listeners
Fever 104 FM, the radio arm of HTMedia, started operations in 2006 post the Phase II radio auctions. However, soon after, businesses in various sectors, including the still nascent FM Radio industry in India, were hit by the global financial crisis. In this scenario, building a strategy to grow your business profitably in the presence of dominant players, even as radio prices dropped, and differentiating yourself from the similar on-air content, was a challenge for the new radio station. But Fever 104 FM managed to carve a niche for itself.
As the station celebrates seven years, Harshad Jain – Business Head, Radio & Entertainment, HT Media Ltd recalls the exciting and fulfilling journey for the station so far. “It has been phenomenal because for a business which came in six years later, we are dominant leaders in Delhi and second in all the markets which we operate in,” he says. “With such a formidable presence, I think we have been able to redefine the radio space with Fever FM.”
Differentiated content is king According to Jain, the station redefined the space by differentiating its content. With an aim to play on the “theatre of the mind”, the station aired radio dramas with mythological and historical themes like Ramayana, Bose and Gandhi, and also slightly lighter ones like Bal Gopal, Friends In A Metro (a situational comedy show) and horror show Kya Woh Sach Tha.
Looking ahead, Jain adds that radio stations shouldn’t just be music channels, but should look to become like general entertainment channels. Innovation and experimenting with genres like crime, horror, comedy and even sports, has helped increase engagement making people tune in to the station. “Because we have strived to be very different and are constantly experimenting, we have gained a lot of success,” explains Jain. “Lots of innovative content and promotions are being done, to ensure there’s something for every kind listener.” He also adds that with consumption becoming personal, especially on mobile phones, listenership has increased.
What’s the right price
Despite most FM operators hiking the ad rates by 20 to 30% earlier this year, the current price levels are still below the 2008-09 rates. This has put the radio business under pressure especially since other media costs (TV and print) have gone up significantly in the same period. Jain believes that these challenges can be overcome only if radio is not seen just as an advertising medium, but as a means to build the customer’s business and directly impacting the business KPIs (key performance indicators) of customers.
“Today when we say that you need to help partner businesses and brands in their growth, it is very different from just advertising on radio.” Jain adds that this can be done by focusing on customisation and innovation and tying up with advertisers for campaigns which have been specially developed and planned for radio thereby increasing the effectiveness of radio as a medium. The station has also dabbled with the “reality” genre and the company also focuses on seamless brand integration into the script of their radio dramas, taking care to ensure that it is does not appear as obvious brand advertising and this effort has met with a lot of success.
He adds, “We add about 500-600 new clients every year. So clearly the width of the category is going up exponentially. Customised selling requires customized solutions and today there are lots of things being done on radio which are specific radio campaigns, that are not running on television or dependent on it.”
What the future holds
With Phase III being seen as the big game changer, with 839 licences across 294 cities up for auction, the question is will Fever FM look to capture the airwaves outside the cities of Delhi, Mumbai, Kolkata and Bangalore? While not commenting on whether Tier II and III cities are on their radar, Jain says, “We are a metro player and that’s what our focus area is. We will see whatever it takes to consolidate our position.” Fever FM also has a divergent stand from other most operators who believe that more frequencies should be awarded in metros, as this will help niche content grow.
Jain says, “The pricing on the radio business side is low. With only seven-toeight players in the fray, operators are bleeding. The moment you get more players the pricing will come down further and the business economics doesn’t make sense by having 20, 30, 40 channels.”
Looking ahead on the future of FM radio in India, Jain is optimistic of its growth and untapped potential.“I think the potential of radio is clearly underutilized and it needs to be evangelized much more so that it starts becoming 7 to 8% of the total media mix. Radio on its own should become a primary medium.”
As what to expect from Fever FM, he signs off saying, “Lots of excitement and lots of innovations!”
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