MY FM to hike ad rates by 25% from February

Dainik Bhaskar group's radio division 94.3 MY FM on Thursday said it will increase advertising rates across all its 17 stations by 25 percent with effect from February 1. The decision to hike rates has been taken to address the current inventory crunch, the company said in a statement. Launched in 2006, MY FM is present in 17 Tier II and III cities across seven states.

"Our inventory has been peaking and increase in ad rates is the only way to balance, we want to deliver a good listening experience to the listeners and better return on investment to our advertiser," 94.3 MY FM Chief Executive Officer Harish Bhatia said. "Our markets are growing at an exponential pace and many smart advertisers have realised that radio is the most effective way of reaching out to the audiences," he added. Radio is an integral part of all media plans and there is a huge potential for radio in the Indian pie to grow significantly to come closer to the global average of 8-9 percent of media spends, the statement said.