In an interview to CNBC-TV18, Prashant Panday, MD and CEO of ENIL spoke about the latest happenings in his company and sector. Pandey expects the next five years to be better for radio. He sees radio industry growing at 17-20 percent in the next five years.
In an interview to CNBC-TV18, Prashant Panday, MD & CEO of ENIL said the addition of Radio City would be a welcome move in the radio space.
Speaking to CNBC-TV18 Prashant Pandey, MD & CEO ENIL said that impact has been severe. The hit on revenues has been around 10 percent, he said. He added that the media industry is expecting a turbulent December.
The biggest advertiser across ENIL's TV and radio business is the Central Government, says Prashant Panday, Managing Director and Chief Executive Officer, ENIL. Government ads contributed to around 12 percent to ENIL's total revenue last fiscal.
The company's margins had witnessed a decline in the fourth quarter of FY16 because of a 30 percent increase in its marketing costs. Panday says the marketing costs will continue to bog down margins for another few months due to introduction of second frequencies in various cities.
Entertainment Network India Limited (ENIL), the operator of Radio Mirchi FM channel has received approval from the information and broadcasting ministry for buying 4 radio stations of TV Today Network , which owns 104.8 FM Oye.
ENIL would spent around Rs 500-800 crore to participate in the phase III auctions for both existing and new cities, and Rs 100 crore of capex, adds Prashant Panday, managing director of the company.
Prashant Panday, managing director, Entertainment Network India Limited, says the bidding for the phase III spectrum acution is likely to be very aggressive due to limited frequencies being available.
Entertainment Network India Limited‘s (ENIL) fourth quarter looks reasonably strong amidst challenging economic environment, says Prashant Panday, ED&CEO of the company. Advertising and media industry have done better than expectations, he says.
News of amendments to the copyright bill has sent shock waves amongst radio companies. The changes that are being mooted may not be advantageous for the companies and Prashant Panday, Executive Director & CEO of ENIL says, they have been caught by surprise.
Prashant Panday, CEO, Radio Mirchi was skeptical about the third phase of auctions for FM radio. Though Panday was nervous about demand being too strong, he was hopeful that common sense and the lessons of the second phase of auctions would prevail
Some news today indicated Entertainment Network (India) (ENIL) has been looking to enter into a strategic agreement or arrangement with Abu Dhabi Media Company. Prashant Panday also indicated that they have seen a good demand for Radio Mirchi in UAE. He also stated that the media industry has been badly hit by slowdown in Q3.
In an interview with CNBC-TV18, Prashant Pandey of ENIL said most radio companies have not exhausted the 20% limit. The sector, he said, is likely to see greater interest if the cap on foreign direct investment is increased to 26%.