Speaking about the trends of 2024, Nisha Narayanan, COO & Director of Red FM & Magic FM, said, "2024 has been quite the ride! Post-COVID, the industry has been in hustle mode, trying to recreate the magic of the pre-2019 era. But fortunately, Radio is reinventing itself. It’s no longer the invisible, audio-only hero. Today’s radio is all about making noise across platforms - think production houses, content powerhouses, and even social media stars. From jingles to reels, private FM players are bringing a full-circle approach to their game."
She went on to explain the ups and downs of the year: "The year kicked off with a bang, thanks to the election frenzy boosting the first quarter. But mid-year was hit with post-election blues, economic hiccups, and a delayed education season made advertisers a little precautious. And just when we thought Diwali would light things up, the post-festive dip hit hard. Overall, while 2024 did manage to stay in the green, the growth wasn’t as stellar as we’d hoped."
But there were some positive signs. "The policy situation brought some good vibes. The government rolled out auctions for new cities, and while it’s baby steps, it’s progress! Yes, the existing licenses still feel like a drain, but the industry’s optimistic that this new beginning will eventually lead to bigger wins," she said.
She also spoke about the growth in the event space: "The event space has also been flourishing lately. We have also contributed a great deal to this industry. With South Side Story in Delhi and Mumbai, the Marathi Film Festival, Bhangra Premier League, Carrom Street Fest, Awadh Connection and so much more!"
Looking ahead, Narayanan shared her optimism for 2025: "And for 2025, well, we’re gearing up for a fresh, fiery start. With new cities in play and the industry more determined than ever, it’s going to be exciting to see where radio goes next."
