Radio City posts strong EBIDTA growth driven by operating leverage
Music Broadcast Limited (MBL), India’s leading private FM broadcaster, has released its financial results for the quarter and year ended March 31, 2022. Key Highlights – Q4FY22 Maintained strong position with 20% market share by volume Q4 FY22 First line of Rs 46.0 Crores; 8% YoYEBITDA* growth at Rs. 6.1 crores; EBIDTA margin at 13.3% *Includes other revenue Key Highlights – FY22 Maintained leading position with 21% market share by volume FY22 First line of Rs 168.4 Crores; 32% YoYPositive EBIDTA* growth at Rs. 27.8 crore; EBIDTA margin at 16.5% * Includes other revenuesRadio CityComments on the results Mr. Shailesh Gupta, Director said: “the the festive season has led to some recovery from Radio Adex, which also happened this quarter, and we expect this to increase significantly in FY23.
The adoption of digitization in the audio space has opened up many opportunities for consumers and advertisers. Today, audiences are looking for quality audio content on digital platforms, which is likely to attract more brands to take advantage of the convergence of radio and digital – a phenomenon we call internally “radiitalisation”. The opening up of the country and the return of advertising spending provided just the boost needed to build on the tireless efforts of recent quarters to become a more efficient, robust and resilient organization.
This, combined with the success of internally deployed cost optimization measures and the benefits of overtime operating leverage, helped us to significantly reduce our losses for the quarter and even year on year. New revenue initiatives have started to make up a significant portion of our overall revenue, accounting for 32% of revenue this quarter, with clear indications that they are sustainable and will also continue to generate revenue. steady growth in the future.
The company has remained true to its underlying belief of maintaining a strong liquidity position as a war chest to weather any storm and capitalize on attractive opportunities with cash reserves, amounting to Rs. 264 crores, as of March 31, 2022. With respect to the free issue of non-cumulative non-convertible preferred stock, as directed by the Honorable NCLT, the Company’s meeting of shareholders and creditors is scheduled to be held on Thursday, June 23, 2022, to review and, if deemed appropriate, with or without modifications, approve the program. India’s leading FM broadcaster with over two decades of expertise in the radio industry, Radio City has consistently been the number one radio station in Bangalore and Mumbai with 25.0% and 14.7% share respectively average listening.
(Source: RAM Data, TG: 12+ Period: Week 1, 2013 to Week 08, 2022). Radio City Delhi ranks 3rd with an average tune share of 12.1% (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 08, 2022). Music Broadcast Limited currently has 39 stations in 12 states, comprising 62% of the nation’s FM population. Radio City reaches more than 69 million listeners in 34 cities covered by AZ Research 2019 (Source: AZ Research Report). The network offers terrestrial programming as well as 17 other web-based stations, through its digital interface, www.radiocity.in.Radio City has spearheaded the evolution of FM radio by delivering unique, innovative content that invokes the passion for the city among listeners with its brand philosophy “Rag Rag Mein Daude City”.
The network introduced humor and the concept of the agony aunt to radio with Babber Sher and Love Guru respectively. He also launched the Radio City Freedom Awards, a platform to recognize independent music, and provided a launching pad for aspiring singers with Radio City Super Singer, the first hunt for singing talent on radio.
Radio City has won over 110 awards from national and international platforms such as New York Awards, ACEF Awards, Golden Mikes, India Radio Forum, etc. in the recent past. Radio City has consistently featured for the 7th time in India’s Best Companies to Work For study conducted by the Great Place to Work Institute. The company was also recognized in the “Best Workplaces for Women in India – 2019” and ranked among the top 75 organizations in the list. In 2020, Radio City ranked 4th in the “Best Large Workplaces in Asia” category, according to the GPTW.Safe Harbor survey
StatementStatements contained herein regarding future status, events or circumstances, including, but not limited to, statements about plans and objectives, research and development progress and results, characteristics and potential uses of the product, sales potential of the product and target dates for product launch are forward-looking statements based on estimates and anticipated effects of future events on current and developing circumstances These statements are subject to many risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company undertakes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.