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| Radio speaks online lingo |
| Seema Sindhu / New Delhi Aug 14, 2008, 04:48 IST |
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Channels register presence in cyberspace through their own social networking sites.
Radio channels plan to engage their listeners using the internet. Meow FM started its own social networking site MeriMeow (Meowfm.ning.com) in July. Radio City FM followed with its social networking site (Planetradiocity.com). The company has allocated 20 per cent of its budget for the portal.
Meow is marketing its site through its own channels. Radio City is promoting its portal through both online and offline media. It will also use separate outdoor campaigns and below-the-line activities. Anil Srivatsa, COO, Meow, said: “The plan to venture into social networking is my own initiative. Today, my first choice of entertainment is not TV.”
Apurva Purohit, CEO, Radio City, reasons: “Radio is consumed along with other media and enjoys a higher incidence of multi-media consumption. Almost 45 per cent of users consume both internet and FM radio and these media are often consumed simultaneously and in a complementary fashion.”
The benefits of presence in cyberspace are many. Social networking is not bound geography. Channels can reach listeners in areas where they do not reach.Channels do not have to get a licence for this. Also, social networking helps channels add new listeners. Srivatsa adds: “ Listeners will also invite friends to Meow.”
The channels hopes more advertising will result as a result of two mediums at their disposal. Purohit says: “FM radio helps advertisers capture audience pockets missed out by other mediums. Data shows that FM reaches out to 56 per cent of incremental consumers not reached by internet.”
Besides advertising, itunes and music downloads can also bring revenue. Post-incubation, the channels plans to adopt a subscription-based model. According to Srivatsa, the site has registered 5,000 users within two weeks of its launch and is adding 200-300 users everyday. He refused to talk of revenue plans and said currently the revenue was insignificant. He added the concept was not likely to stay free.
Purohit adds: “Through Planetradiocity, we're broadly looking at being the one-stop destination for two categories of users. Within the music industry, there is a huge network of people who’re seeking talent or music-related resources; like music labels/ film producers looking for artists or vice-versa, local bands looking for members or musicians looking for equipment, artist management agencies or managers. We will work towards addressing this category. The second category would be music aficionados, who currently do not have such a comprehensive, platform to meet their music-related needs.”
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