India’s emerging radio market is generated solely by advertising spend and has a huge growth potential. Mobile has been an important factor as far as radio consumption is concerned. Most mobile phones have built-in FM receivers along with digital online listening. With mobile phone ownership set to exceed 1.2 billion by 2020, radio revenue growth will be fueled.
Besides extended reach, Phase III has allowed companies to own more than one station in a city. Yet to ensure competition, stations are not allowed to own more than 40% of channels in one city.
Foreign direct investment limit in the segment, has been raised to 49%.
India has one of the lowest radio revenue per capita rates in the world. The market is partly underdeveloped due to the government's dominance over the medium until the late 1990s. This hampered development in India's commercial radio advertising market, as well as its technological infrastructure.
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