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.

PwC Value proposition

  • Undertaking market assessment / feasibility studies and assist in formulating market entry / expansion strategies
  • Assist local players in identifying and inducting global strategic investors 
  • Assist in identifying, screening and profiling acquisition opportunities for inorganic expansion 
  • Advice on developing tax and regulatory compliant structure
  • Formulate a compliance framework to address challenges faced in adhering to complex regulations
  • Assist in obtaining regulatory approvals or making representation / seeking clarifications from regulatory authorities

Contact us

Rajib Basu

Partner and Leader
Entertainment and Media, PwC India

Tel: +91 98 3640 9700

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