Radio has emerged as the second most accessed media platform, outpacing social networking and only behind television with listeners tuning in five days a week, said a report by market research firm Nielsen.
While 86% of the total people in metro cities consume radio, social media is consumed by 83% of the people. Television consumption is at par with radio in metro cities and is the highest in non-metro cities with 78% people watching TV, said the report titled ‘Power of Radio’, based on a survey of 3,250 people in one metro (Mumbai) and one non-metro city (Lucknow). The survey was commissioned by Music Broadcast Ltd, which operates the FM brand Radio City.
“It was to get an idea about the role of radio in both metros and non-metros, with increasing digital media consumption. What the survey highlights is that the overall media consumption pie is increasing and with that, radio has maintained its powerful position,” said Apurva Purohit, director at Jagran Prakashan promoted-Music Broadcast Ltd.
As per the report, 47% of the overall respondents use radio to listen to music and only a small 6% tune into audio streaming services like Saavn and Gaana.com for the same. Most people access radio through mobile phones. While only 7% people in metros access radio using the traditional radio set, more than half use radio sets in non-metro cities.
“Maturity of smartphones in the non-metro cities will play a great role in the growth of radio as a medium. Secondly, the consumption of regional content is increasing and will help radio which itself is a local medium,” said Ashesh Jani, partner at Deloitte India.
According to the report, radio is the most effective medium of advertising among the 26-45 years age group and overall, is the most trusted medium for information. “If print is considered as a primary medium of advertisement for the real estate sector, radio gives 17% incremental awareness over print,” the report said.
Overall, the radio industry has been growing the fastest among all traditional media. The industry is expected to grow at a compounded annual growth rate of 16.1% between 2016 and 2021 and is projected to be a Rs4,780 crore industry by 2021, according to another report titled ‘Media for the masses: The promise unfolds’ by consulting firm KPMG and lobby group Federation of Indian Chambers of Commerce and Industry.
HT Media, publisher of Mint, operates radio channels under the Fever 104 FM and Radio Nasha brands that compete with Music Broadcast’s stations in some markets.