Mumbai: After Radio Mirchi announced an increase in ad rates earlier this week, Red FM has also upped its ad rates by almost 15-25 per cent with effect from 1 October.
The decision to hike rates reflects current market dynamics, viz., the acceptance of radio as an effective and efficient medium. Red FM national sales head B. Surendar said, "A lot has changed in the markets in the past one year; the erstwhile perception-based market leaders have been toppled over and there is greater accountability with the entry of RAM. Red FM, more than any other station has been driving this change. It is the only brand which has seen an increase in rates while maintaining its leadership status in market shares. This is more because Red FM offers the most transparent and cost-effective radio buying."
Speaking about the effect that the rate hike will have on advertisers, Surendar said , "We have rationalized our rates. Our advertisers understand the value proposition we offer and come to us because of a proven track record, our leadership in market shares and because of our strength of providing 360 degree communications solutions."