The Association of Radio Operations For India (AROI) appealed to the Centre on Sunday for a bailout package to help the industry tide over the coronavirus outbreak.The radio industry has been grappling with decreasing ad spends for almost a year now.
Ms. Nisha Narayanan, Director & COO, RED FM and Magic FM commented on the Association of Radio Operators letter : “The Association of Radio Operators for India (AROI), industry body of private FM channels, is seeking a bailout package from the government in view of the severe impact of the coronavirus outbreak on the industry.
All private FM radio players have written to the Union minister of information and broadcasting, Prakash Javadekar about industry going through a tough phase with advertising revenues shrinking over the past year, coupled with a steep fall in government ads, and hoped the government will consider its requests for certain concessions it had sought in December 2019. The impact had worsened with the sudden outbreak of pandemic COVID-19 globally leading to services sectors and brands cutting back on advertising spends.
The industry has collectively asked for a three-pronged bailout package till the economy stabilizes. This included a one-year moratorium on all licence fees and charges by the government and Prasar Bharti, and restoration of government advertising on radio, besides clearing the long-pending payments from the Directorate of Advertising and Visual Publicity. We hope that the government helps restore normalcy in this sector in these desperate times.”