India’s FM industry is forecast to reach $656 million in the next five years,  according to TechSri Research’s latest report

Aimed at media buyers, the report ‘India FM Radio Industry Forecast and Opportunities, 2019′ studied the future growth potential of the country’s FM radio market giving projections and demand forecasting.

It also looks at emerging trends, challenges and opportunities.

It forecasts a positive outlook in anticipation of roll out of Phase III Auction Policy coupled with growing advertising revenues in tier 2 and 3 cities.

Up til now, the big metros of Delhi and Mumbai have been responsible for the largest percentage revenue generation.

Privatisation of FM radio in India started with Phase-I auction in 1999, with 21 radio channels being launched.

In 2005, the phase-II auctions boosted the industry with FM licenses for 245 operators.

With the upcoming Phase – III auctions, over 800 radio channel licenses across 227 new cities will be issued.

Karan Chechi, Research Director with TechSci Research said: “The expansion of radio stations in tier-2 and tier-3 cities with Phase-III auction policy coupled with diversification of content for varied listener interests are offering latent growth opportunities in India’s FM radio industry.”