“Has radio not found enough ideas, (and) till recently did it lack the ability to be more than just a companion medium and become a part of large format advertising plans,” asked Satyajit Sen, CEO Zenith Optimedia, while moderating a panel discussion at India Radio Forum 2014.

The session was called ‘A New Storyline – The Power of Radio in the New Media Mix’, where top executives from major Indian radio networks discussed opportunities for advertisers.

Responding to the question, Prashant Pandey, Managing Director and CEO, Radio Mirchi said: “Brands are now taking a solution-oriented approach to radio and using the medium to customize their personality which they can’t do in television.”

He was also proud of radio’s ability to mix with any other medium to help brands have fun while reaching out to customers but felt that radio needed a measurement tool that went beyond listenership.

Ashwin Padmanabhan, Business Head, Big FM, added: “Our main business is retail, but even big brands are beginning to understand the strengths of radio to make a local connect.”

B.Surendra, CEO, Suryan FM also said that there was a lack of awareness among large corporate clients at the agency level of the potential of radio.

Ashit Kukian, President and COO, Radio City was of the opinion that branded content was becoming the need of the hour for advertisers.

The discussion concluded with the panel agreeing that radio broadcasters have to rethink their strategy to maintain revenue, while continuing to enhance the listening experience to engage audiences.

At the same time, success stories need to be shared with media planners, buyers and advertisers to increase their share of advertising on radio.