The surrender of multiple Radio Nasha frequencies by HT Media Group has reignited urgent concerns about the viability of India’s private FM radio industry, with Red FM’s Nisha Narayanan calling it a “long overdue wake-up call” for the government and policymakers.
Narayanan, reacting via LinkedIn, stressed that this is not an isolated development but part of a troubling pattern – one that has already seen TV Today Network exit the radio business, insolvency proceedings at BIG FM, and Red FM surrendering Magic FM in Mumbai. “Station by station, the medium is being hollowed out,” she warned.
Central to her concern is the implementation gap. Despite TRAI issuing reform recommendations nearly eight months ago, meaningful action remains absent. Key industry demands include a 4% adjusted gross revenue model for Phase III licence extensions beyond 2030 without fresh auctions, a GST reduction from 18% to 5%, mandatory activation of FM receivers on smartphones, and permission for news and current affairs programming on private FM stations.
Narayanan pointed out that nearly 90% of FM consumption now happens via smartphones, yet most devices continue to ship with FM receivers deactivated – pushing users towards paid data-based audio services instead.
Describing radio as “the common man’s medium,” she underlined its unmatched reach across cities, towns, and rural India in local languages, and its continued relevance to initiatives like Mann Ki Baat.
Her closing message was unambiguous: “Radio has never asked for sympathy. Only a fair ground to play on” – as the industry waits to see if reforms arrive before the last frequencies go silent.
