Developer docs
API playgroundTry for free, no card

Search company profiles

Radio City India

Full company profile

uuid0006wlx

Namestring
Radio City India
Legal namestring
Radio City
Websiteurl
radiocity.in
Company typeenum
Private
Founded yearint
2001
Descriptiontext

Radio City India is a publicly listed (NSE: RADIOCITY) multi-platform entertainment media company headquartered in Mumbai, operating as India's first private FM radio station since 2001. The company broadcasts across 39 Indian cities through its flagship Radio City 91.1 FM brand, delivering music, Bollywood entertainment, local city content, and relationship advice in Hindi and regional languages including Marathi, Tamil, Telugu, and Kannada. Its core technology stack combines traditional FM radio broadcasting with digital extensions including web radio streaming, a mobile application, podcast distribution, short-form video (Radio City Shorts), and web stories. The company also operates the Freedom platform for independent music promotion and the Radio City Freedom Awards (RCFA), an annual indie artist recognition initiative.

Radio City generates revenue primarily through advertising, selling airtime on FM stations and monetizing digital content through embedded and display advertising across its owned platforms. The business model is free-to-listen for consumers, with advertising as the sole revenue stream. Its customer base consists of two primary segments: a mass-market urban audience consuming entertainment across 39 cities, and advertising brands seeking local market reach through radio and digital audio channels. The company employs 501-1000 staff and is led by CEO Abe Thomas. Radio City has expanded into adjacent verticals including the K-City Korean entertainment segment, the Business Titans B2B leadership awards platform (launched in 2022), and an AI-powered radio jockey called AI RJ Sia that automates audio content delivery. Distribution extends across FM frequencies, web radio, mobile app, podcast platforms, and social media channels (Facebook, Instagram, YouTube, X).

Short descriptiontext

Radio City India is a publicly listed FM radio broadcaster operating 39 stations across India, delivering music, entertainment, and regional language content to mass-market urban audiences, monetized through advertising across broadcast, digital, and podcast platforms.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
501–1,000
akta.pro rankint
HeadquartersMumbai, India
HQ citystring
Mumbai
HQ countrystring
India
HQ regionstring
Asia
Markets served

Serves global market

Offices40 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
private FM radio, radio broadcasting, digital audio advertising, podcast content, music programming
Industry4 codes
1Local Radio Station Groups (Owned & Operated/Station Chains)
CodeMPABACACPrimaryYes
2Internet Radio & Streaming Broadcast Stations (Simulcast/Online-only)
CodeMPAIAEAEPrimaryNo
3Radio Streaming & Catch-Up Audio Platforms
CodeMPAIADAJPrimaryNo
4Radio Network Distribution & Programming Services (Syndicators, Format Providers)
CodeMPAIAEAHPrimaryNo
NAICS code2 codes
  • Radio Broadcasting Stations516110
  • Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers5162
SIC code1 code
  • Radio Broadcasting Stations4832
Product category
Radio Broadcasting
Revenue model2 records
1Advertising Revenue
TypeAdvertising
Description

Radio City generates revenue primarily through advertising, selling airtime to brands and businesses targeting listeners across its FM stations and digital platforms including website, app, and podcasts.

aninews.in
2Digital Content Monetization
TypeAdvertising
Description

Revenue from digital content including podcasts, web stories, and video content through embedded and display advertising on owned digital platforms.

radiocity.in
Marketing channels7 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels5 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
GTM typeB2B
B2B
Offering typeServices
Services
Brand1 of 5 records shown
1Radio City Freedom
Description

Platform for independent music artists featuring Radio City Freedom Awards (RCFA) to recognize and uplift indie artists

radiocity.in
+4 more records
Core offering1 text field

Radio City India is India's first private FM radio station, established in 2001, broadcasting across 39 cities. It operates FM radio stations delivering music, entertainment, and curated content programming, supported by digital extensions including web radio, podcasts (RC Podcast), short-form video content (Radio City Shorts), and an AI-powered virtual radio jockey (AI RJ Sia). The company monetises its audiences primarily through advertising sold to brand marketers and media agencies.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Radio City India operates as a multi-platform entertainment media company centered around its flagship FM radio station Radio City 91.1 FM (India's first private FM station since 2001). The portfolio extends beyond traditional radio into digital audio-visual content through Web Radio for online streaming, a podcast platform (RC Podcast) with genre-specific shows, and Radio City Shorts for short-form video. The ecosystem includes AI RJ Sia as an AI-powered radio jockey, the Freedom platform for independent music promotion with Radio City Freedom Awards, Business Titans awards, Korean entertainment content, entertainment news/reviews, Play Zone interactive games, and video content. The company serves 39+ Indian cities with localized content while maintaining national digital platforms.

Product and service10 records
1FM Radio Broadcasting
CategoryRadio Broadcasting
Description

FM radio broadcasting service offering music, entertainment, and curated shows to listeners across 39 cities in India; monetised through advertising sold to brands and agencies.

2Web Radio
CategoryDigital Audio
Description

Online live streaming of Radio City's FM stations via the website and mobile apps, enabling listeners to tune in beyond the terrestrial broadcast footprint.

3RC Podcast Network
CategoryDigital Audio / Podcast
Description

Curated podcast shows spanning multiple genres available on podcast platforms and the Radio City app for on-demand listening.

4Radio City Shorts
CategoryDigital Video
Description

Short-form video content complementing FM and digital audio programming, distributed via social and video platforms.

5AI RJ Sia
CategoryAI Content Technology
Description

An artificial intelligence-driven virtual Radio Jockey that produces and presents radio content, extending content production capability beyond human RJs.

6Radio City Business Titans
CategoryBranded Content / Talk Programming
Description

A curated content vertical featuring interviews with business leaders and industry figures, integrated with advertising and branded content opportunities.

7Radio City Freedom
CategoryMusic Programming
Description

A content vertical dedicated to independent music programming under the Radio City brand.

8Radio City Play Zone
CategoryKids Content / Programming
Description

A children's content vertical offering music, stories, and entertainment programming targeted at young listeners and families.

9Radio City K-City
CategoryMusic Programming
Description

A K-pop focused content vertical offering curated Korean pop music and entertainment programming to Indian audiences.

10Fantastic Morning Show
CategoryRadio Programming
Description

A flagship morning radio show on Radio City featuring entertainment, music, and listener engagement as part of the daily programming lineup.

Scale indicator4 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
Strategic tierCoreTypeGTM or Marketing PartnerAnnounced on2022-01-01
Description

Radio City Business Titans is a prestigious annual forum that brings together business leaders and entrepreneurs. The platform is backed by Radio City and set in iconic destinations like Dubai, Abu Dhabi, Phuket, and Sri Lanka. It serves as a recognition platform for visionary leaders who drive innovation and impact.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

Radio City collaborates with music labels and independent artists through its Freedom platform and Radio City Freedom Awards (RCFA), providing a platform for indie music discovery and promotion.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Fever FM is HT Media's FM radio brand operating in Delhi, Mumbai, Bangalore and other metros with a Hindi Bollywood format. Direct competitor in the same advertising pool and listener demographic as Radio City.

TypeDirect peer
Description

Operated by Entertainment Network India (ENIL), Radio Mirchi is India's largest private FM radio network with presence in 70+ cities. It is the most direct competitor to Radio City, offering music-led FM programming, RJs, digital streaming, and live events targeting the same Hindi and regional-language audiences and brand advertisers.

TypeDirect peer
Description

Red FM 93.5 is owned by Sun TV Network and broadcasts across 50+ Indian cities with a Bollywood and entertainment-led format. Competes directly with Radio City for the same urban Hindi-speaking listener base and brand advertising budgets.

4BIG FM (Reliance Broadcast)
TypeDirect peer
Description

BIG FM 92.7 is a multi-city FM radio network operated under Reliance group, offering music, entertainment and RJ-driven programming. Direct competitor to Radio City in Hindi and regional markets with comparable advertiser propositions.

TypeDirect peer
Description

Ishq FM is a Hindi Bollywood and romantic-music format FM radio network operating across multiple Indian cities. Competes with Radio City for the same Hindi music audience and brand advertisers, particularly in metros and tier-2 markets.

TypeEmerging player
Description

JioSaavn is one of India's largest music streaming platforms with ad-supported and subscription tiers, licensed music catalogue and original podcasts. Competes with Radio City's web radio, podcast and digital audio offerings for both listenership and digital ad budgets.

TypeBroad incumbent
Description

Spotify's India operation offers music streaming and podcasts globally, capturing younger urban listeners. Adjacent competitor to Radio City's digital audio and podcast platforms, particularly for English and international music audiences.

TypeEmerging player
Description

Gaana is an India-focused music and podcast streaming platform owned by Times Internet. Competes with Radio City's web radio and podcast products for digital audio ad inventory and on-demand listenership across Indian languages.

TypeBroad incumbent
Description

Sun TV Network is a major Indian media conglomerate operating regional TV channels, FM radio (Red FM/Surya FM) and digital properties. Comparable as a multi-platform Indian broadcast and digital media company competing for the same advertising and audience pools.

TypeDirect peer
Description

ENIL is the listed parent of Radio Mirchi, India's largest FM radio network, and also operates live events and digital audio. Most directly comparable public peer to Radio City India given overlapping business model, listed status, and multi-city FM footprint.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI capability2 records

Each record includes

Type, Description, Source

AI maturity
App detail

Has app

Feature4 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Radio City India

Radio Broadcastingradiocity.in

Radio City India is a publicly listed FM radio broadcaster operating 39 stations across India, delivering music, entertainment, and regional language content to mass-market urban audiences, monetized through advertising across broadcast, digital, and podcast platforms.

What Radio City India does

Radio City India is a publicly listed (NSE: RADIOCITY) multi-platform entertainment media company headquartered in Mumbai, operating as India's first private FM radio station since 2001. The company broadcasts across 39 Indian cities through its flagship Radio City 91.1 FM brand, delivering music, Bollywood entertainment, local city content, and relationship advice in Hindi and regional languages including Marathi, Tamil, Telugu, and Kannada. Its core technology stack combines traditional FM radio broadcasting with digital extensions including web radio streaming, a mobile application, podcast distribution, short-form video (Radio City Shorts), and web stories. The company also operates the Freedom platform for independent music promotion and the Radio City Freedom Awards (RCFA), an annual indie artist recognition initiative.

Radio City generates revenue primarily through advertising, selling airtime on FM stations and monetizing digital content through embedded and display advertising across its owned platforms. The business model is free-to-listen for consumers, with advertising as the sole revenue stream. Its customer base consists of two primary segments: a mass-market urban audience consuming entertainment across 39 cities, and advertising brands seeking local market reach through radio and digital audio channels. The company employs 501-1000 staff and is led by CEO Abe Thomas. Radio City has expanded into adjacent verticals including the K-City Korean entertainment segment, the Business Titans B2B leadership awards platform (launched in 2022), and an AI-powered radio jockey called AI RJ Sia that automates audio content delivery. Distribution extends across FM frequencies, web radio, mobile app, podcast platforms, and social media channels (Facebook, Instagram, YouTube, X).

Radio City India firmographics

Firmographics
Name
Radio City India
Legal name
Radio City
Website
https://radiocity.in
Company type
Private
Founded year
2001
Operating status
Operating
Headcount range
501–1,000 employees
Short description
Radio City India is a publicly listed FM radio broadcaster operating 39 stations across India, delivering music, entertainment, and regional language content to mass-market urban audiences, monetized through advertising across broadcast, digital, and podcast platforms.
Ownership category
akta.pro rank

Radio City India industry classification

Industry
Product category
Radio Broadcasting
NAICS
Radio Broadcasting Stations (516110), Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (5162)
SIC
Radio Broadcasting Stations (4832)
akta.pro primary industry
Local Radio Station Groups (Owned & Operated/Station Chains) (MPABACAC)
akta.pro secondary industries
Internet Radio & Streaming Broadcast Stations (Simulcast/Online-only) (MPAIAEAE), Radio Streaming & Catch-Up Audio Platforms (MPAIADAJ), Radio Network Distribution & Programming Services (Syndicators, Format Providers) (MPAIAEAH)

Keywords

  • Private FM radio
  • Radio broadcasting
  • Digital audio advertising
  • Podcast content
  • Music programming

Where Radio City India is headquartered

Location

Headquarters

HQ city
Mumbai
HQ country
India
HQ region
Asia

Offices40 records

Markets served

Radio City India business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

  1. Advertising Revenue: Radio City generates revenue primarily through advertising, selling airtime to brands and businesses targeting listeners across its FM stations and digital platforms including website, app, and podcasts.
  2. Digital Content Monetization: Revenue from digital content including podcasts, web stories, and video content through embedded and display advertising on owned digital platforms.

Distribution channels5 records

Marketing channels7 records

Radio City India product offering

Product offering

Core offering

Radio City India is India's first private FM radio station, established in 2001, broadcasting across 39 cities. It operates FM radio stations delivering music, entertainment, and curated content programming, supported by digital extensions including web radio, podcasts (RC Podcast), short-form video content (Radio City Shorts), and an AI-powered virtual radio jockey (AI RJ Sia). The company monetises its audiences primarily through advertising sold to brand marketers and media agencies.

Product overview

Radio City India operates as a multi-platform entertainment media company centered around its flagship FM radio station Radio City 91.1 FM (India's first private FM station since 2001). The portfolio extends beyond traditional radio into digital audio-visual content through Web Radio for online streaming, a podcast platform (RC Podcast) with genre-specific shows, and Radio City Shorts for short-form video. The ecosystem includes AI RJ Sia as an AI-powered radio jockey, the Freedom platform for independent music promotion with Radio City Freedom Awards, Business Titans awards, Korean entertainment content, entertainment news/reviews, Play Zone interactive games, and video content. The company serves 39+ Indian cities with localized content while maintaining national digital platforms.

Differentiator

Problem solved

Functional benefit

Brands

  • Radio City Freedom: Platform for independent music artists featuring Radio City Freedom Awards (RCFA) to recognize and uplift indie artists
  • Business Titans
  • K-City
  • RC Podcast
  • Radio City Shorts

Products and services

  • FM Radio Broadcasting FM radio broadcasting service offering music, entertainment, and curated shows to listeners across 39 cities in India; monetised through advertising sold to brands and agencies.
  • Web Radio Online live streaming of Radio City's FM stations via the website and mobile apps, enabling listeners to tune in beyond the terrestrial broadcast footprint.
  • RC Podcast Network Curated podcast shows spanning multiple genres available on podcast platforms and the Radio City app for on-demand listening.
  • Radio City Shorts Short-form video content complementing FM and digital audio programming, distributed via social and video platforms.
  • AI RJ Sia An artificial intelligence-driven virtual Radio Jockey that produces and presents radio content, extending content production capability beyond human RJs.
  • Radio City Business Titans A curated content vertical featuring interviews with business leaders and industry figures, integrated with advertising and branded content opportunities.
  • Radio City Freedom A content vertical dedicated to independent music programming under the Radio City brand.
  • Radio City Play Zone A children's content vertical offering music, stories, and entertainment programming targeted at young listeners and families.
  • Radio City K-City A K-pop focused content vertical offering curated Korean pop music and entertainment programming to Indian audiences.
  • Fantastic Morning Show A flagship morning radio show on Radio City featuring entertainment, music, and listener engagement as part of the daily programming lineup.

Companies that use Radio City India

Customer profile

Segments3 records

Ideal customer profiles2 records

Radio City India technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Radio City India partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered core.

  • Business Titans Platform PartnerscoreGTM or Marketing Partner · 1 January 2022Radio City Business Titans is a prestigious annual forum that brings together business leaders and entrepreneurs. The platform is backed by Radio City and set in iconic destinations like Dubai, Abu Dhabi, Phuket, and Sri Lanka. It serves as a recognition platform for visionary leaders who drive innovation and impact.
  • Music Labels and ArtistscoreStrategic or Co-development PartnerRadio City collaborates with music labels and independent artists through its Freedom platform and Radio City Freedom Awards (RCFA), providing a platform for indie music discovery and promotion.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Radio City India competitors and assessment

Company assessment

Direct peers

  • Fever FM (HT Media): Fever FM is HT Media's FM radio brand operating in Delhi, Mumbai, Bangalore and other metros with a Hindi Bollywood format. Direct competitor in the same advertising pool and listener demographic as Radio City.
  • Radio Mirchi (Entertainment Network India): Operated by Entertainment Network India (ENIL), Radio Mirchi is India's largest private FM radio network with presence in 70+ cities. It is the most direct competitor to Radio City, offering music-led FM programming, RJs, digital streaming, and live events targeting the same Hindi and regional-language audiences and brand advertisers.
  • Red FM (Sun TV Network): Red FM 93.5 is owned by Sun TV Network and broadcasts across 50+ Indian cities with a Bollywood and entertainment-led format. Competes directly with Radio City for the same urban Hindi-speaking listener base and brand advertising budgets.
  • BIG FM (Reliance Broadcast): BIG FM 92.7 is a multi-city FM radio network operated under Reliance group, offering music, entertainment and RJ-driven programming. Direct competitor to Radio City in Hindi and regional markets with comparable advertiser propositions.
  • Ishq FM (Music Broadcast Ltd / Radio City parent media): Ishq FM is a Hindi Bollywood and romantic-music format FM radio network operating across multiple Indian cities. Competes with Radio City for the same Hindi music audience and brand advertisers, particularly in metros and tier-2 markets.
  • Entertainment Network India (ENIL): ENIL is the listed parent of Radio Mirchi, India's largest FM radio network, and also operates live events and digital audio. Most directly comparable public peer to Radio City India given overlapping business model, listed status, and multi-city FM footprint.

Emerging players

  • JioSaavn: JioSaavn is one of India's largest music streaming platforms with ad-supported and subscription tiers, licensed music catalogue and original podcasts. Competes with Radio City's web radio, podcast and digital audio offerings for both listenership and digital ad budgets.
  • Gaana (Times Internet): Gaana is an India-focused music and podcast streaming platform owned by Times Internet. Competes with Radio City's web radio and podcast products for digital audio ad inventory and on-demand listenership across Indian languages.

Broad incumbents

  • Spotify India: Spotify's India operation offers music streaming and podcasts globally, capturing younger urban listeners. Adjacent competitor to Radio City's digital audio and podcast platforms, particularly for English and international music audiences.
  • Sun TV Network: Sun TV Network is a major Indian media conglomerate operating regional TV channels, FM radio (Red FM/Surya FM) and digital properties. Comparable as a multi-platform Indian broadcast and digital media company competing for the same advertising and audience pools.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Radio City India social profiles

Digital presence

Radio City India financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Radio City India leadership team

Management profile

Number of profiles

Profiles1 record

Radio City India funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Radio City India M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Radio City India

What does Radio City India do?

Radio City India is India's first private FM radio station, established in 2001, broadcasting across 39 cities. It operates FM radio stations delivering music, entertainment, and curated content programming, supported by digital extensions including web radio, podcasts (RC Podcast), short-form video content (Radio City Shorts), and an AI-powered virtual radio jockey (AI RJ Sia). The company monetises its audiences primarily through advertising sold to brand marketers and media agencies.

Is Radio City India a public or private company?

Radio City India is a private company. It is classified as public and is currently operating.

When was Radio City India founded?

Radio City India was founded in 2001. It employs 501 to 1,000 people.

Where is Radio City India based?

Radio City India is headquartered in Mumbai, India, in the Asia region.

How does Radio City India make money?

Two revenue lines are on record. Advertising Revenue is the primary driver. The others are digital Content Monetization.

Who are Radio City India's main competitors?

Direct peers on record are Fever FM (HT Media), Radio Mirchi (Entertainment Network India), Red FM (Sun TV Network), BIG FM (Reliance Broadcast), Ishq FM (Music Broadcast Ltd / Radio City parent media) and Entertainment Network India (ENIL). Emerging players are JioSaavn and Gaana (Times Internet). Broad incumbents are Spotify India and Sun TV Network.

Does Radio City India have an API?

No public API is recorded for Radio City India.

What industry is Radio City India in?

Radio City India's product category is Radio Broadcasting. Its primary akta.pro industry code is MPABACAC, Local Radio Station Groups (Owned & Operated/Station Chains), with a secondary code of MPAIAEAE, Internet Radio & Streaming Broadcast Stations (Simulcast/Online-only). Its NAICS code is 516110 and its SIC code is 4832.

Unlock the full company data

50 free credits on sign-up, no credit card required.

Contact sales
Live signals
Ani NewsFM Radio: Tuned Out of News, Tuned into Crisis, Seeks ReformsHT Media surrendered multiple FM radio licenses in key Indian markets, leading to five of its stations going off air on June 15, as the Indian FM radio industry confronts a deepening crisis driven by digital competition and regulatory constraints. The Association of Radio Operators for India estimates the sector's revenues declined 7 per cent to around Rs 2,300 crore in 2025, with its share of advertising spending falling from 3.4 per cent in 2015 to approximately 1.1 per cent in 2025. Industry leaders including Red FM and Radio City have urged the government to implement four key reforms — allowing private FM stations to broadcast news, reducing GST from 18 per cent to 5 per cent, unlocking FM receivers in smartphones, and revising the license fee structure — warning that without intervention, smaller operators will exit and local stations will go dark.exchange4mediaTRAI notifies reserve prices for FM auctions; industry flags gapsThe Telecom Regulatory Authority of India (TRAI) has released recommendations for reserve prices and licensing terms for FM radio auctions in 18 Category E cities to stimulate private FM service expansion. This regulatory move follows a recent auction cycle that saw weak demand, with only 55 out of over 750 offered stations finding takers despite participation from major players like Radio Mirchi and Radio City. Industry executives have welcomed the lower entry barriers but warn that without addressing broader structural issues such as GST rates and mobile handset access, the sector may continue to struggle against digital competitors.Forbes India'People Don't Tune In To FM Just For Music'Radio City, India's second-largest FM radio operator, plans to invest Rs 400 crore to extend its 20 existing stations and bid for licences in 20 additional cities ahead of phase III of FM radio auctions. It earned Rs 180 crore last year with 30 percent margins and 15 percent CAGR. CEO Apurva Purohit said FM's local news and information, not just music, drives listenership.