Annual Report 2011–12
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SC_COVER.indd 1 7/12/12 7:06 PM Contents Reimagining Radio 01 Corporate Information 26 Statement Pursuant to Section 212 92 of the Companies Act, 1956 Internet Radio Stations 02 Notice 27 Auditors’ Report on Consolidated 93 Mirchi on Social Media 03 Directors’ Report 33 Financial Statements Mirchi Mobile 07 Report on Corporate Governance 37 Consolidated Balance Sheet 94 Mirchi Music Awards 08 Management Discussion & Analysis 50 Consolidated Statement of Profit & Loss 95 International Operations 15 Auditors’ Report 59 Consolidated Cash Flow Statement 96 Perfect Ten 16 Balance Sheet 62 Notes forming part of the Consolidated 98 Financial Statements Awards & Recognition 17 Statement of Profit & Loss 63 Alternate Brand Solutions (India) Limited 124 ED’s Message 19 Cash Flow Statement 64 [Subsidiary Company] Financial Highlights 22 Notes forming part of the Financial 66 Statements Board of Directors 23 Reimagining Radio 1 “No power on earth can stop an idea whose time has come” - Prime Minister Manmohan Singh in his 1991 budget speech paraphrasing Victor Hugo Nearly half of all Railway tickets – 3.65 lacs everyday Revolutions like the Arab spring are facilitated by opportunity rather than a threat. are bought on the internet. Facebook. Videos go viral on YouTube and are seen With 27% of our listeners already online (and growing In 2011, the Income Tax Department received 164 lac IT quite literally by millions beyond their narrow by the day) and over 80% of listeners listening to radio returns on the internet. geographic confines – “Kolaveri Di” was seen by an on mobile phones, Radio Mirchi is well poised to audience from Kashmir to Kanyakumari (and beyond Marriages are no longer made only in heaven. They are capitalize on the opportunity in the digital space. At India) well before the movie was released. increasingly made on the internet. Radio Mirchi hence, we are Reimagining radio (going The Media and Entertainment Industry of which Radio beyond the constraints imposed by conventional We can buy almost anything on the internet today – Mirchi is a part cannot but be affected by the digital terrestrial broadcasting) by developing multimedia books, groceries, tickets for movies, concerts, IPL, revolution because the consumer is effectively saying: content and internet radio stations thereby further consumer durables, even diapers! “If you are not online you are not on my mind”. strengthening the brand for the future. Quite clearly the internet and the mobile phone are The digital revolution can either be a threat to an FM changing our behavior of how we shop, how we enjoy, broadcaster like Mirchi or a huge opportunity. Global how we read, how we share. experiences suggest that FM listening remains strong Twitter, Facebook and YouTube have disrupted even after the digital consumption grows manifold; traditional methods of consuming, learning and online listening only adds to the listenership of a FM commenting. News breaks fastest on Twitter. station. Mirchi sees the online medium as an Facebook.com/mirchi983fm Internet Radio Stations 2 You want to listen to the classics of Kishore and Rafi specific content to people with similar tastes. There can Purani Jeans - A Hindi Retro Melodies Station but the radio station is playing only current hits? quite literally be one station for every individual taste – you like melodious music then log on to Meethi Mirchi, You are in the mood to listen to soothing, soft and you want to listen to old classics during your lunch melodious music but the radio station is playing break, log on to Purani Jeans and if you want to groove dhinchak numbers? Scan above to to dance numbers, log on to Club Mirchi. listen to Purani Jeans* So what do you do? Reach for CDs or your MP3 player? Mirchi is developing a slew of online radio stations that But putting together a playlist is too much of an effort – cater to niche and specialized tastes. Up and running do I play all Rafi songs followed by Kishore or vice- Club Mirchi – Playing Hindi English Club Mixes on our website are three: versa or do I mix and match. And then you wish: If only there is a way in which I could Meethi Mirchi – A Modern Bollywood listen to songs without so much effort. If only radio was Melodies Channel available “off the shelf” and on demand. Scan above to listen to Club Mirchi* Enter online radio stations from Radio Mirchi. The internet allows us to smash apart the constraints imposed by terrestrial FM broadcasting. As opposed Scan above to to Broadcasting – which is one station for all listeners – listen to You can listen to all these at www.radiomirchi.com Meethi Mirchi* it allows Narrowcasting – which is a way to target very *To scan this QR code, download the QR code scanner from Nokia Ovi store, Android Market, Apple App Store or BlackBerry App World Mirchi on Social Media 3 Listeners want to be connected to their brand. They are (#songsthatmakemyday). It was a simple contest in Soon, the contest was the most popular topic of looking for more than just passively listening to radio. which people had to tweet about their favorite A R discussion on Twitter nationally. In fact, the biggest Social Media – Twitter and Facebook are a rage. Mirchi Rahman song. The best tweets would win tickets to the testimony to its popularity was the fact that some of is leveraging the full power of social media to connect maestro's concert in Mumbai. the biggest brands in Bollywood started using our with its audience. This is best illustrated by a few The contest spread like wildfire with thousands of hashtag in their own tweets. Dharma Productions, examples: people posting their favorite Rahman song. RJs helped Sony Music, PVR Cinemas, Mouthshut.com were some Trending on Twitter popularize the trend even more. Every tweet was of the big names that started tweeting about #songsthatmakemyday. In less than 12 hours, we Radio Mirchi ran a contest on Twitter replied to from the official Radio Mirchi IDs. acquired more twitter followers than most brands would get in a full month. We reached out to our fans on Twitter and the fans helped establish the fact that Tweet Reach Report for #SongsThatMakeMyDay Radio Mirchi is one of the most influential communities of music lovers online. reach activity exposure 34,374 impressions 50 tweets 39 contributors 10 minutes 4 replies 11,732 7 retweets 19,147 7,027 accounts reached 386 2 1 tweet 2-4 tweets 5-7 tweets 8+ tweets Follow us on Twitter 10.31am 10.32am 10.33am 10.34am 10.35am 10.36am 10.37am 10.38am 10.39am 10.40am Each bar shows how many accounts received how many tweets 39 tweets Snapshot of just 10 minutes from the duration of activity Twitter.com/mirchi983fm Mirchi on Social Media 4 Stars creating online buzz Another contest was the movie Kahaani Mirchi Ki Leela: The Most Downloaded Programme most downloaded content on iTunes in India with over Radio Mirchi added a new dimension to the thriller's on Radio itunes 23,000 downloads! promotion with a unique contest on Facebook called Mirchi Ki Leela was a funny Radio Mirchi take on the Scan for Sheher ki Khoyi Kahaani (”The lost stories of a city”). ever-popular Ram Leela routine done during Mirchi Podcast* Fans were asked to share an image from their city with Dusshera. We produced and aired 25 capsules of two or log on to an interesting story behind it. Hundreds sent in their minute each. A simultaneous podcast of the capsules http://itunes.apple.com/in/podcast/ radio-mirchi/id465576149 stories enthusiastically. was done on Radio iTunes page and it became the Vidya Balan - Kahaani Imran & Katrina - Mere Brother Ki Dulhan SRK & Priyanka - Don 2 *To scan this QR code, download the QR code scanner from Nokia Ovi store, Android Market, Apple App Store or BlackBerry App World Mirchi on Social Media 5 Stars creating online buzz Ranbir Kapoor - Rockstar Hrithik Roshan, Farhan Akhtar, Abhay Deol - Zindagi Na Milegi Dobara Mirchi on Social Media 6 Stars creating online buzz Akshay Kumar - Desi Boyzz Abhishek Bachchan - Players Amitabh Bachchan - Buddah Hoga Terra Baap Mirchi Mobile 7 The 59830 Experience You can take a Tamilian out of Chennai but you cannot Just dial 59830 on your mobile phone and you can take Tamil out of a Chennaite. The Idli – Sambar- Filter listen to Radio Mirchi stations in almost all Indian Coffee routine will never be replaced by Aloo languages. Mirchi Mobile also has a special Bhojpuri Parantha-Paneer-Chai. Rajni Sir will never ever be station available for those who love this popular replaced. Period. And the same can be said about language. millions of other people migrating within the country. Mirchi Mobile is carried by all the leading mobile But, how can one listen to the latest Rajni Sir song in operators thus allowing anyone anywhere in the Delhi? What is the latest gossip about Tamil film country to listen to content from any Mirchi station of industry? What happened in Chennai today – did it his or her choice. rain? How is the latest movie doing? Suddenly homesickness strikes and you yearn to know and listen to your favorite RJ from your hometown. Or you wish you could tune in to Radio Mirchi Hyderabad station in Warangal and listen to the hottest Telugu film star talk about his upcoming movie. But how? Bhojpuri Launch - Ravi Kishan Mirchi Music Awards 8 The Mirchi Music Awards recognize excellence in music and have quickly become the biggest and most respected music awards in the country. (They have also been extended to the four South Indian languages as well as to Bangla music).