Kolkata: The managing director of the Times Group, Vineet Jain, on May 5 predicted that commercial radio would be the 'second big-bang success' in India after the telecom revolution, despite reports of fluctuating fortunes of private radio companies.

Addressing the inaugural function of 'Radio Mirchi 98.3 Frequency Modulation (FM), Jain pointed out that while some sections of the media recently reported on the fluctuating fortunes of the private radio companies, commercial radio had a proven revenue model across the world which worked even during recession and there was no reason why it should not flourish in India.

''Every reform process has its own hurdles. We, as leaders of this nascent industry, believe that a spirit of partnership between the government and the private radio companies will ensure that the reform process in this sector will be the second big-bang success after telecom and the issues facing the industry will be addressed.'' Jain said.

Radio Mirchi is part of Entertainment Network India Limited, a Times Group company.

The 'Times Group' believed in the power of the radio as the most preferred medium for information and entertainment, he said adding that having launched in Mumbai, Indore, Ahmedabad, Pune and Delhi, its inauguration in Kolkata established 'Radio Mirchi' as a national brand.

The channel is soon to be launched in Chennai, followed by Bhubaneswar, Jain added.

PTI