New Delhi: India’s private FM radio industry is facing a serious survival challenge, with HT Media’s decision to surrender several radio licences triggering fresh alarm across the sector.
According to a regulatory filing cited in the report, HT Media’s board has decided to surrender licences of several stations operating under Radio Nasha, Radio One and Fever FM brands. The move may lead to the closure of Radio Nasha 91.9 FM in Mumbai, Radio One 94.3 FM in Delhi, Mumbai and Bengaluru, and Fever 91.9 FM in Chennai from June 15, 2026.
The decision comes at a time when other major players have also scaled down. TV Today Network recently exited radio operations in key cities, Big FM has faced insolvency proceedings, and RED FM has surrendered Magic FM in Mumbai. Industry stakeholders warn that thousands of jobs and government revenue are at risk if the policy framework is not corrected.
The Association of Radio Operators for India has argued that while India’s media and entertainment sector grew in 2025, radio revenue fell by 7 per cent to ₹23 billion. It has blamed unresolved policy challenges, high licence fees, 18 per cent GST and deactivated FM chips in smartphones for the sector’s distress.
Industry representatives have sought a four-point rescue formula: allowing news and current affairs on FM radio, extending Phase III licences after 2030 under a 4 per cent AGR model without fresh auctions, reducing GST from 18 per cent to 5 per cent, and making FM radio receiver activation mandatory on mobile phones.
An industry representative described HT Media’s move as a warning sign, saying India’s private radio industry is “heading towards illness”. The sector believes radio can survive only if policy reforms recognise its role as a free, local and mass-medium platform.