Madhukar Pandey, former business head of Reliance Broadcast Network Ltd (RBNL), is all set to launch his own Internet radio channel christened RadioWhiskey.in. He will run the venture in collaboration with two more partners (names to be disclosed after a few days). The channel is still under construction but is expected to go live in July.
The new channel will mostly play Indian music, along with other popular genres.
Speaking to Techcircle.in, Pandey said, “The core target is youth – from school-going kids to office-goers.”
The radio station will generate revenue mainly from pop-up advertisements and audio commercials. The channel also plans to have a shorter ad inventory of about two minutes per hour, which will be divided into 20-second slots.
The founders are also working upon developing apps for various platforms like BlackBerry, iPad and iPhone, among others.
As claimed by Madhukar, the Mumbai-based startup is currently self-funded, but has received ample investor queries from India and abroad. “Right now, we are adequately funded. But in order to scale up our operations further, we may need more money. But that’s not in near future, for sure,” he added.
Right now, they have an office in Mumbai, but may set up sales offices in state capitals as per the ad revenue model requirement.
Pandey has over 14 years of experience in media, life insurance and IT space. Prior to joining RBNL, he had worked with MetLife Insurance, NIIT, CMC and Informatics in various capacities.
The new Internet radio channel is bound to face stiff competition from Venturenet Partners Pvt Ltd’s Radiowalla . Earlier this year, the company secured an undisclosed amount in series A funding from Ojas Ventures Partners and it is already looking for the next round (mainly because it exceeded the number of stores targeted for SpotRadio). Even Timbre Media, which has plans to launch Internet radio soon, would give RadioWhiskey a run for its money.
(Edited by Sanghamitra Mandal)