RED FM gives industry awards participation a miss amid economic slowdown and Coronavirus outbreak
Kolkata/IBNS: Considering the present market slowdown and the hurt on economy due to the Coronavirus outbreak, one of the private radio networks in India, 93.5 RED FM has taken a conscious decision of not participating in industry awards this year owing to the current market scenario.
RED FM is taking precautionary cost cuts anticipating a tough Q1 because of COVID-19.
For the time being, they have put all their on-ground events on hold.
Speaking about this announcement, Nisha Narayanan, director and COO, RED FM and Magic FM, said, “With economy slowing down and outbreak of COVID-19, there’s uncertainty across industries. Amidst the challenging times, it is imperative for all of us to take radical steps.
At RED FM, we have decided to forego all the industry awards this year so that we can utilize this money towards more critical projects. With usual continuation of our on-air and digital platforms, we are working to maximize the awareness about this pandemic.
It is highly advisable to not spread unverified news and understand that safety is utmost important for everyone around us. We need to be cognizant about the fact that encouraging any sort of panic and social gatherings will worsen this situation. We are hoping for businesses to return to its normal state in the upcoming months.”
(Image Credit: Wikipedia)
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