Trading up for GMG Radio
GMG Radio has announced that, despite a cloud of gloom across much of commercial radio, revenue figures for the first three months of the new financial year have surged ahead. Trading for both its Real Radio and Smooth brands was up 26% from April to June 2006.
The increase in revenue comes after The Guardian Media Group Plc reported last week that revenue growth for its radio stations for the year to April 2006 outperformed the market with a 13.9% increase in turnover to ?27.9m with profits up by 170% from ?1.0m to ?2.7m.
The latest quarterly audience figures published recently by industry body RAJAR have seen the Group report an all time high record reach and now attracts over 3 million adult listeners per week. It has also seen the newly created smooth brand, rebranded from Jazz fm two years ago, become the most listened to commercial radio station across the North West region, while London witnessed an increase quarter on quarter of 30% in market share. Real Radio continues to be No.1 commercial radio station in Scotland** and in Wales***, while Yorkshire saw a further increase in listeners.
John Myers, Chief Executive of GMG Radio said: ?I am proud of this achievement in a tough climate. We simply focus on what we do and then aim to do it well. It?s a policy that seems to be working?
Carolyn McCall, Chief Executive of GMG said: ?This is great news for our radio division and also for GMG. With new and improved audience figures it is a great start to the new year?
GMG Radio has recently submitted an application to the regulator OFCOM for the newly advertised broadcast licence for Liverpool and will deliver further applications for Manchester, South Wales and Aberdeen later this year.