Encouraging Start for UBC
UBC Media Group have reported an encouraging start to the new financial year and is performing in line with expectations, Chairman John Hodson will announce to shareholders later today. The Cliq music downloading-music-to-mobile service is also on track for a successful launch.
John Hodson: UBC completed its sale of the Classic Gold Digital network of radio stations in June. Excluding Classic Gold Digital, revenues for the Group in the first quarter were ahead 19.8% year-on-year. In particular, our radio advertising business traded strongly, with revenues in the period up 30% year-on-year, although the radio
advertising market remains volatile. The Company's cash balance at the end of June was £5.9 million.
"We are making good progress towards the launch later this year of Cliq, our service allowing listeners to buy music directly from radio stations. In addition to our deal with Imagination Technologies announced on the 25th June, we also expect that the service will be available on most mobile phones in the UK. This will be via a Java software application that is currently undergoing development and testing. This extension of the technology will make Cliq available to the vast majority of UK radio listeners from launch'.
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