The first three months trading of 2013 for UTV Media shows company revenues are down across radio and television divisions.
“Radio GB” revenues reduced by 7% over the period with decreases of 10% in talkSPORT and 3% in their Local Radio business compared to a UK radio market which declined by 2%.
The company expects talkSPORT will continue to lag the market due to the impact of Euro 2012 and they anticipate that total revenue in Q2 will be down 14% compared to the same period in 2012
It’s a similar story in Ireland too with UTV’s “Radio Ireland” revenues down 10% on a local currency basis in the first three months of the year, with the company blaming the on-going volatile market conditions in Ireland.
“We believe that we continue to outperform the market. Q2 revenues are anticipated to be down by 6% compared to last year (down 10% on a local currency basis),” UTV said in a statement today.
UTV Media owns and operates seven radio stations in Ireland including U105, FM104, C103 and Q102.
Only UTV’s New Media division had increased revenues – which went up by 9%.
The company says it remains cautious about the outcome for the year and has implemented additional cost saving measures.
Posted on Thursday, May 16th, 2013 at 12:05 pm by RadioToday Staff