Radio revenues drop ten per cent at UTV
The first three months trading of 2013 for UTV Media shows company revenues are down across radio and television divisions.
“Radio Ireland” revenues were 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.
It’s a similar state in the UK too, with “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%.
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.