UTV Radio Ireland outperforms market
Revenue at UTV’s Irish radio stations grew in the first quarter of 2014 with an increase of 9%, compared with a market performance of around 4%.
In the latest UTV Media Interim Management Statement, the FM104 owner said it expects positive market conditions in Q2 (market up around 1%), to result in a revenue increase of 7% in local currency basis in this period. As a result, Radio Ireland revenue for the first half of 2014 is anticipated to be up 8% on a local currency basis on the same period last year.
The company also gave an update to its upcoming new television station, saying with ITV Studios programming providing the spine of the schedule, they are “well advanced in acquiring additional attractive programming and in developing high quality local programming which will appeal to Irish viewers.”
Staff at radio stations across Ireland will play their part in the new station too, which will launch next year. “We have appointed key personnel with proven track records in the Irish marketplace who will be supported by our already strong media team and existing base of high quality media assets in Ireland,” the company said. “We remain confident of the opportunity that the new channel offers us to create significant long term shareholder value.”