UTV reports stable group revenue for third quarter despite TalkSport 15 per cent decline
TalkSport owner, UTV has revealed a 1 per cent increase in group revenue for its third quarter, but a 7 per cent decline in group revenue for the first nine months of the year, down to £83.3m.
The media company has revealed its financial figures for the current financial year, with the most recent quarter, which ended in September, seeing a decline in radio revenue and new media of 3 per cent to £13.1m and £2.9m respectively, while Radio Ireland grew its revenue by 5 per cent to £4.7m and television revenue also increase by 9 per cent to £7.5m.
TalkSport’s revenue during this period fell by 15 per cent (in comparison with the same period last year when the European Championships were held) but revenue within the station did grow by 5 per cent and 8 per cent during September and August respectively, while local radio revenue was also up by 2 per cent and 1 per cent during the same months.
The company said that it had operated during the first half of 2013 in “very difficult conditions” was expected to see revenue growth during the second half of the year, and looked towards 2014 with expectation of an “improved market”, with commercial opportunities expected to be created by the Fifa World Cup.
Last week, UTV announced plans for a new Irish TV channel, based on its broadcast deal with ITV Global Entertainment.
The company has also increased its net debt to £56.1m from the same period last year, it revealed.