Revenue up 6% at UTV’s radio arm

Combined revenue from UTV Media’s radio assets in the Republic grew by 6% on a year-on-year basis in the first quarter of this year.

In its latest trading update, the Belfast-based broadcasting group said yesterday that its Radio Ireland division — which operates the likes of Cork stations, C103 and 96FM; Limerick’s Live95 and Q102 and FM104 in Dublin — generated revenues of £5.1m (€6.25m) during the three months to the end of March.

In euro currency terms, the like-for-like increase was higher at 9%, but either way the portfolio of stations outperformed the wider radio market, here, which grew by around 4%.

Furthermore, UTV’s management said that it expects Radio Ireland to see annualised revenue growth in the current quarter of 4% (7% in local currency terms) and year-on-year growth of 5% for the first half of 2014, as a whole.

Regarding television, and ahead of its planned new station launch in the Republic early next year, UTV said that Irish TV NAR (net advertising revenue) was up by 11% year-on-year in the first quarter, with total revenues ahead by 4%. Similar annualised growth is anticipated for the current quarter.

“It is encouraging that revenue growth had returned to the Irish television market as we progress our plans to launch a new television channel in Ireland in 2015,” management said.

“With ITV Studios programming providing the spine of the schedule, we are well-advanced in acquiring additional attractive programming and in developing high-quality local programming, which will appeal to Irish viewers. 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.”

On a group-wide basis, UTV yesterday reported first-quarter revenues of £27.8m, 7% up on the corresponding period last year. Its total television revenues were up by 4% year-on-year to £9.4m, while its Radio GB revenues grew by 10% to £13.3m.