View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

UTV Media now makes two thirds of profits from radio

By Paul McNally

Northern Irish broadcaster UTV has announced a profit rise at its network of radio stations, but warned that advertising was down about 15 per cent since the New Year.

The company, which owns TalkSport and the Northern Ireland ITV franchise, reported flat group operating profits at £28.1m on revenues up six per cent to £120.3m.

While profits from television fell 24 per cent to £7.7m, the radio division reported a 12 per cent increase to £18.5m and now accounts for two thirds of group profits.

UTV’s flagship national speech radio station, TalkSport, saw revenues rise six per cent to £22.7m in 2008. Total radio revenues across UTV’s stations in the UK and Ireland were up 13 per cent at £70.8m.

But the company said TV advertising in the first quarter of 2009 was down 19 per cent on last year. Radio advertising in the same period was down 15 per cent.

UTV group chief executive John McCann said: “Given the wider context of the economy and advertising markets, I am pleased with today’s results and our prospects for the future.

“These are clearly unprecedented times and the impact on the Irish and UK economies is well documented.

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

“The advertising sector is feeling the full force of the downturn and clearly that is an issue we are actively addressing.

“We are not complacent about the situation, but as a management team we are confident of the operational and financial strength of UTV Media.”

In the past year, UTV has disposed of radio stations in Dundee, Stockport and Edinburgh, which between them were making a loss of £1.5m.

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network