GWR Sees Radio Revenues Up By 8% In 2003
GWR Group, owner of Classic FM, is expecting analogue radio revenues to grow by 8% year on year for the twelve months to 31 March, following a strong performance from national revenue in the final quarter.
The group says that revenues for its financial Q4 will be up by 7%, with national spend jumping by 13% year on year. The Local Radio Group (LRG), which generates about 70% of GWR’s revenue, should see growth of 6% in the quarter, with local spend up 8% and national up 3%.
The latest figures from the Advertising Association put radio advertising growth at 6.8% in current prices for the calendar year 2003.
GWR says that the new financial year has started positively, as the overall trading outlook continues to improve with strong advance booking levels.
Updating on digital radio, the company said that last year’s sales of DAB digital radios sets achieved its target. The Digital Radio Development Bureau target for 2004 is cumulative sales of one million units.
The latest independent survey, initiated by the DRDB, shows that 73% of those surveyed who have bought a digital radio did so to receive new digital stations; 45% bought to improve the reception of existing stations.
GWR Group: 020 7284 3000 www.gwrgroup.com
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