UBC Media, owner of Classic Gold, today announced that it is starting to reap the benefits of the emerging digital radio market, as revenues for the year grew by 29.1% to £13.3 million.
Revenue from the groups Unique Interactive unit, which supplies digital radio software to over five countries, rose by 62% for the year ending 31 March 2004. It was announced this morning that a further two digital radio contracts had been won with Intereconomia in Spain and Pure Digital in the UK.
This morning’s statement described 2004 as the year in which digital radio came of age, as over the past 12 months penetration of digital radio pushed the half million mark.
Speaking of this chief executive, Simon Cole said: “This is a significant point in the development of the company. Four years ago we set out to become a major force in the emerging digital radio market. The new era is with us now and UBC is earning revenues from digital across all its divisions. We are well positioned to capitalise on what we expect will be a rapid rise in digital radio services over the next few years.”
At Classic Gold, 27% of the audience is now listening on digital platforms rather than analogue says the statement, while production revenues for BBC commissioned programmes for digital channels rose by 11%.
Turnover from sales of commercial radio advertising was also up, doubling following the launch of the new traffic and travel radio network.
Looking forward, momentum for airtimes sales continues in the current quarter as April to June revenues are up 78% on quarter one 2003. Cole said: “The way in which UBC has responded to the challenges and opportunities of the past year gives me confidence that the next 12 months will see continuing progress. The board is optimistic that prospects for the company are good.
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