Chrysalis To Boost Marketing As Radio Revenues Jump 19%

Wright will tell this morning’s AGM that marketing activity at the radio group will be enhanced following the ‘exceptional’ revenue performance. In London in particular, high profile changes at a number of other stations provide the group’s Heart and LBC stations with opportunities for growth, says Wright.

Chrysalis Radio’s Heart 106.2 in London has been creeping up on rival station, Capital 95.8, in the last couple of RAJAR audience surveys. Heart reaches just under two million listeners a week and is rising, whilst Capital’s audience declined by 6.3% year on year in Q4 2003 to 2.3 million (see Capital Playing Catch-Up, Says Merrill Lynch).

Trading in the rest of the group remains in line with expectations. Chrysalis Music held the Christmas number one spot in both the US and UK singles charts, with Outkast’s Hey Ya and Gary Jules’ Mad World respectively. Royalties from overseas territories from these two songs will benefit the music division over the next couple of years.

“Overall, I am extremely pleased with the progress made across all divisions in the first five months of the 2004 financial year and believe that the Chrysalis Group continues to be well placed to maximise its potential within the newly deregulated media environment,” said Wright.

Shares in Chrysalis Group were up by 1.0% at 247.5p by 10.15am today.