UBC Media’s financial results for the six month period to 30 September show the company is maintaining a strong trading position, whilst developing new digital radio models.
Overall operating profit fell to £21,000 from last year’s £58,000, whilst gross profit remained at £2.4 million.
Turnover for the group reached £9.1 million, slightly down on last year’s £9.4 million, while billings in the period were £9.4 million.
UBC have invested over half a million pounds over the last six month in their new DMD, Digital Music Downloading, technology, which was announced today. The service allows digital radio users to instantly download music tracks as they hear them on their radio to their home computer or mobile device.
Commenting on the financial results, Simon Cole, CEO of UBC Media, said: “The UK radio industry is in a period of structural change. Radio listening remains strong and radio is being consumed more on new digital platforms. It is clear, however, that the future of the industry relies on the development of new revenue models. These are the models that we at UBC have been developing – like the direct sale of music via digital radio stations – and they are now bearing fruit.”
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