Wireless Group Grows Turnover And Reduces Costs

However, loss for the financial year grew from £27.5 million last time to £34.2 million. This is due in part to the acquisition of the loss-making Independent Radio Group in October 1999. The group says that another significant factor contributing to the loss was investment in marketing and sports rights acquisitions to build the new Talksport brand following its repositioning in January 2000.

The Wireless Group says that its Q1 turnover growth of 22% significantly outstrips the IPA’s overall market growth figure of 2.4%. The group’s national Talksport station saw turnover up 41%, whilst the local stations’ turnover increased by 12%.

At the local stations, revenues were skewed towards local direct advertising, but shifting towards higher-growth national revenue. National revenue constituted approximately one-third of total ILR revenue, up from approximately one-quarter in 1999, the company said.

Talksport now has a weekly audience of 2.2 million, which is 76% male; more male, it says, than the Financial Times (73%) or Sky Sports (67-71%).

Chairman and chief executive Kelvin MacKenzie said that new football broadcasting rights – including full game coverage of Chelsea, Fulham and Tottenham Hotspur – will drive Talksport’s audience and revenue further.

Wireless Group shares were down 2½p at 122½p by 11:00 this morning.