Small Talk: Profits slump for TalkSport owner UTV after fall in advertising
Tuesday 27 August 2013
Profits have slumped more than 40% at TalkSport owner UTV because of an advertising drought as there has been no big football tournament this summer.
Chief executive John McCann blamed tough comparisons with Euro 2012, saying that contributed to nearly three quarters of TalkSport’s 20% drop in half-year sales to £13.8 million.
Stripping out the impact of the Euros, revenues were down about 6% — better than the wider radio market, which fell 9% in the first six months of the year.
TalkSport’s blokey editorial coverage has managed to pull in record audiences this year, according to Rajar industry figures, thanks to presenters such as Johnny Vaughan, top right, and Stan Collymore, bottom right, and it has just signed Colin Murray, left.
But McCann said it had been “very difficult” to increase prices when the market as a whole was depressed.
He was upbeat about the second half of this year as UTV, which also operates the ITV channel in Northern Ireland, is seeing signs of optimism among both UK and Irish advertisers.
“There’s generally a sense of things starting to improve,” said McCann, who forecast that TalkSport’s revenues would be up 5% in August and 10% in September, while TV should be up as much as 11% across the third quarter.
“Having had a very tough first half, all of our broadcasting business are improving from Q3 to Q4,” he added, likening UTV’s full-year performance to “a game of two halves”.
Half-year pre-tax profits slumped 43% to £6 million from £10.7 million.
TalkSport, based on London’s South Bank, is expanding overseas as it has the international radio rights to broadcast all 380 Premier League games a season.
“If you go into TalkSport’s offices on a Saturday, you’ll hear people commentating in nine different languages,” said McCann.
- 1 Jennifer Lawrence scores first UK top 40 single with Hunger Games track 'The Hanging Tree'
- 2 Shia LaBeouf claims he was raped during #IAMSORRY art installation performance
- 4 Scientists predict green energy revolution after incredible new graphene discoveries
Obama: The only people with the right to object to immigration are Native Americans
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
David Cameron sets out immigration reforms: We should distrust Ukip and their 'snake-oil of simple solutions'
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
iJobs Money & Business
Excellent Package: Austen Lloyd: EAST ANGLIA - SENIOR SOLICITOR LEVEL ROLE** -...
£Attractive Package: Citifocus Ltd: Prestigious asset management house seeks a...
£Negotiable: Citifocus Ltd: This is a varied role focusing on the firm's mutua...
£90000 - £140000 per annum + benefits: h2 Recruit Ltd: Are you a high achievin...