Ashley Tabor’s Global Radio reported losses of nearly £30m, but revenues rose by 4.2%, compared to an industry average of 1.4% The owner of Global Radio saw losses widen to almost £30m for the year to the end of March, thanks to a substantial payment to shareholders, while operating profits grew by a healthy 11% to £37m. The UK's largest commercial radio operator reported a 4.8% year-on-year rise in revenues from £209.4m to £219.5m. The company said this was an "excellent performance" against the wider commercial radio industry, which it says grew revenues by just 1.4%. Operating profits rose by 11.4% year on year from £33.3m to £37.1m.
Statistics:
-The UK's largest commercial radio operator reported a 4.8% year-on-year rise in revenues from £209.4m to £219.5m.
-Staff costs rose from £55.8m to £57m as numbers grew from 1,059 to 1,111.-In June last year, Global repaid £50m of loans "from a connected party".
My View:
It is very surprising that radio platform is still generating revenue because it was old tradition and no one uses it. The reason why it is surprising is because people now days like to interact they don't like the old tradition ways to get information or to listen to music because the internet fulfils that desire of them. There are so many sources which allow the audience to download the music, it allows them to listen to it whenever they want. People don't have to wait till their faviuorte song comes up on the radio. They can access it in seconds because of the developments in new and digital media.
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