Seemingly unaware that the radio advertising market is reportedly under siege, British media group Chrysalis enjoyed surging revenues for its fiscal first quarter.
The nation’s fourth largest commercial radio firm posted a 17% jump in radio ad income between September and November, boosted by higher ratings at its Heart 106.2 London station.
“Despite the continuing uncertainty surrounding the wider economy, we have enjoyed another good start to the current financial year,” declared chairman Chris Wright.
Chrysalis is outperforming rivals such as Capital Radio, where ad revenues fell 8% in October and November.
Continued Wright: “Recent audience figures and increased revenue yield give us great confidence that this outperformance will continue for the foreseeable future.”
The group – further lifted by strong performances from its music and TV production divisions – posted a pre-tax profit of £5.7 million ($8.9m; €9m), up from a £16.8m loss in Q1 last year, on a 25% surge on turnover to £241m.
Data sourced from: MediaGuardian.co.uk; additional content by WARC staff