Despite talk of recovery and a surge in share prices, total year-on-year ad revenues are down 12% at Classic FM, GWR said in a trading statement although the group added that recent short-term performance has been more encouraging.
GWR's portfolio of local stations, which bring in two thirds of the group's total revenue, turned in a much better performance, with a 10.4% year-on-year increase for the six months to September 30. National airtime and sponsorship revenue is up 18.9%, an improvement the company attributes to recent sales initiatives.
The statement reported a positive outlook for GWR's digital offering, with encouraging uptake figures and Sony's announcement that it will soon launch a portable digital radio receiver.
Classic FM was last week declared the businessperson's commercial station of choice by the British Business Survey 2003, with a reach of 19% among the top 1.5m earners in the UK. In July's Rajars, its weekly reach had dropped year on year from 6.9m to 6.6m.
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