UTV cuts revenue forecast for fledgling television station

UTV Media has reduced its full-year revenue forecast for its fledgling television station UTV Ireland by £2.5 million due to a slower than anticipated start to the year.

The company said there was considerable volatility in the station’s performance but added that “the strategic logic of UTV Ireland in creating leading television operations throughout Ireland remains clear.”

UTV Ireland said on Thursday it is to move its teatime news programme to 5.30pm from 6.30pm where it will compete directly with TV3’s evening show.

In a bid to boost audience figures it is also to begin broadcasting hourly news updates from 6am to 5pm and from 7pm to 9pm. The station currently provides early morning updates from 6am to 8am only.

The station’s main evening news show - Ireland Live at 10 is to remain in the same time slot.

Group revenues at UTV Media rose by 7 per cent to £29.7 million from €27.8 million for the first quarter of 2015, with television revenues up 25 per cent.

In an interim management statement, the group said it expects television revenues to increase by 37 per cent in the second quarter. It attributed the rise to growth generated by UTV Ireland.

UTV also reported revenues declined slightly from £5.1 million to £4.6 million at its Irish radio division but forecast a 1 per cent rise in revenues in the second quarter.

The company owns eight radio stations in the Republic, including Q102 and FM104 in Dublin

The group also said revenues from its British radio division, which includes TalkSport, were also flat at £13.2 million.