Global grows radio ad revenue by £12m

The group behind Capital Radio, Classic FM and LBC has reported a five per cent rise in radio advertising revenues, according to results filed at Companies House.

Nick Ferrari interviews the Prime Minister Theresa May on Global station LBC
Nick Ferrari interviews the Prime Minister Theresa May on Global station LBC

The results show that commercial radio advertising revenue rose from £254.7m in the year to 31 March 2016 to £267.1m in the year to 31 March 2017.

Total revenue rose from £276.2m to £302.6m, in part thanks to an £11.7m contribution from the music festivals acquired part-way through the year. The festivals’ full-year contribution will be much greater, according to the company.

The company changed its name from This is Global to Global Media & Entertainment early last year to reflect its widened activities.

Adjusted EBITDA rose 4.4% to £77.8m and the company, which is primarily debt-funded, reduced its net liablities from £455.6m to £347m.

Last month Campaign awarded Medium of the Year to Global in recognition for achievements such as increasing its audience across broadcast, online and social to a new high of 31 million.

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