The big week of financial reporting by radio broadcasters continues today, with Rural Press due to unveil its full year results.
It is anticipated Rural Press, which operates stations in Queensland and South Australia, will return a net profit of more than $82 million. Also today, Village Roadshow (Austereo’s majority shareholder) releases its results.
This comes on the back of strong results this week for Austereo and Southern Cross Broadcasting (see radioinfo stories) and earlier results for West Australian Newspapers and APN News & Media. They both announced profit rises of more than 20% and promising outlooks for the next quarter.
Media buyers have been impressed by the radio industry’s performance in the past six months. Many are predicting the market will grow 7-10% this year.
In the first half of 2004, radio revenue has grown more than 15%.