The Local Radio Company is expecting the relaunch of its music station Jazz FM to boost its full year results. In a trading update, LRC also says its national radio sales house, First Radio Sales, has contributed to revenue growth of about 2%.
Its web sales are similarly expected to represent 5% of turnover by the end of the year. LRC admits, however, that it has been a “difficult year” for advertising sales, which it expects to be down by 4% on the previous year.
The company says it has taken steps to reduce costs and has “disposed of a number of unprofitable stations”, including its 64% stake in Central FM.
LRC announced it had signed a three-year licensing agreement with Guardian Media Group in June this year. The station was initially launched in 1990, before being sold to GMG in 2002. Jazz FM will relaunch on October 6 on digital audio radio and online.
It has launched an advertising campaign this week created by WARL, which sees the return of its chameleon icon with the strapline: “Listen in Colour” (MW October 2).
The company will publish its results for the full year ended September 30 2008 in December.