This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Media
Absolute made loss in 2012, but improvement on 2011
By Chris Cooke | Published on Thursday 10 October 2013
Absolute Radio made a pre-tax loss of £2.5 million in 2012, latest company accounts show, after a year that started well but became more challenging in later months. Though the losses were still down 37.4% on the previous year, so that’s something. Revenues were pretty much the same in 2012 as in 2011.
The firm’s CFO Adrian Robinson told MediaWeek: “2012 was a year of two halves, as they say at football matches. The Olympics affected most media organisations in some way. We had a buoyant first half, which collapsed in the second half. A feature of being one of the smaller stations, you tend to be able to outperform when the market is rising and struggle more when the market is struggling”.
As previously reported, Bauer Media acquired the national rock station earlier this year. According to Radio Today, rather than moving Absolute into its existing offices, Bauer is planning to move its other London-based radio stations into Absolute’s Golden Square base once the acquisition is complete.
