CLARE FM’s profits have dropped by almost a fifth, partly because of rising staff costs, according to figures recently supplied to the Companies Office.
To the end of 2004, Clare FM secured a profit of €92,000, which was €21,000, or 18.5 per cent, down on 2003. Turnover increased during the period, to €1,505,000, but so did costs. The figures also show that the station secured €1.505 million in advertising revenue in 2004, up on the 2003 figure. Staff numbers increased by one to 34, and costs by 11 per cent, from €660,000 to €734,000. The station’s managing director, Liam O’Shea was appointed to the Board during 2004 and has the second largest number of shares held by a member (20,365). The board member with the highest number of shares is Michael Evans, with 30,000.
Clare FM’s drop in profits coincided with a drop in market share and listenership in 2004. Figures published in August of that year show that listenership had dropped 7 per cent. However, the most recent figures show that market share increased by 5 per cent. And the station’s long-term future is secure after it obtained a 10-year licence from the Broadcasting Commission of Ireland (BCI) in 2002. Clare FM – which started broadcasting in 1989 – was sole applicant for the continuation of the licence.
Meanwhile, the station yesterday launched a new opt-out service for south-east Clare, Clare FM 2, in a bid to secure more listeners. This involves the return of Ger Sweeney to present an afternoon country music show, initially for three hours per day.
Commenting on the new service, Clare FM’s Managing Director Liam O’Shea said: “this is hugely exciting for us as a company. We have always wanted to provide diversity of programming for our listeners and with our new state of the art Studio in Shannon we now have that opportunity.
“Our listeners in the South East of the county will be the first to experience this diversity, although any of our listeners in other parts of the county who can pick-up 95.9Mhz on their radios will also be able to tune in.”