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The financial performance of P4 slowed considerably last year, but was saved by the strong growth of P5. Director of Radio Kenneth Andresen said, "The surplus of the largest commercial radio channel P4 has fallen by 35% to reach 45 million in 2017. But P5 and the Modern Times Groups (MTG) have won almost as much business as P4 lost. He writes Today's Business
In total, MTG's radio activity was down 9% over the previous year.
– It is crucial to see the P4 and P5 in context. The many small chains, located in the company P5, develop as a result of the digitization. According to Peth, Kenneth Andresen, director of the P4, said the P5 has increased in 2017, when P4 and all other major national channels in Norway turned to digital radio. The change took the form of loss of presence, and the number of listeners decreased for most channels.
In total, the pre-tax earnings of P4s and P5s fell from around NOK 9 million to NOK 92.5 million
"This is a case of result that does not come due to the fact that it is not a good business. a content failure, but because we are investing a lot in content and marketing, 2017 will be one of our best years, despite the fact that it was the end of the year, says Andresen.
