Earnings: UBC Salvages Cliq For Internet Radio, Cuts Costs Amid Profit Fall
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UBC Media’s defunct Cliq mobile/radio music download service will finally see the light of day in the next few weeks, in a new range of internet-enabled radios. The radio services company developed the technology last year, hoping stations would use it to let their listeners buy on-air tracks via PC and mobile download. But there was too little take-up and UBC closed the service in June with a £2 million loss.
SEE ALSO: UPDATE: Cliq Fails To Click, Mobile/Radio Music Service Closes With £2 Million Loss
But UBC retained the Cliq IP, planning to market the technology to other device makers. In its April-September earnings on Monday, UBC said the first fruits will be a WiFi radio launched by Imagination Technologies, which licenses technology for digital media manufacturers, in the coming weeks.
That was perhaps the brightest spot in the earnings, however - in the data and interactive unit from which Cliq came, sales dived 32.6 percent on regulatory delay for the merger of its biggest US customer XM Satellite Radio with Sirius (NSDQ: SIRI). But things were buoyed by the contract from the BBC to make its iPlayer radio EPG.
Overall turnover is down 15.2 percent to £6.42 million and UBC is looking to save money, having so far saved £500,000 in the six-month period: “In response to what we expect will be a prolonged and deep downturn in business sentiment, we are continually reviewing the entire cost-base of the group.” Results.
Posted In: Media & Publishing, Radio, Money, Earnings, ubc media
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