UTV Ireland’s predicted losses for 2015 are double what the television channel originally estimated.
It is expected that UTV Media plc will notch up losses of £6 million – as opposed to the expected £3m – in its first year in operation.
In a statement on its preliminary results for the year, the company cited delayed negotiations with advertisers, as well as slower than expected audience build, as the primary reasons for the predicted losses.
The company, a subsidiary of the ITV network in Britain, launched its first television venture in the Republic on January 1.
While losses are predicted for UTV Ireland, the group’s other ventures showed favourable results.
talkSPORT, the company’s sport radio station, saw an increase in revenue of £5.4m, while the group’s audience share in the North of Ireland, and in its radio stations in the Republic, saw growth.
“Record audiences for talkSPORT and market leading audiences in both Irish Radio and Television underpin these results, providing confidence that our new venture UTV Ireland, will emulate its older siblings and over time, build a stronger audience base,” commented UTV Media's group CEO John McCann.