STOCKHOLM, Sweden, April 4, 2003 (PRIMEZONE) -- Modern Times Group MTG AB (Nasdaq:MTGNY) (Stockholm:MTGa), the international media group, today announced that its RIX FM national station is for the first time now bigger than both P1 and P3, the two state-owned national public service radio stations. This is the first time in the history of the Swedish radio industry that a commercial station has attracted more listeners than the public service stations.
The latest survey by official industry research company 'RUAB' shows that 860,600 (11.3%) of Swedes listen to RIX FM each day. This marks an increase of 80,000 listeners for RIX since the survey conducted at the same time last year. P1 and P3 attracted 805,800 and 783,600 daily listeners respectively, whilst the distance between RIX and its commercial rivals has increased with MIX Megapol and French radio group NRJ attracting 457,900 and 518,100 daily listeners respectively.
RIX's popular morning 'drive time' show, "RIX MorronZoo", continued to be the number one morning show in Sweden with 508,300 daily listeners, compared to P3's 448,500. The show was voted the best radio show in Sweden and was awarded the "Guldhornet" award earlier this year, with the nearest commercial show ranked tenth.
The combined daily reach of MTG Radio's stations (RIX FM, Lugna Favoriter, Power Hit Radio and Metro FM) is now 1,155,300 listeners.
MTG also owns and operates the two largest commercial radio channels in Stockholm, 'Lugna Favoriter' and 'Power Hit Radio'. Soft Adult Contemporary format station 'Lugna Favoriter' increased its daily reach in Stockholm to 152,500 listeners, equivalent to a 9.7% daily reach, and continues to be Stockholm's largest commercial station ahead of P3. Contemporary Hit Radio format station 'POWER Hit Radio' increased its daily listener numbers to 118,200, representing a 7.5% daily reach in Sweden's capital, and maintained its position as the second largest commercial station in Stockholm. 'POWER Hit radio' beats all other stations on the market, including the government stations, when it comes to the target 15-34 year old age group.
Hans-Holger Albrecht, President and CEO of MTG, commented: "This is a remarkable achievement and firmly establishes MTG Radio as the market leader in Sweden. Despite the lower penetration available to commercial stations, MTG has successfully built the largest national radio station in Sweden and the leading stations in Stockholm and Gothenburg. Not only do MTG's stations attract the largest number of listeners, but we also deliver the target groups that advertisers want. Both listeners and advertisers appreciate a strong commercial player in the Swedish radio market".
For further information, please visit www.mtg.se email: info@mtg.se, contact: Hans-Holger Albrecht, President & CEO tel: +46 (0) 8 562 000 50 Matthew Hooper, Investor & Press Enquiries tel: +44 (0) 20 7321 5010
Modern Times Group is a leading vertically integrated media group with broadcasting, production, content and media services businesses, operating in more than 30 countries around the world. MTG is the largest Free-and Pay- TV operator in the Nordic & Baltic region, and also has Free-TV operations in Russia and Hungary. MTG is the largest commercial radio broadcaster in Northern Europe, the global market leader in DVD subtitling and dubbing, and a leading international Reality-TV production house.
MTG's 'A' and 'B' shares are traded on the Stockholmsborsen 'O-list' and its 'B' share ADRs are listed on Nasdaq.
This press release contains certain "forward-looking statements" with respect to our expectations and plans, strategy, management's objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that our actual results in the future could differ materially from those anticipated in forward-looking statements depending on various important factors. Please refer to the documents we have filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including our most recent annual report on Form 20-F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to us on the date hereof. All written or oral forward-looking statements attributable to Modern Times Group, any Modern Times Group members or persons acting on our behalf are expressly qualified in their entirety by the factors referred to above. We do not intend to update these forward-looking statements.
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