Ocean FM pintpoints digital growth as key to their future
Published 22/04/2014 | 05:40
Ocean FM has pledged to keep pace with its listeners' tastes and interests and continue to innovate and excite.
In its submission to the BAI the station says that what it is doing today "is the optimum mix" and "right for the tastes and interest of our audience".
Ocean FM has had the licence since 2004.
It says it is the smallest local station in the country but its commitment to high-quality content has made it one of the most decorated.
It received five gold awards at the most recent PPIs and the 2013 Prix Europa Award for radio stations.
Ocean says it exists to serve the needs of its listeners and that it should never rest on its laurels.
"Everything we do should be regularly challenged and improved," the submission states.
It points out that no one could have predicted the pace of change in media when it first broadcast in 2004.
"A radio business that remains solely reliant on a one way, FM platform and traditional radio content will struggle to survive in this new world," it says.
Ocean says stations in small franchise areas will have to evolve and broaden its commercial footprint to continue to resource quality programming.
The radio station says it has begun to change its business from the FM radio station it launched nine years ago.
"We produce local content in written, audio, photographic and video formats for FM and web platforms on 102.5/105FM and www.oceanfm.ie
"And, because the media market in the North West is so small and the available revenue is limited we have also begun to leverage out skills and expertise in other ways.
"We want to become the leading local provider in the digital economy in the North West.
"Our future will be influenced by how well we implement this strategy," the submission says.
It points to high listenership levels spread across all age groups.
Some 13% of listeners are aged between 25-24, 16% are 35-44, 17% between 45 and 54, 20% between 55 and 64 and 29% are over 65.
The submission lists the 24 shareholders of North West Broadcasting Ltd which trades as Ocean FM.
More than 85% of the shares are held by eight individuals.
These are: Padraig O'Dwyer (23.5%) of Letterkenny, CEO of River Media; John Keon (6.19%), Ballyshannon businessman; Ocean FM CEO Tim Collins (14.64%); Car dealer Martin Reilly (14.78%); Pat Clifford of Clifford Electrical (11.75%); Sean Grant (5.84%), a lecturer and consultant from Letterkenny; Tony Porter (4.23%), chartered accountant from Rosses Point; Noel Shannon (4.27%) from Newbridge, Communications Manager with Irish Water.