Immedia Group sounds upbeat note on Subway radio uptake

(ShareCast News) - AIM-listed Immedia Group said on Friday that it is seeing much higher-than-expected uptake of its Subway radio streaming platform by franchisees, further to the contract announced back in April.The company, which supplies digital audio content solutions, said it expects uptake to accelerate further in the next financial year as the service is rolled out across existing stores and new franchises are opened."Immedia is also at an advanced stage of product and service development with a major UK retailer and an announcement of a substantive deal is expected in the near future," the company said.It also announced on Friday that its contract with Arcadia Group will expire in December.At 0945 BST, shares were up 14% to 38.26p.