King Content Plagues Isentia With $24 Million Full-year Loss

King Content Plagues Isentia With $24 Million Full-year Loss

As expected, media intelligence company Isentia has fallen into the red for FY17, with the writedown of its content marketing arm a big factor in the company’s full-year results.

Isentia saw profits fall 24 per cent to $24.7 million in the 12 months to 30 June 2017, largely due to a $39.4 million writedown of its King Content business.

The company announced it would axe the King Content brand earlier this month due to its recent poor financial performance, after acquiring it over two years ago for $48 million.

Revenue for Isentia’s content marketing division fell 30 per cent to $14.4 million over the 12-month period, while overall revenue was down 1 per cent to $155.1 million.

Isentia’s expenses before interest, tax, depreciation and amortisation (EBITDA) dropped 19 per cent to $41.5 million.

In a statement to shareholders, Isentia CEO John Croll admitted that FY17 was a “disappointing” year, with the business performing below expectations, particularly at King Content.

“The board and management remain confident in the market positioning of Isentia and we have implemented initiatives to improve performance across the business,” he said.

“Client retention is strong with stable client numbers in FY17 Q4, and Isentia has delivered a number of product improvements to support its market-leading position.”




Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]