Domain has posted a net loss in excess of $137m for the past financial year.
This represents almost a 30 per cent drop, with the company blaming falling property sales for the losses.
“For FY19 Domain delivered a solid performance in the context of the challenging year faced by the Australian property market,” said CEO Jason Pellegrino.
“To put this into perspective, property sales as a percentage of Australia’s dwelling stock are at their lowest point in more than 20 years.”
The past financial year, which also marked Pellegrino’s first full year at the helm, saw revenue down 6.1 per cent to $335.6m and a statutory net loss of $137.6m.
Media, Developers & Commercial revenue declined 12.9 per cent.
Domain’s major competitor REA Group recently posted an eight per cent revenue increase for the past financial year and a six per cent lift in net profit.
Despite the worrying results, Domain seems confident its relationship with media powerhouse Nine holds it in good stead.
Pellegrino said Domain is at parity with its “major competitor” (REA Group) when it comes to listings, while it has “a cross-platform audience of around 7 million, which is around 70 per cent the size of our major competitor”.
“Our relationship with Nine provides further opportunities to expand Domain’s audience reach and engagement,” Pellegrino said.
“We’ve made significant progress since the merger of Fairfax Media with Nine was completed in December 2018.”
He described market analysis sections on Today Show, Nine News and A Current Affair as “reinforcing Domain’s property expertise” and announced the company would be launching its own Your Domain show next month.
Verizon Media’s talent program has come to an end for the third year, closing with a hybrid pitch-off event for Musicians Making A Difference (MMAD). The Verizon Media Academy class of 2021, made up of 44 emerging leaders from across Australia and New Zealand media, advertising and marketing industry, were given just one hour to […]
Social purpose organisation UnLtd’s Big Games competition has raised a combined $85,000 for children and young people at risk. Running over five weeks, the competition involved 32 teams from across the advertising, marketing and media industries battling it out virtually for a chance to qualify for the Rocket League final. The tournament culminated in a […]
Stan has announced that the Stan Original Film Transfusion commenced filming in Sydney earlier this week and will premiere on Stan in 2022. Transfusion is a taut, muscular thriller starring Sam Worthington (Avatar) as Ryan Logan, a former Special Forces operative, who is battling to cope with life after the loss of his wife and is thrust […]
According to a decade of data collected by iStock, Australian brands turned to imagery depicting outdated gender stereotypes during the pandemic. Tracking the keyword ‘women’, iStock by Getty Images found that in 2020, ANZ brands and businesses reverted to gender stereotypes. Images of mothers home-schooling were used at almost twice the rate of images of […]
Schwartz Media is congratulating Maddison Connaughton on her three years as editor of The Saturday Paper. Connaughton has decided to finish up her editorship this month. “It’s been an honour to edit the paper,” Connaughton said. “The Saturday Paper is one of the brightest voices in Australian media and I have been happy to see […]
Research from EdBbirdie using Spotify data has identified the most popular songs to study to. After analysing thousands of studying and homework playlists on Spotify, American singer Olivia Rodrigo’s ‘drivers license’ came out as top song to study to. It featured on 48 study playlists, while other top songs included ‘Ophelia’ by The Lumineers, ‘Falling’ […]
Dayna Stewart is the Business Director – Digital Marketing, Media & Creative Services at The Nudge Group. Here, she discusses the challenges that come with building a successful marketing team when working remotely. Before COVID-19 changed the way businesses work, most marketing teams spent their days together in a meeting room collaborating on the next […]
The line-up for the 2021 iHeartRadio Music Festival has been announced as the legendary event returns live in Las Vegas in September. This year, the epic two-day lineup for the iHeartRadio Music Festival main stage will feature performances by Billie Eilish, Cheap Trick, Coldplay, Dua Lipa, Florida Georgia Line, Journey, Khalid, Lil Baby, Maroon 5, Nelly, […]
Shop! ANZ is calling on shopper and retail marketing professionals from all retail related disciplines to participate in the first ANZ Shopper and Retail Marketing Industry Survey in four years. This important research provides a guide of where the retail marketing industry in Australia and New Zealand has come from and what is anticipated to […]