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

Scroll Media Recruits Costa Panagos From Twitch
  • Advertising

Scroll Media Recruits Costa Panagos From Twitch

Digital publisher network Scroll Media has employed ex-Amazon Twitch gaming executive Costa Panagos (lead image) to strengthen its Scroll Gaming capability. Panagos is highly experienced in game advertising and media sales professional with two years in account management at Twitch and three years in media sales at News Corp, so will bring his extensive media agency […]

Year13, Microsoft & KPMG Australia Launch AI Course For Gen Zs
  • Technology

Year13, Microsoft & KPMG Australia Launch AI Course For Gen Zs

School-leaver service Year13 has launched a new Artificial Intelligence course to upskill young people in AI, made in collaboration with Microsoft and KPMG, at an event to rally industry support behind youth AI fluency. The free online course AI Amplified which is part of Year13’s Academy aims to provide all young people with the opportunity […]

General Motors Snares Heath Walker From Scania
  • Advertising

General Motors Snares Heath Walker From Scania

General Motors has announced the appointment of Heath Walker (lead image) as the new marketing director for GM Australia and New Zealand, effective April 23, 2024. Walker brings a wealth of marketing and communications experience gained from working across various industries, including IT, sporting, and auto – notably Tesla, Nissan and most recently, Scania in […]