REA Group, the company in charge of leading property portal realestate.com.au, has posted a 20 per cent full-year profit increase due to strong revenue growth in the Australian and Asian markets.
The ASX-listed company, which is majority-owned by News Corp, reported a 21 per cent uplift in revenue to $671 million over the 12 months to 30 June.
The group’s Australian revenue rose 17 per cent to $555.2 million during the 12-month period, while REA’s acquisition of real estate portal iProperty in February saw its revenue in Asia grow by $4.5 million to $23.9 million.
And it is the success of News Corp’s real estate businesses – REA, iProperty and Move (US) – that is tipped to drive future earnings for the media giant, according to CEO Robert Thomson.
Since News Corp split from 21 Century Fox in 2013, Thomson told shareholders that revenue in digital real estate services “has more than doubled, and is expected to become the biggest contributor to EBITDA in the future thanks to the ongoing success of REA and the rapid growth at Realtor.com® in the US”.
“Our reach in digital real estate is unparalleled and highlights the potential of the News Corp network, which is monetising shared data and maximising the value of content and traffic,” he said.
Released today, News Corp’s full-year results revealed that digital real estate services was the only segment to achieve revenue growth – up 32 per cent to $US822 million – while revenue in its news business dropped 7 per cent to US$5.3 billion.
Overall, News Corp recovered from a $US147 million loss in FY15 to post a $US179 million ($234.5 million) profit over the 12 months to 30 June, while advertising revenue fell 5 per cent to US$3.8 billion.
Mr Thomson said that while global print ad trends remain challenging for the group’s news business, News Corp is continuing its aggressive growth in digital, “which now accounts for 23 per cent of the segment’s revenues – up from 19 per cent last year.”
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 […]