Southern Cross Austereo Defies Media Advertising Rut With Half-Year Profit Surge

Southern Cross Austereo Defies Media Advertising Rut With Half-Year Profit Surge
SHARE
THIS



Southern Cross Austereo (SCA) has delivered double-digit profit growth in the first half of the 2017 financial year despite a weak advertising market.

The group’s net profit after tax increased 11.8 per cent to $48.5 million in the six months to 31 December 2016, while it’s revenue grew a solid 9.2 per cent to $351.8 million – boosted by strong growth in regional TV revenue and improved sales practices, according to SCA.

The media group posted $92.6 million in earnings before taxes, interest, depreciation and amortisation during the first half of 2016-17 – up 1.3 per cent on the previous corresponding period.

SCA chief executive Grant Blackley (pictured above) said the results reflect the depth and strength of a media company that is “outperforming the market” in each of its categories.

“We have systematically resetting SCA for success by focusing on our financial performance, our operational effectiveness in our existing business and investing in new growth opportunities that leverage our expertise in audio and entertainment,” he said.

Blackley said the company’s rebranding efforts of some of its radio and TV stations over the last six months had aimed to make life easier for advertisers to buy space and boost SCA’s marketing and sales capabilities.

“Our seamless transition to our new affiliation with the Nine Network has provided the platform to substantially grow revenues in our television businesses and, excitingly, we have started rolling out 15 local 6pm news services in many of our Nine markets,” he noted.

“The successful acquisition of the Authentic Entertainment assets and importantly the integration of Vevo’s Australian exclusive sales representation has further improved our scale and digital content offering in the market.”

Please login with linkedin to comment

Advertising Standards Bureau Online Community Management Radio spikes asia festival

Latest News

Making A Name For Your Brand In A New Market: Tips For Launching A Campaign Globally
  • Opinion

Making A Name For Your Brand In A New Market: Tips For Launching A Campaign Globally

Jacqueline Gonzales [featured image] is the Head of Global Marketing at Squarespace. In this piece, she shares her best pieces of advice for launching a campaign globally. It’s estimated that we see between 6,000 to 10,000 ads every single day. In today’s digital landscape we’re constantly bombarded by so many different brand messages from every […]

Opinion

by B&T Magazine

B&T Magazine
Acast Announces New Podcast ‘The Elements’
  • Media

Acast Announces New Podcast ‘The Elements’

From the audio producer of The Teacher’s Pet comes The Elements, a new Acast Creator Network podcast hosted by Thredbo survivor Stuart Diver. The Elements is a  podcast that journeys into the heart of surviving a natural disaster and will be hosted and distributed by the creator-first podcast company Acast as part of the Acast Creator […]

Herd MSL Announces Foxtel Account Win
  • Advertising
  • Marketing

Herd MSL Announces Foxtel Account Win

Comms agency Herd MSL announces Foxtel win. Forgoes office party poppers on account of the new $1300 Dyson cordless vac.