Dashboard containing:

• Monthly and annual share price movements for main listed media stocks.
• Key earnings multiples.
• Forward earnings multiples vs forward growth estimates.
• Share price movements tracked over last twelve months.

Commentary

Key developments

Overall, the media sector in Australia and New Zealand have maintained their position over the last year well despite the deterioration of economic conditions. Economic growth is sluggish relative to previous years, but the impact on advertising is now mostly factored in.

oOh! Media

oOh! Media’s stock lifted nearly 13% in the last month with the company releasing positive CY23 results, where the company’s revenue grew 7% compared to CY22 to $633.9m, and NPAT grew 10% compared to CY22 to $34.6m. This result was driven by strong increases in revenue in the groups Road (billboard) and Fly divisions.

Seven West Media

Seven West Media’s stock fell over 13% in the last month with the company releasing challenging 1H24 results, where the company’s revenue fell 5% compared to 1H23 to $775m, and EBITDA declined 40% compared to 1H23 to $124. The groups CEO, James Warburton blamed ‘“weakness in advertising markets” for the poor performance.

Nine

Nine’s stock declined nearly 10% in the last month with the company releasing poor 1H24 results, where the company’s revenue fell 2% compared to 1H23 to $1.37b, and EBITDA shrunk 15% compared to 1H23 to $316m. The performance was attributed to “weaker economic and advertising market conditions”.

About Venture Insights

Venture Insights is an independent company providing research services to companies across the media, telco and tech sectors in Australia, New Zealand, and Europe.