DASHBOARD: Media sector financials

Dashboard containing:

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

Commentary

Key developments

Overall, media stocks on Australia and New Zealand are down over the last year, as jitters about the impact of rising interest rates have affected investors.

Despite this, in the last month there has been a number of Media stocks that have had an uptick over the last month as the macroeconomic circumstances become more favorable. Overall, economic growth is expected to be sluggish relative to 2022, but the impact on advertising may be muted if unemployment stays low.

oOh! Media

oOh! continued to take advantage of audience growth across its key Out of Home formats to deliver an 18% increase in revenue to $592.6 million for the year ended 31 Dec 2022. The company delivered an Adjusted Net Profit After Tax of $56.2 million for the period, which is up 343% from $12.7m the prior year.

Sky Network

Sky shares had a favorable month of performance thanks to a positive 1H23 earnings, which entailed growth in customer relations, revenue, cost savings, and secured rights to World Rugby and Formula 1.

Southern Cross Media

Southern Cross Media’s share price experienced a significant drop in February, when the company announced its half yearly financial results ended 31 Dec 2022. The results reported the company experienced a 7.3% decrease in EBITDA and a 6.1% decrease in Net Profit After Tax.

News Corp

News Corp also had its share price slide after unfavorable earnings release for the quarter, with revenue down 7% and Net Income down 64% from the prior corresponding quarter.