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.

Seven West Media

Seven West Media’s rose close to 16% in April, rebounding after the stock lost 30% of its value between January and March through the release of poor H124 financial results in conjunction with a number of controversies Network Seven has been recently involved in.

GTN

GTN’s stock fell around 11% in the last month despite the company releasing FY24 guidance which entailed Adjusted EBITDA guidance of between $21-23m, up from $19m in FY23, and a revenue guidance of between $185-187m, up from $177m in FY23.

Nine

Nine’s stock declined 10.5% in the last month despite any price sensitive announcements. The company is one of many media stocks that have seen a decline over the last month, with the ASX All Ordinaries down close to 4% over the course of April.

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