DASHBOARD: Media valuation comps for July 2024
- Publisher : Venture Insights
- Publish Date : July 31, 2024
This report provides a comprehensive analysis of key financial metrics for media stocks listed in Australia and New Zealand (ANZ). It includes detailed visualisations of monthly and annual share price movements, key earnings multiples, and forward earnings multiples compared to forward growth estimates. Additionally, it tracks share price trends over the past twelve months, offering valuable insights for market participants.
Key developments
Overall, the media sector in Australia and New Zealand have struggled to maintain their position over the last year with the deterioration of economic conditions. Economic growth is sluggish relative to previous years, and the impact on advertising continues to depress valuations for ad-dependent stocks.
ARN Media
ARN Media’s shares rose close to 10% in the last month, rebounding slightly after bottoming out in late June. During July, the company announced that its Hong Kong bases subsidiary, Cody Outdoor, has secured a sizable bus advertising contract with Kowloon Bus Company. The contract has a term running until the end of FY30 and provides expected annualised contract revenue of over A$35m.
Southern Cross Media
Southern Cross Media’s stock rose over 11% in the last month, nearly reversing last month’s fall. This occurred despite any price sensitive company announcements. In June the company announced it will not proceed with a proposed acquisition of select print and digital news assets from Australian Community Media.
Seven West Media
Seven West Media’s stock fell nearly 11% in the last month, despite any price sensitive announcements. The recently embattled company has lost over half its market capitalisation in the last year, which currently sits at around A$270m.
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.