DASHBOARD: Media valuation comps for March 2025
- Publisher : Venture Insights
- Publish Date : April 7, 2025
This Media Valuation Comps 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.
Figure 1: ANZ media share price changes March 2025
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.
Seven West Media
Seven West Media’s stock dropped over 11% during March, with the company’s last price sensitive announcement being its 1H25 results in mid-February. The results showed a 6% decline in revenue compared to the prior corresponding half, and a sharp reduction in EBITDA and EBIT of 26% and 33% respectively on the prior corresponding half. The company pointed to an ‘ongoing soft market’ to explain results and how it is undertaking a ‘cost out program’ during FY25. The company’s stock has declined by around 18% since the release.
GTN
GTN’s stock jumped around 16% in March. In late February the company released positive 1H25 results which included modest YoY growth in revenue of 2% to $96.7m, while NPAT for the half was $4.9m, up 11% on 1H24. The company also repaid $7m in bank debt during 1H25, reducing its debt to $1m. The release highlighted that non-Australian revenues now accounted for 55% of total group revenue, while revenue growth in the business came from its UK operations.
NZME
NZME’s stock climbed 8.5% in March. In late February the company released a positive full year results to 31 December 2024, which included modest YoY growth in revenue while EBITDA declined by 3.6%. The release pointed to a challenging media industry in New Zealand during the period, however some operating highlights were mentioned namely its subsidiary OneRoof, with its digital revenue growing 51% during the period, and contributing positive EBITDA of NZ$2.7m compared to an EBITDA loss in 2023. Additionally, NZME’s podcast revenue grew 67% YoY, while digital radio streaming revenue increased by 19%.
Figure 2: ANZ media valuation multiples March 2025
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.