DASHBOARD: Media valuation comps for October 2024
- Publisher : Venture Insights
- Publish Date : November 4, 2024
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 October 2024
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 continued its rebound over the last month, increasing by around 9% despite any price sensitive announcements. The stock is up roughly 35% since it found its bottom at 55 cents per share early in September, its lowest point in the last year. The stock had been punished by poor performance, most recently with its 2024 half yearly results.
oOh!media
oOh!media’s stock declined over 9% in the last month despite any price sensitive announcements. The company released its 1H24 results in late August which featured declining revenue (3% down YoY to $288m) and declining NPAT (11% down YoY to $18m). The poor performance was attributed to the “challenged Australian media landscape”.
Sky Network
Sky Network’s stock has risen 2.5% during the last month, with the company announcing in October an expansion of its existing partnership with Warner Bros Discovery. This latest development confirmed Sky as the exclusive home of the new ‘Max’ branded hub on Sky in New Zealand. This will bring an extensive content collection to Sky and Neon customers from 30 October 2024.
Figure 2: ANZ media valuation multiples October 2024
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.