This week on
Radio Today Tonight, Jake and Viv cast their eyes over the latest financial results from Australian Radio Network, Nine Radio and Southern Cross Austereo, following updates to the ASX – how much each company received in Government handouts, and how much this propped up their bottom lines.
Plus we discuss how ARN CEO Ciaran Davis and SCA CEO Grant Blackley are framing the competition between digital platforms iHeartRadio Australia and LiSTNR.
Radio Today Tonight is back for 2021, coming to you each Thursday and mixing the biggest news of the week, along with a discussion of all the personalities, politics and pressures involved in the audio industry.
Hugh Marks reflects on his final results as Nine CEO: ‘It’s time for a new energy’
After delivering his final results as Nine CEO yesterday, Hugh Marks tells Mumbrella s Brittney Rigby what he s proudest of, why Nine Radio made a mistake in not chasing down more direct bookings - “radio audiences are great, they’ve just got to sell it” - and how everything I set out to do is done .
February 25, 2021 8:11
The last time Hugh Marks spoke to investors was at an investor strategy event on 19 November, five days after his shock resignation was prompted by a relationship with a former executive.
Nine s net profit soars 79% as the business promises to return $2m of Jobkeeper mumbrella.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mumbrella.com.au Daily Mail and Mail on Sunday newspapers.
Nine has announced its financial results for the six months to December 31, 2020, with the entire media conglomerate posting profits of $182 million, up 79% from the prior corresponding period, on revenue of $1.2 billion (down 2%). The group EBITDA (earnings before interest, tax, depreciation and amortisation was $355 million, up 42%.
Its radio operation stood out from its other broadcast and digital operations, however, with revenue for the six-month period down 24% to $44.0 million from $57.6 million for the same period in 2019. EBITDA was down 62% from $7.6 million to $2.9 million.
Nine’s chief financial officer, Maria Phillips, said the results for its radio division were disappointing.
“The results from Nine Radio were disappointing, however they disguise some promising trends,” she told investors in a presentation this morning. “Nine has done a great job of refreshing talent with our core talk network growing cumulative audience in thousands in every market, and by a
Stan drives profit at Nine as it commits to repaying JobKeeper afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.