5 best ASX media shares of financial year 2021
Stop the presses! These ASX media shares bested the rest in FY21.
Brooke is a Junior Financial Journalist at the Motley Fool Australia. Brooke s interests in finance and the share market evolved during her time at Charles Sturt University. There, she studied a Bachelor of Communication, majoring in journalism and sub-majoring in international relations. In her spare time, you ll find Brooke gallivanting around South East Queensland, no doubt with her dog in tow.
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The ASX is home to a number of big and small-name media shares, and we’ve found the 5 best performers of the 2021 financial year.
Broker eyes these ASX 200 shares following Federal Budget
Kerry Sun | May 14, 2021 4:51pm |
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The 2021-22 Federal Budget features $1.2 billion in government spending over six years to drive Australia’s digital economy.
Morgan Stanley believes these initiatives support its bullish view of the media sector. Here are some ASX 200 media shares the broker thinks could see upside.
ASX 200 media shares on broker’s radar
Nine Entertainment Co Holdings Ltd (ASX: NEC)
Morgan Stanley observes a relatively small benefit to commercial free-to-air broadcasters from reduced funding for public broadcasters ABC and SBS. The broker reiterated its
overweight rating for Nine shares with a target price of $3.50.
By Byron Kaye SYDNEY (Reuters) - Australian television and newspaper firm Seven West Media Ltd signed multi-year content deals with Facebook Inc and Google as tough new media laws enabled the industry to secure new revenue sources and adapt to the internet age. The top-rating free-to-air broadcaster and publisher of Perth city s main metro daily said on Monday it would supply content for the Alphabet Inc unit s News Showcase platform for five years and to a similar Facebook product for three. Terms of the deals were not disclosed. The arrangements mean the U.S. Big Tech platforms are now committed to paying two of Australia s three largest traditional news outlets for content, marking an about turn just two months after they had vowed to quit the country over laws forcing them to pay for the links that drive traffic to their websites.