Digital & broadcast radio revenue up: Market update from SCA

Southern Cross Media Group Limited (SCA) has provided a market update for Q1 FY25, ending September 30, 2024.

Digital and broadcast radio revenue were both up (48.2% for digital and just over 1% for radio) and both metro radio and digital audio have now delivered three consecutive quarters of share growth.

 SCA CEO John Kelly says “SCA remains the home of the audience that matters in the core buying demographic for men and women aged 25-54. Over 70%1 of agency briefs target these segments. SCA had a market-leading 35.3% share of this segment in the most recent metro radio survey published on 1 October 2024. Our in-depth understanding of this segment has seen our Triple M and Hit Networks record the largest metro radio audiences in this segment for the last three years (26 consecutive surveys).”

“Whilst advertising markets remain short, SCA is maintaining positive operating momentum into the second quarter of FY25.”

There have been significant job cuts across both the Hit and Triple M networks.

Total revenue this quarter, of $122.3 million, was up 1.5% compared to the same quarter last year.

SCA’s sale of its regional television assets is progressing. SCA has said proceeds of that sale will go towards reducing net debt.