dmg Radio talk growth and what’s ahead
The Australian have today published a piece that reveals the recent financial performance of dmg Radio.
As they are not a publically listed company they are not obliged to release any financial information, but, as it's all good news, CEO Cathy O'Connor and Group PD Paul Jackson are out to talk about their growth and the stability of their brands as they move into 2014.
They divulged that their operating earnings are up 150% over 4 years :-
– EBITDA for 12 months ending September 2009 was $16m
– EBITDA for 12 months ending September 2013 was $40m
O'Connor says, "The thing that gives me great optimism is that we've really delivered that off the No 2 position.
"Now that Nova is No 1 and Smooth is continuing to accelerate, you can see that there's still a lot of organic growth available to the company. I think that demonstrates we're converting the plan into profit, and there's still more upside to come."
With all the change occurring in multiple markets, O'Connor predicts "easy double-digit growth" for 2014.
Meanwhile dmg's Group PD Paul Jackson spoke about smoothfm and the Sydney churn.
"We very much run our own race and will continue to do so. The movement in the marketplace is going to happen between those two products – KIIS and 2Day – because listeners will go back and forwards between them. They've got all the churn.
"We're probably not going to be losing any listeners from smoothfm or Nova to those stations. We're going to be swerving the storm and have a chance of picking up a lot of people along the way."
Were dmg ever interested in hiring Kyle and Jackie O ? O'Connor says:
"No, it was never on the table. We felt confident Fitzy & Wippa had the upside there. There are only so many places for big shows. I think Kyle is a brilliant performer. I just didn't see the need to make that big a change. But I can absolutely see why ARN would do it."