HT&E post half year results, with ARN revenue growth up 7%

Former Assistant Editor
Image: WSFM achieved its best result in 20 years

Australian Radio Network‘s parent company HT&E has posted its half-year financial results, reporting strong growth in its radio business.

ARN now makes up a much higher percentage of HT&E’s continued operations since it offloaded Adshel to oOh!media for $570 million.

In the report, HT&E pointed to a growth in ARN’s revenue by 7.4% year on year to $118 million. This meant ARN’s growth outperformed the market, which was up 5.9%.

Cost growth did exceed revenue growth, however, with reported costs for ARN were up 11% to $80.3 million.

The half-year report highlighted a focus on growing ratings and gaining revenue share by continuing to recruit Australia’s best radio talent, as well as building the future of audio entertainment in the country by expanding its digital offering with iHeartRadio a key pillar.

HT&E pointed to steady rating improvement as of the last radio ratings Survey #4 for 2018 as an important KPI after the introduction of several new shows this year.

KIIS 101.1 welcomed Jase and PJ in January, with Perth’s 96FM also gaining a new Breakfast show in Paul and Lise.

Meanwhile, KIIS National Drive saw a new duo kick off in Will and Woody, while Christian O’Connell started on Gold104.3 in June.

“We have maintained our position as Australia’s #1 Radio Network and had some significant ratings wins including WSFM in Sydney achieving its best result in 20 years,” said HT&E CEO & managing director Ciaran Davis.

“The changes we have implemented across the network have delivered market outperformance for both revenue and agency growth.

The report also pointed to WSFM achieving its best results in 20 years, with strong ratings too for Jonesy and Amanda, the continued dominance of the Sydney market by Kyle and Jackie O (#1FM for 22 surveys), a #1 result for Gold in Melbourne and Mix 102.3 Adelaide holding the top spot for a 17th consecutive survey.

“The investment in content and talent in radio is paying off. ARN’s first half revenue growth was strong, outperforming the overall market,” added HT&E interim chairman Robert Kaye.

ARN’s DAB+ digital stations also experienced strong results, with iHeartRadio The 80s the #1 station in Australia and The Edge taking #1 in Sydney.

iHeartRadio also houses Australia’s most comprehensive library of podcasts, and iHeartRadio app downloads now exceed 1.7 million with more than 1.1 million registered users.

The full report is available here.

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