HT&E’s revenue increases 53% in 2022

Here There and Everywhere (HT&E), the parent company to ARN, released its annual report this morning, showing a 53% increase in revenue from 2021. 

The total revenue was just shy of $350m ($344.9) with a net profit after tax of negative $176.3m compared with 2021’s 14.9m.

Metropolitan broadcast advertising revenues grew 3% to $192.5 million and regional advertising revenues grew 7% on a pro forma basis to $107.7 million, assisted by federal government election-related spending and economic conditions.

A dividend of 5.2 cents per share was declared.

HT&E’s earnings were considerably impacted by a full 12 months of revenue from the acquisition of Grant Broadcasters and its 46 regional stations which HT&E Chairman, Hamish McLennan said, “has proven to be an outstanding investment and demonstrates the Company’s ability to identify the right opportunities to drive shareholder value.” 

HT&E CEO & Managing Director, Ciaran Davis, said, “Our ARN Regional strategy to fiercely protect the localised nature of the individual regional station brands and the connections to the communities they serve is incredibly powerful and has paid off with improved ratings and growing revenues.”

“While we are facing an uncertain macroeconomic environment, HT&E is incredibly well placed to withstand any potential short-term impacts to advertising revenues.”