NOVA Entertainment: “Our numbers speak to the health of the sector”
NOVA Entertainment CEO Cathy O’Connor has given some insight into the privately owned network.
“Our numbers speak to the health of the sector,” Cathy told The Australian. “We’re not seeing disruption to broadcast revenue by streaming services at this point. Radio is in a very strong place and I think strategically it is demonstrating its place in the new landscape.”
The Australian reports that the Network is delivering some healthy results. Both the NOVA and Smooth brands will deliver earnings before interest, taxes, depreciation, and amortisation in the vicinity of $52 million. Nova posted EBITDA of $40.6m last year.
The Australian reports the group’s earnings have surged 225 per cent in five years, from $16m. The calendar year 2014 is looking strong as well with the article revealing operating earnings have increased 28% with the company “budgeting for at least 20 per cent next year”.
Cathy O’Connor also said to The Australian that Nova Entertainment is not an acquisition target but on the hunt for digital acquisitions itself.
“There are a lot of digital content businesses out there that need scale,” she said. “We bring that and I would like to think in the next 12 months the right opportunities will come.”, Cathy told the paper.
Out of all the groups NOVA Entertainment has been consistent on a number of fronts, including their talent line-ups across the country. While she wouldn’t make any New Year audience predictions for The Australian, she did comment:
“What I will say is that Nova and ARN are both strong businesses with good people on and off air.
“The competition has lifted since the height of the Hamish and Andy era … the competition is good for all of us.”
You can read the full story in The Australian