Radio drives profit growth for APN

Staff Writer

APN has also released it's financials to the market today, with radio the standout performer.

The Australian Radio Network has reported a sharp increase in revenue, and profits for the first half of the year; revenue has improved to $81.2m (+8%), and EBITDA to $29.0m (+6%).

TRN in New Zealand has also improved, with revenue growing to $56.9m (+6%), and EBITDA $10.1m (+2%).


APN CEO Michael Miller said:  “Radio continues to grow as a medium in both countries. TRN held revenue share in a strong market and for the first time ever, ARN is the leading FM network in Australia. These results are ahead of our expectations, affirming that our decision to back these businesses, and radio as a segment, was the right one.

“iHeartRadio has been well-received, with over 650,000 app downloads and 480,000 registered users across Australia and New Zealand. Exclusive live events hosted in both countries have helped to grow user registrations and expand the platform to new audiences. There are more of these to come in the second half.

APN have said "that programming has been a major focus for TRN in the first half of the year, with some significant changes; "The Hits (previously Classic Hits) and ZM, targeting audience growth in the key 18-39 and 25-54 demographics. The ZM brand has been extended to television, with a daily show on Sky TV’s Juice channel. TRN expects to see ratings growth at both stations from 2015."

Whilst in Australia the company was glowing in it's praise of ARN saying:

"ARN’s investment in talent, content and marketing has driven its four years of continual growth and recent ratings success. The business has consolidated its position in all markets and taken share from its competitors. While the launch of station KIIS 1065 and the rebrand of the Classic Hits Pure Gold network have been standout successes, all stations across ARN’s markets have contributed to overall ratings growth. As a result, ARN currently has the #1 FM and #2 FM stations in Sydney, the equal #1 FM station in Melbourne and the #1 stations overall in Brisbane and Adelaide."



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