As reporting season continues, Southern Cross Media Group has reported a 16% drop in revenue for the half year ended December 31st.
Net profit from ordinary activities after tax (excluding significant items) was up 22%.
The company's dividend reinvestment plan has been suspended in response to the tough conditions resulting from the covid pandemic. Financial figures in the stock exchange filing show that SCA received about $40 million in government grants during the second half of last year.
On Monday SCA launches two big breakfast shows that could change its fortunes – hopefully for the better.
After seven years of bad luck in trying about as many breakfast shows to replace the listeners that “you know who took to you know where,” 2Day-FM is ready to fire what looks to be its best shot yet with a solid trio of established radio talent in Dave Hughes, (centre) Ed Kavalee and Erin Molan.
Sam Cavanagh , SCA's Head of Entertainment and News Content for Digital Audio, talks to radioinfo’s Steve Ahern about podcasting, SCA's on-demand audio strategy and monetising audio.
SCA Perth has appointed Marc Eddy as Acting General Manager, replacing Erica McGee.
Eddy, who has been with SCA since 2008 as Audio Operations Manager for WA and SA, now takes on a dual role.
Outgoing Acting General Manager Erica McGeeis "thrilled to hand the reins to someone as capable as Marc. We’ve worked together successfully over many years and my respect for him is unwavering – I have no doubt he will step into the role successfully.”
Australia’s leading regional media organisations have united to fight for urgent reforms to "outdated and obsolete laws that put the future of local media at risk and threaten to leave 9.2 million regional Australians without local news services."
After a tough few months of stand-downs, redundancies and restructuring, where many radio industry staff in all sectors have lost their jobs, some stations are planning to return salaries to normal as advertising slowly increases and sentiment begins to turn around.
Today the nation's unemployment figures improved, showing some signs of green shoots as Australia begins to regain control on the pandemic.
It’s a massive irony that while radio listener numbers have increased strongly during the pandemic, revenue has fallen off a cliff.
In the June quarter, just gone, revenue for the radio sector was down nationally by a staggering 46.62%, or $99.644 million compared to the same period last year.