ARN revenue down despite strong digital growth
ARN Media has published its full year 2023 results, reporting a decrease in underlying earnings (EBITA) of $20.2 million on the previous year, to $71.6 million, as the group continues with its proposed takeover of Southern Cross Austereo (SCA).
Overall revenue for the year was $334.3 million, compared to $344.9 million in 2022, while net profit before tax was $45.2 million, compared to $66.0 million in the period before.
The group reported that its ARN radio network came in first in Australia on an annualised basis, recording its best ratings and highest ever cumulative audience, reaching 6.2 million people a week.
