ARN’s revenue up by 7% in Q3, says HT&E
ARN’s parent company, Here, There, and Everywhere (HT&E), has today revealed total radio revenues for Q3 finished at 7%, the same time as last year.
In a trading update, the company also said H2 radio revenues are pacing at “low to mid-single-digit growth on strong Q4 2021 comparatives”, while costs remain in line with previous guidance.
According to the report, commercial radio’s audience has grown by over 1.2 million listeners (nearly 12%) in the last five years. Live Australian commercial radio accounts for nearly three-quarters of all listening on audio platforms that have advertising.
Moreover, radio’s role in advertising is well understood and its share of revenue remains consistent with new revenue growth opportunities in digital audio emerging, while regional acquisition has diversified the business and integration is delivering revenue synergies.
Australian podcasting awareness has grown to 90%, up from 72% five years ago. Monthly podcast listening increased by one million people over the past 12 months (from 37% to 40%).
The company also said ARN’s multi-platform youth media brand, connects with 3 million plus each week.
In January, HT&E completed its acquisition of Grant Broadcasters. The acquisition means the amalgamation of Australian Radio Network (ARN) and one of Australia’s oldest regional radio companies, Grant Broadcasters, under one company.
The sale is worth $307.5 million on a cash and debt-free basis, with 22.5% in HT&E shares, equating to 11% holding in HT&E. Grant’s current CEO Alison Cameron has joined the HT&E Board and current COO Rick Lenarcic has joined ARN’s executive leadership team.
The transaction will see HT&E acquire 46 of Grant Broadcasters’ radio and digital operations across the country in a deal that was announced on 12 November last year.
Have your say