Prime Media announces surprise revenue boost but says it can’t be sustained

November 1, 2016 10:46

Prime Media has made a surprise announcement of a huge revenue boost driven by the Olympic Games and changes to the regional broadcasting landscape.

Prime CEO Ian Audsley

On a day when businesses traditionally seek to sneak through bad news under the cover of Melbourne Cup celebrations, Prime sent out a trading update announcing total advertising revenue for the first quarter of the 2016/2017 financial year had jumped 16% despite the regional market being flat.

The rise came across the three aggregated markets served by Prime in NSW and Victoria, with the network’s national agency revenue share peaking at 49.5% according to Standard Media Index data.

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Simon Canning

Simon Canning was Mumbrella's marketing and advertising editor from 2015-2017. In a career spanning journalism and communications over more than 30 years Simon has become one of Australia’s most respected analysts and commentators on the advertising, marketing and media industries. A regular commentator on radio and TV, Simon has also worked in media in the US and UK .

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