Ad spend back to growth in March, early April data shows bookings surge
May 3, 2021 3:17
After two consecutive months of trending downwards, Australia’s media agency market recorded growth in ad spend for the month of March, with digital bookings leading the way.
Digital spend grew 15.6% year-on-year, with Standard Media Index (SMI) reporting the result came after a $166 million surge in late digital bookings. Programmatic media bookings rose 28%, while Social Media was up 20.1% and Search grew 16.5%.
Television remains a strong performer, as it has been so far this year, with a 7.2% jump in spend.
The continued investment in digital audio and podcasting by the likes of Australian Radio Network, Nova Entertainment and Southern Cross Austereo looks to be paying off, as spend in Digital Audio grew 18.6%. Radio bookings also rose slightly, up 0.4%.
HT&E now worth more on the ASX than SCA
The parent company of the Australian Radio Network (ARN) – known on the ASX as Here, There & Everywhere (HT&E) – now has a higher market capitalisation than rival Southern Cross Austereo (SCA).
Ahead of the market opening this morning, HT&E’s market capitalisation was $503.12 million, while SCA (SXL on the ASX) was down to $480.87 million.
The milestone has caught the attention of market observers due to the differences in size and scale between the two companies – SCA’s 99 radio stations and television interests far outstrip HT&E’s assets.
Both companies have taken a hit in recent years in terms of value, however the impact on SCA has been much more severe. At the end of 2017, SCA’s market capitalisation was $911.28 million, meaning in just over three years its value has declined by over 47%.
Grant Blackley reveals SCA’s plans for LiSTNR, including 35 new radio stations
Southern Cross Austero’s (SCA) ambitious growth plans for its LiSTNR platform have been revealed by its CEO Grant Blackley, including hopes it will be taken up by 15 million Australians aged over 18.
In addition to the lofty usage plans, Blackley revealed the platform will launch 35 new music-based radio stations, taking the total to 50, before the end of 2021.
Speaking to media last night, Blackley also highlighted its looming plans for talent-based announcements.
Australia Today may have been unexpected for what is effectively an entertainment radio group, but is the first of many moves in a similar vein – “he is the first, he certainly won’t be the last, is all I’ll say”.
The Australian Radio Network’s (ARN) iHeartRadio Australia has come together with TikTok’s local operation to launch a digital station.
TikTok Trending will showcase the music and artists taking off on the platform, as well as the tracks experiencing a revival due to viral trends or rediscovery from different generations.
iHeart’s local content director, Brett ‘Nozz’ Nossiter said no radio consultant on the planet would make a radio station out of the “beautiful, chaotic, crazy cacophony of music” that emerges from TikTok – but that’s what made the prospect so exciting.
“The transition will be a song that you know, then there’ll be an artist you’ve never heard of before, but when you hear it, you’ll think ‘I actually need to dig into and find out more about that’ – it could be the Channel 9 News theme for all I know.
Journalist (12 Month Maternity Leave) Australian Radio Network, Canberra
14 May 2021
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