Southern Cross Austereo CEO Grant Blackley has provided a revenue update for Q1 of the new financial year.
Speaking at the company’s AGM yesterday, Blackley said:
While July and August were difficult, we saw improved conditions in September which have continued into the second quarter.
In a metropolitan radio market that has been subdued but showing signs of improvement, SCA’s revenue for metropolitan radio for the first quarter is back 6% compared to the first quarter of 2016.
Revenue for SCA’s regional radio business for the first quarter continued to grow, improving by 2%.
SCA has grown its regional television revenue by 3.5%.
Total revenue for the first quarter was back 1.7% on the prior year, accounting for the absence of revenue from the disposed television asset in Northern NSW. On a reported basis revenues were down 7% across the period.