SCA’s digital audio revenues for July to October grew 40% with the recovery in the audio media market.
In a trading update at the company’s AGM, SCA says broadcast audio revenues in the first four months of the financial year improved by 7% compared to the same period last year.
CEO Grant Blackley: “Audio advertising markets have recovered this calendar year after Sydney and Melbourne emerged from the most recent lockdowns.
“That recovery has been led by national advertisers with local advertisers strengthening in recent times.
“Television markets recovered more quickly than other markets during 2021 and have generally contracted this year. SCA’s television revenues for the first four months of this fiscal year are down by 6% - respecting that television is cycling over stronger comps.
“Digital audio markets are growing strongly with the number of advertisers and volume per campaign rising.
“We expect these trends to continue as advertisers acknowledge the scale, diversity of content and incremental reach provided by over one million signed-in users on LiSTNR.
However, SCA is taking a “highly disciplined approach” to limit cost growth despite inflationary pressures.
The company expects non-revenue related costs for the full financial year to grow by between 2% and 4%.
In August, SCA reported full year underlying net profit after tax up 38.4% to $27.4 millon. Audio revenue was 9.2% higher at $392.9 million. Broadcast radio revenue grew by 9.4% to $182.7 million in metro markets and by 6.4% to $168.5 million in regional markets.
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