ARN’s parent company, Here, There, and Everywhere (HT&E), revealed total radio revenues for Q3 are pacing at 6% to 8% as the same time last year following a soft July during its ASX Small and Mid-Cap conference yesterday.
Moreover, the company said growth continues to come from both metro and regional markets and, however, is weighted more toward metro markets, while briefing activity remains solid into Q4.
Last month, HT&E released its HY22 results, revealing that radio listening is at an ‘all-time high’, giving way to strong shareholder returns and favourable EBITDA.
The Group reported increased group radio revenues of 7% and 11% growth in EBITDA.
Revenue was reported to be up $63.5 million (58%), with a bolstered strong regional performance up 11%.
Revenues from ordinary activities of $172.0 million increased 58% and NPAT before exceptional items of $24.6 million rose 69% on the prior period, driven by the acquisition of 46 regional radio stations from Grant Broadcasters (ARN Regional) completed in January 2022, with the integration tracking ahead of schedule and deliverance of margin expansion.
ARN Group reported radio revenues up 7%, with digital up 6%.