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Southern Cross Media Group reported year to June revenue down 4.5% of $1.87 billion in a “tough” market.
“Subdued” conditions are expected to continue but the company says $30 million of annualised SCA-Seven West merger synergies have been delivered, a year ahead of schedule.
"The advertising market remains short and volatile with consumer and advertiser sentiment variable," the company told the ASX in its full year results announcement.
Television revenue tracking flat year-on-year, audio revenue is up in the low single digits and publishing revenue is stable year-on-year.
Southern Cross announced an expanded program targeting $145 million to $150 million of annualised savings which started in the June quarter.
Group digital revenue was $320 million, up 11%, and in audio, digital growth outpaced the decline in broadcast revenue for the first time.
“These are the first full-year results of our merged business,” said CEO Rohan Lund.
“We now reach more than 20 million Australians a month, and each of our three businesses — Television, Audio and Publishing — strengthened its market position during FY26.
“Trading conditions were difficult, particularly in television through Q4, and revenue came in below where we expected.
“Share gains and cost discipline partially offset that, and EBITDA finished above our revised guidance.
“Digital kept growing while broadcast markets contracted. We delivered our merger synergies a year earlier than expected, expanded our cost program, and refinanced our debt.
“While we expect conditions to stay subdued, our focus doesn’t change: bring Australians together through content they love and trust, turn that connection into audiences that work for advertisers, and run the business with discipline and unity.”
In TV, revenue of $1.251 billion was 6.6% lower against an advertising market decline of 9.9%, partly offset by stronger revenue share 41.6%, up 1.2 points.
Digital revenue grew 10.6%. Other revenue of $86.5 million was 6.8% lower reflecting one renegotiated spectrum fee contract with other components held flat.
Costs fell 3.1%, reflecting benefits of cost program and commercial broadcasting tax relief, partly offset by the first-year AFL rights step-up and acquired content commitments.
In audio, Metro 25–54 audience share grew 1.6 ppts to 36.8%, with gains in all markets as audiences responded to AFL broadcasts, refreshed music formats and talent lineups.
Audio revenue of $429.9 million was up 1.4%. Digital revenue grew $6.5 million (14.3%), more than offsetting a 0.9% decline in metro and regional radio broadcast, where share gains of 1.7 ppts could not fully offset a 6.8% contraction in the metro radio market.
This is the first year digital growth has outpaced the broadcast decline.
In publishing, revenue of $187.0 million was 3.1% lower, with advertising down 5.4% and circulation and subscription revenue held flat. Digital revenue grew 5.7%. Costs fell 3.2%.
The year to June 2026 numbers:
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