Josh Simons.
ASX-listed publisher and music company Vinyl Group posted record revenue of $4.9 million, up 37%, for the September quarter.
Vinyl said it is on track to deliver an EBITDA positive December quarter, underpinned by strong seasonal sales and a structurally lower fixed cost base.
The company is targeting full year revenue of about $25 million, reflecting organic revenue growth of 25%.
Once the company demonstrates the profitability and sustainability of the current business model, the plan is to embark on the next phase of growth, with efficient and scalable operations and expansion into global markets.
“In the past quarter, we continued to focus on disciplined cost control with the implementation of initiatives to ensure cost efficient operations and improved productivity,” said CEO Josh Simons.
“I’m pleased to report a significant reduction in operating cash outflow, even while absorbing $579K in one-off restructuring costs during the first quarter.
“Our team is passionate, driven and aligned on the path forward as we move into our seasonally busiest quarter.
“We have a compelling value proposition for advertisers seeking to reach high-growth youth culture and music audiences, and we continue to lead media-tech disruption by developing systems and processes that enable the delivery of premium content at scale.”
Vinyl earlier this year created a media division, Vinyl Media, to house both its owned and licensed titles.
The company has been on the acquisition trail since it closed the purchase of The Brag Media, which includes licensed titles Rolling Stone Australia and Variety Australia, in early 2024.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.