Southern Cross Austereo (SCA) has released the results of a full year of trading. SCA has listed its highlights for the year ended June 30,2024 included: • FY24 revenue was $499.4 million , down 1% on FY23, while underlying EBITDA of $66.
2 million was down by 14% on FY23. • LiSTNR achieved underlying EBITDA profitability in the fourth quarter of FY24 as previously forecast. Digital revenue reached $35.
0 million, up 42% on FY23. Digital revenue in H2 FY24 was up 57% on H2 FY23. Since FY19, SCA has grown its digital revenue at a compound annual growth rate of 34%.
• SCA has re-commenced a strategic review of its non-core regional television assets and is in active negotiations with several parties with an interest in acquiring those assets. SCA CEO, John Kelly , commented: “SCA maintained dominant audience shares in our core metro and regional radio and digital audio markets during FY24. Despite challenging advertising market conditions, our improved financial performance in the second half has provided strong momentum into the new financial year.
Our national leadership in the core buying demographics for men and women aged 25-54 provides our sales teams with a strong platform for continued growth into FY25. “In the fast-growing digital audio sector, LiSTNR has reached over two million signed-in and addressable users, with around one million of these interacting with LiSTNR monthly. This is testament not only to the range of engaging content on LiSTNR but also to the.