Southern Cross Media (SCA) this week reported a lift in audio revenue for Q1, FY25. The reported revenue of $100.4m was up 4.8% on the same period YOY.
The announcement came just days before the launch of a new metro radio show in one market. The broadcaster has 10 metro breakfast shows which drive company revenues. A new one is therefore a big deal, even in a smaller market. As Mediaweek has reported before, there are still a number of new shows that could be announced before radio year 2025 starts.
There could be new breakfast teams coming for Triple M in Sydney and Melbourne, plus a new 2Day FM brekky show.
See also: More changes ahead for Triple M with changes expected at Sydney and Melbourne breakfast.
Moving the ad dollars needle
The big driver of the revenue increase was a lift of 48% in digital dollars while revenue for broadcast radio was flat.
Total revenues at SCA for the quarter weren’t quite so bullish. The needle moved just 1.5% into positive territory YOY.
The company noted that it is well-positioned for the future:
In the most recent metro radio survey published on 1 October 2024, SCA maintained its leading share of the core buying demographics for men and women aged 25-54 for the 26th survey in a row. This provides a strong platform for continued operating performance and momentum in FY25.
The key to the digital performance has been the success of LiSTNR with 2m+ signed-up users. SCA reported digital growth is coming from the LiSTNR AdTech Hub driving inquiry from advertisers willing to pay a premium to connect their messages to targeted and addressable audiences.
While SCA’s LiSTNR and ARN’s iHeart battle monthly for bragging rights about who is bigger, SCA this week commented:
LiSTNR remains the number one podcast sales network in the September Australian Podcast ranker, with over 7m monthly listeners.
SCA’s John Kelly
For Sale sign still on regional TV assets
SCA continues to talk positively about the sale of its regional television assets. Speaking as if it’s just a signature away from agreement on a deal, it noted the company would apply the proceeds of the sale of its television assets towards reducing net debt.
When could this happen? “SCA will update shareholders on the progress of these negotiations in accordance with its continuous disclosure obligations,” was the answer.
In a note accompanying the SCA Q1 update, SCA CEO John Kelly said: “The positive operating momentum from the second half of FY24 has continued into the first quarter of FY25, and our strategy of building and monetising audiences that matter has delivered our third consecutive quarter of growth in our share of metro radio revenue, along with ongoing growth in digital audio revenue.
“Our key differentiator in digital audio is our LiSTNR AdTech Hub, which enhances our advertisers’ ability to connect with relevant and targeted audiences on LiSTNR and other digital audio distribution platforms. By driving increasing inquiry and premium commercial returns for our advertisers, the LiSTNR AdTech Hub is a key reason for our 48.2% growth in digital audio revenues in the September quarter.
“SCA remains the home of the audience that matters in the core buying demographic for men and women aged 25-54. Over 70% of agency briefs target these segments. SCA had a market-leading 35.3% share of this segment in the most recent metro radio survey published on 1 October 2024.
“Our in-depth understanding of this segment has seen our Triple M and Hit Networks record the largest metro radio audiences in this segment for the last three years (26 consecutive surveys).
“Whilst advertising markets remain short, SCA is maintaining positive operating momentum into the second quarter of FY25.”
SAFM’s Bernie and Emma G
New breakfast for oldest station
SCA has confirmed that Adelaide is set to wake up to a new SAFM breakfast show called Bernie & Emma G from Monday 11 November.
The FM station is where the network launched from nearly 45 years ago.
The breakfast moves come after the axing of the Bec and Soda breakfast show last week.
Mark Soderstrom quit breakfast radio as he faces what he called the “biggest challenge of his life”.
Soda’s SAFM breakfast co-host, Rebecca Morse, later shared news of her departure on an Instagram post:
I was told on Tuesday that my contract would not be renewed and was offered the opportunity to see out the week. Unfortunately, the way the events unfolded meant I felt emotionally unable to return to the studio so I want to say sorry to the SAFM family that I didn’t say goodbye.
I am grateful for the past six years, the lifelong friends I’ve made and the things they’ve taught me about radio. Thank you to the community we built and the listeners who told me my Mum Fails and Hot Messes made them feel like they were not alone. I never took for granted the platform we have on breakfast radio to try to make a difference.
Thank you to my family and friends for tolerating my sleep-deprived moods, you can decide whether seeing more of me now is a blessing or a curse.
Taking over breakfast at SAFM is former Triple M drive co-host Bernie Vince. He will be teamed former Triple M Adelaide colleague Emma ‘Emma G’ Georgiadis.
In a release, SCA noted the former workmates (Georgiadis previously anchored The Rush Hour alongside Vince, a program that was recently axed) are great mates in real life and, now back together, they are excited as they prepare to launch their new show.
Bernie Vince is a former Adelaide Crows and Melbourne Demons Best and Fairest recipient who retired from professional footy in 2018. In 2019 he joined Triple M as part of the footy commentary team and was regularly heard on Dead Set Legends. He has also been a regular on Fox Footy’s The Bounce.
Most recently from the Hit Network’s national late-night show The Pulse, Georgiadis has worked in the entertainment and media industry for almost 20 years. A born and bred Adelaidean, with a background in teaching, she risked it all to follow her dream as a radio announcer.
Bernie Vince said: “SAFM breakfast alongside my mate Emma G, how exciting! She is a star, and I can’t wait to get started with this amazing opportunity for the both of us to build something new, even though we’ve worked together on-air for several years. We are both passionate about S.A. and having fun on the radio and I cannot wait ‘til the 11th to give you the pre-season listen to 2025!”
Emma Georgiadis added: “As a passionate Adelaidean, I’m super excited to be back on the airwaves in my hometown, and on the station I listened to and loved growing up. Bern has a magnetic energy and is a legend to work with. We can’t wait to wake up with Adelaide every morning!”
SCA’s Dave Cameron
The executive making the decision about breakfast shows around the networks, SCA chief content officer Dave Cameron said: “Absolutely nothing beats a new breakfast show that is built on genuine friendship and fun. We cannot wait for Bernie and Emma G’s amazing chemistry, which already exists in their strong relationship, to come to life on air.
“SAFM listeners are in for a fresh new level of energy and cheekiness with these two, who have a long history of working together but now get to do it with their own, exciting new show. Adelaide already loves Bernie, and they’re about to fall in love with Emma G’s infectious vibe. And best of all Adelaide gets an early sneak peek into 2025 with Bernie and Emma G starting in two weeks.
“We would like also to thank Bec and Soda for their passion and contribution during their time on SAFM Breakfast, and wish them all the best for the future,” Cameron concluded.
The SAFM Breakfast show with Bernie & Emma G can be heard from 6am to 9am, Monday to Friday. The new show begins on Monday 11 November.