With the countdown on for auctions of new FM licences in Sydney and Melbourne, Austereo has begun a major rebranding campaign across its network.
Chief Executive, Michael Anderson, has welcomed the second survey results as an indication the restructuring is on track.
“Austereo will be a year ahead of most of the new stations, created by the latest round of licence auctions.”
However, Credit Suisse First Boston says that for the most part, the second ratings period shows Austereo’s Sydney stations are tracking below their 2003 year averages in key demographic segments and time slots. But, it says the opposite is the case with Austereo’s Melbourne stations.
“One theory is that the changes, implemented earlier in Melbourne, will take longer to gain traction in the Sydney market.”
When Austereo released its interim results in February, Chairman, Peter Harvie, expected revenues to remain flat over the full year, due to increased competition, as the new licences were issued.