Southern Cross Austereo (SCA) have released their FY23 results with overall radio revenue steady, an increased metro radio share and significant growth in LiSTNR revenue.

SCA Radio Results Summary:

• Broadcast radio revenue of $372.8M was steady (down 1.2%). Metro radio advertising was fractionally up, regional down 4.6%, largely due to a decline in Government spending.
• LiSTNR revenue increased 36.2% to over $21 million. With more than 8 million monthly listeners, LiSTNR’s EBITDA (earnings before interest, taxes, depreciation and amortisation) loss for the year was reduced by over 30%.
• Overall Group revenues were down. Audio was marginally up (0.3) but offset by overall television decline of 14.5%
• Active cost control saw a 1.3% reduction in non-revenue related expenses.
• A fully franked dividend of 2.2 cents per share will take the full year dividends to 6.80 cents per share.

ARN will release their half year results next week.