Sports Entertainment Group have released their FY21 results, and show revenue is up by 10.4% and EBITDA up by 109.6% on last year.
Total revenue for the group was $73.7M compared to $66.8 in FY20, while operating costs were down by $3.3M, while Net Debt was up to $11.2M.
SEG renewed its existing financing facility with the Commonwealth Bank for a further three years, and still has $12M of undrawn funds available as at June 2021.
The group has also expanded from a two owned station network in Melbourne 18 months ago, to a 24 owned station network that now spans all capital cities, and a number of key regional towns across Australia.
This network was further expanded subsequent to FY21 with the launch of SENZ in New Zealand.
SEN has added 657 kHz AM Perth to it's network, which the ACMA recognises is a poor area for AM coverage. There is also 1206 from the WA TAB. These stations and the community 91.3 6WSM are the only sporting stations which are not on DAB+ digital radio. If the current licence inquiry decides to convert all ABC services along with 6PR and 6IX to FM there will be no AM stations in Perth, which has a population of over 2 million people.
Perth has a flat coastal plain where most live and is well covered from the Bickley/Carmel transmitter sites. There is one DAB+ transmitter for ABC/SBS and the other for commercial/community. These transmitters have no space for more broadcasters. Perth is an ideal site for the introduction of Digital Radio Mondiale which can carry 3 programs on a single transmitter. For sporting broadcasters DRM receivers can display images of Journaline, which can contain thousands of pages of text so could contain many sport results and images of photo finishes and sports stars, and can be accessed from an index on the radio. No internet is required.
With SEN's extra profit it would be a good time to reduce transmission costs and improve the listening experience for sports fans. www.drm.org for more information.