Fairfax flags revenue increase

A small increase in overall revenue has been flagged by Fairfax Media chief executive Greg Hywood, with circulation revenue for its Metro Media properties up almost 30 per cent over three years, including 158,000 digital subscriptions.

Mr Hywood detailed Fairfax’s year-on-year revenue trends to April 2015 on Wednesday at the Macquarie Australia Conference in Sydney,

Revenue from the Metro Media division overall, which includes Domain as well as the publisher’s major city dailies, is up by around 7 per cent. Domain’s revenue is up 54 per cent, taking into account the acquisitions of MMP in February and Allhomes in October last year.

Australian Community Media is down by around 8 per cent, New Zealand properties improved by half a percentage point and radio properties were up 9 per cent, including the four weeks following the Macquarie Radio Network merger.

Revenue across the whole company in the year to April is up by just under 1 per cent compared to the same period last year.

Mr Hywood told the conference that streaming service and Nine-Fairfax joint venture Stan is expected to have 300,000 to 400,000 users by December this year.

Stan sign-ups are currently heading towards 200,000 and currently users are streaming around 1.5 million hours worth of content per month.

Australian Community Media’s NewsNow system, which is a shift to digital-first production using a new CMS, has resulted in an average digital audience increase of around 40 per cent, the company says.

ACM says it aims to save $60 million by the next financial year.

Mr Hywood also spoke about the ongoing restructuring at Fairfax, which has seen staff numbers drop by 26 per cent between December 2011 and the same month last year, and a $1.16 billion reduction in net debt.

For more news from The Newspaper Works, click here.

Leave a comment