HT&E CEO Ciaran Davis highlights strong ARN performance in AGM address

HT&E’s Annual General Meeting took place this morning, with CEO Ciaran Davis taking the opportunity to highlight the strong performance of ARN, as well as the growth of radio as a medium on the whole.

Davis spoke of the growth of the industry, and the well-known personalities that ARN has used to help establish its stations as some of the biggest commercial players in the country

“Radio is a fantastic industry that remains a growth platform, continuing to prove itself a robust and resilient medium,” he said.

He also addressed the ability of radio to not only flourish in a digital environment, but to also deliver exceptional returns for advertisers (it holds 8% of overall advertising in Australia to this day).

Davis says that ARN finished the year well despite a challenging first half, which saw full-year revenue down only $1.4 million compared to nearly $7 million in the first half. He also highlighted the regaining of its #1 ratings position in August, adding: “Revenue performance reflected these improved ratings”.

The growth in overall audience numbers was also celebrated, with Davis adding: “The live, local and free content provided by well-known personalities means that what is between the songs is more important than the songs themselves”.

He went on to name Jase and PJ, Will and Woody and the impending arrival of Christian O’Connell among the specific on-air changes that have enhanced audience number.

“Jase & PJ on breakfast at KIIS 101.1 deliver a clear point of difference, in a competitive market, and we are very pleased with how they have started, working hard to realise their potential.

“Across the KIIS Drive network, we dictated the changes and took the opportunity to invest in Will & Woody – providing security of tenure for at least three years

“Christian O’Connell on Gold starts on the 4th of June and is a great recruitment for us, presenting a real opportunity to drive market leadership in Melbourne.”

ARN’s iHeartRadio also saw strong growth and increased revenue. The platform reached 1.6 million downloads and 1 million registered users, as well as 370,000 monthly users.

“We also have the largest and growing podcast library in Australia, and at the end of 2017, commenced the monetisation of our iHeartRadio audiences through our ability to now insert digital audio ads,” said Davis.

The company reported a 3% Pro-forma revenue increase on a group basis, while EBITDA was up 1% to $118.4m.