NZME Ltd. ( (NZMEF) ) has released its Q4 earnings. Here is a breakdown of the information NZME Ltd. presented to its investors.
New Zealand Media and Entertainment (NZME) Ltd. is a leading multimedia company in New Zealand, offering a diverse range of media services including radio, publishing, and digital platforms. The company is known for its strong presence in the media industry and its commitment to digital transformation.
In its latest earnings report for the year ended December 31, 2024, NZME reported a slight increase in operating revenue to $345.9 million, up 2% from the previous year. Despite a challenging media landscape, the company maintained its focus on digital transformation and innovation, which has been pivotal in driving growth.
Key financial highlights include an operating EBITDA of $54.2 million, a decrease from the previous year, and a statutory net loss after tax of $16.0 million, primarily due to a $24 million non-cash impairment of intangible assets. The company’s digital revenues now constitute 31% of total revenue, reflecting its strategic emphasis on digital growth. Additionally, the OneRoof division showed significant growth, with digital revenue increasing by 51% year-on-year.
Looking ahead, NZME remains committed to advancing its market position through innovation and expanding its digital offerings. The company is optimistic about future growth, driven by its strategic focus on digital transformation and audience engagement, despite the ongoing challenges in the media sector.