Is 97.3FM Metro Radio’s Best Financial Performer?
Not only does 97.3FM currently have Brisbane’s largest audiences, revenues and profits, but there is also compelling evidence supporting the view that the station has been metropolitan radio’s best and most consistent financial performer over the past decade.
In calendar year 2014 (CY2014) the station grew sales revenues by 15.9% to $29.3 million and increased operating profits by an even larger 21.3% to $14.7 million, thereby generating a record 50.2% operating margin.
Although a handful of other metro radio stations, most of which operate in the larger Sydney and Melbourne markets, have generated larger annual revenues and/or profits at times over the past 10 years, none are likely to have bettered 97.3FM’s steady financial performance over that period in terms of both consistent revenue and profit growth and the maintenance of high and still-improving profit margins.
The station’s financial credentials are extremely impressive. For example, since it commenced broadcasting:
- The station has been profitable since its first full year of operation in CY2002;
- Sales revenues and operating profits have increased in every year except one since CY2002;
- Since its first full year of operation, sales revenues and operating profits have increased at compound annual growth rates (CAGRs) of 10.4% and 15.9% respectively; and
- Over the past five years, the station has generated an average annual operating profit margin of 49.0%.
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