ARN Media has released its HY23 results this morning.
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Is it any better than SCA’s results?
That could be a deciding factor if there could be any truth in SCA having enough $$$ to lure back K&J.
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ARN all-staff meeting for 8am AEDT tomorrow.
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Will it mean shows like Kyle and Jackie O will be off air during the meeting?
The meeting will take place at 5am in Perth so it shouldn’t affect preparations for The Bunch breakfast show on 96FM.
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Finally we’ll find out the ins-and-outs of K&J’s new contract.
Let’s see what happens to Jase & Lauren and all the regionals.
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Any news?
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ARN Extends Talent Contracts for Sydney and Melbourne’s No. 1 breakfast shows
ARN Media Limited [ASX: A1N] today announced that it has extended the contracts for its two top rating Breakfast shows in Sydney and Melbourne on longer term contracts.
KIIS 1065’s Kyle and Jackie O have been secured until 31 December 2034, another ten years on top of their existing arrangements. In addition, the Kyle and Jackie O Show will also broadcast live into Melbourne on KIIS 101.1 commencing in 2024 on a date to be confirmed.
GOLD 1043’s Christian O’Connell has been secured until 31 December 2029, another five years on top of his existing arrangement.
The new multi-layered contracts are designed to create full alignment with ARN Media and incentivise and reward superior performance and include base fees, revenue share on incremental growth and sign-on bonuses predominantly comprised of shares in ARN Media.
The total base fee increases under these new contract arrangements, which take effect from January 2025, will be offset by lower content costs resulting in part from the live broadcast of the Kyle and Jackie O Show into Melbourne, and will be limited to a net total increase of approximately $2-3 million per annum. These fees are not subject to CPI or any further fixed increases over the term of the contracts.
The new contracts also contain revenue share arrangements which will replace the current audience ratings bonus structure and are designed to reward ratings success only if incremental annual station revenue growth is achieved.
$7 million worth of shares in ARN Media (equivalent to approximately 7.5m shares at yesterday’s closing share price), will be issued to Kyle Sandilands, Jackie Henderson and Christian O’Connell and will vest at the end of the contract term.
Additional marketing investment of around $2 million per annum is anticipated over the next 2-3 years to launch the Kyle & Jackie O Show in the Melbourne market.
ARN Media’s Chairman, Hamish McLennan, said -
We are fortunate to have Australia’s best radio and audio talent at ARN and these re-signings are a vote of confidence that Kyle and Jackie O, and Christian O’Connell, will continue to grow their audiences delivering a style of broadcast that makes them so successful.
ARN Media’s unique compensation package will incentivise them to focus not just on ratings but also to drive commercial success. We believe this compensation structure sets the foundations for the next chapter in ARN Media’s evolution as an audio business, aligning the objectives of our key talent with that of the Company, and creating a platform for incremental revenue growth and improved shareholder returns over the medium term.
ARN Media’s Managing Director & CEO, Ciaran Davis, said:
The contract extensions for Kyle and Jackie O, and Christian O’Connell, reflect our ongoing strategy to invest in, and retain, No.1 breakfast show talent across our network. They have a unique ability to engage and connect with audiences that continues to thrive despite the growing fragmentation of other media consumption channels.
By securing the continued partnership of Kyle & Jackie O and broadening their show into Melbourne, ARN is poised to attract new audiences and expand commercial opportunities. Melbourne is the largest radio advertising market in Australia and represents an opportunity for ARN Media to grow ratings and revenues on KIIS 101.1.
Since launching Sydney’s newest radio station, KIIS 1065 in 2014, Kyle & Jackie O have held the #1 FM breakfast show title for 69 out of 76 GfK Radio Ratings Surveys, and in 2023 the radio duo have been unbeaten in radio ratings, holding the #1FM breakfast show spot all year.
The unparalleled success of the Christian O’Connell Show since launching in 2018 proves the ability of our world leading broadcasters to form real connections and build audiences in a new market. Similarly, Christian O’Connell has held the #1 FM breakfast show title for 27 out of the last 28 GfK Radio Ratings Surveys and has been a dominant force in the Melbourne FM breakfast radio market since relocating to Australia and commencing with ARN Media.
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Aside from coverage across the GOLD and KIIS stations, AO Radio – which “provides ball-by-ball commentary of the matches and regular news updates from across Melbourne Park” – will be streaming on the iHeart app, along with the Australian Open podcast The AO Show.
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On 24 November 2023, the ASX sent ARN a “please explain” letter regarding an article which first appeared in the Australian Financial Review (AFR) two days earlier and before the ASX had published it themselves.
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In other corporate ARN news, their $560 000/year chief programmer, Duncan Campbell was fined $1000, conviction recorded, AVO issued after pleading guilty to a charge of assault of his former partner.
He had previously been pleading not guilty to all three charges, was set to go to trial and then a plea deal was reached.
Of most interest was that newspapers report this wasn’t the first time Duncan Campbell had faced such charges yet previously, such charges were dropped. Not this time.
ARN at a corporate level continue to have no comment on the matter.
They may wish to hide from it yet it’s all out in the public domain having been aired in court and concluded.
I say it’s a bad look for ARN and they should be reviewing Campbell’s employment. Many have been sacked from ARN for far less.
To be upholding the employment of a high profile leader within a company of significant size is a poor look. Duncan Campbell was charged as part of blitz by NSW Police on reducing domestic violence. A very serious and unpalatable crime these days (and always should be).
It’s not his first time either, had been charged in the past with similar charges and had been dropped. Any second chance has well and truly evaporated.
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SCA EMBRACE ANNOUNCES NEW CHARITY PARTNERSHIPS WITH ENDOMETRIOSIS AUSTRALIA AND CANCER COUNCIL
SCA today announced a two-year partnership with Endometriosis Australia and Cancer Council as part of its charity program, SCA Embrace, commencing 1 January 2024.
Launched in 2016, SCA Embrace continues its commitment to corporate social responsibility and the two charities will be provided with in-kind advertising campaigns, strategic support, and consumer insights across SCA’s radio, digital and television channels. SCA staff will also be encouraged to be involved in areas such as research, local community activities, and volunteering opportunities.
SCA CEO, John Kelly, said: “We are absolutely thrilled to be partnering with Endometriosis Australia and Cancer Council as our official charities. The not-for-profit sector continues to face fundraising and awareness challenges, especially in light of the increased cost of living environment many Australians are experiencing and we look forward to supporting both organisations for this two-year term.
“We have chosen both charities because they presented compelling stories that showed us how we could truly make a difference to each organisation, and to educate the wider community across Australia on endometriosis, with the charity’s first ever media partner in SCA. Both charities also provide opportunities for us to support our people who are living with endometriosis or impacted by cancer, allowing us to align with so many different areas of our business.
“Since its inception in 2016, SCA Embrace has provided $237 million of in-kind advertising to our charity partners. To know that our people’s time and expertise, along with our broad media reach is making a noticeable impact to the lives of many Australians is a privilege on behalf of our company to support.”
Endometriosis Australia CEO, Maree Davenport, said: “Endometriosis Australia is extraordinarily grateful to SCA, and our Embrace partnership will amplify the life-defining, painful symptoms of endometriosis, which affects one in seven females and those assigned female at birth (AFAB), based on those diagnosed by 44 to 49 years of age.
“It is estimated that 14% of girls, women and AFAB in Australia live with endometriosis. The average time between the onset of symptoms and diagnosis is still six and eight years, with access to surgical treatment to diagnose and manage the condition taking even longer. With SCA’s national reach across Australia, in rural and regional areas where those living with endometriosis struggle to find timely and appropriate medical care, Endometriosis Australia will change the narrative and SCA will help change the lives of those with pelvic pain and endometriosis.”
Cancer Council CEO, Tanya Buchanan, said: “At Cancer Council we are excited to be entering into a partnership with SCA to increase awareness across Australia of the information and support available to cancer patients and their carers during a cancer diagnosis and treatment. With almost one in two Australians being impacted by cancer in their lifetime, it’s important that the community knows we are here for them so that no one need face a cancer diagnosis alone - because it’s all of us, against cancer.”
For more information on the charities please visit:
www.cancer.org.au and endometriosisaustralia.org/
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ARN has released their Full Year Results for 2023 this morning.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02775573-2A1506493
Presentation:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02775606-2A1506516
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The following partnership commences from June 1, 2024.
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Does this guy ever get tired of talking about himself and his ‘achievements’?
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