ARN announces $40m in cutbacks amid market concerns over Sandilands
Radio giant ARN will rip out $40 million in costs over the next three years as it strives for growth in its Australian operations.
In its full-year 2024 results call, ARN revealed flat revenue and forecast “low single-digit growth” in 2025. In the subsequent question time, one investor demanded to know what would happen if star presenters Kyle Sandilands or Jackie Henderson were knocked out by illness.
Sandilands went public about a brain aneurysm earlier this year, saying to his critics: “You may get your wish. I may be dead.” He and Henderson signed a $200m 10-year contract with ARN in 2023.
I think SCA has created a far more sustainable and profitable audio ecosystem than ARN. The fact that SCA own their own platform, have the lion share of digital audio revenues – pacing at a substantial premium to iHeart/ARN, and have a digital stack of global recognition places SCA well in front. Not sure ARN has ever been profitable on their partnership with iHeart since 2013!