Brutal earnings season drags media stocks ever lower

Tim Burrowes

February 25, 2026 5:24

The Unmade Index’s results season bloodbath continued on Wednesday, with most of Australia’s listed media and marketing companies losing ground.

For the second day in a row, the Unmade Index declined to an all-time low, this time dropping to 406.1 points. The index began four years ago on a nominal 1000 points. This week’s falls take it perilously close to Australia’s media sector having lost 60% of its value in that time. The Unmade Index decline hit 50% in May 2024.

Today’s fall of 1.47% for the Unmade index was in contrast to the wider ASX All Oridnaries which gained 1.24%.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.