App becomes Southern Cross’ north star as profits drop

[Pelican Press 0]

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App becomes Southern Cross’ north star as profits drop

The nation’s largest radio broadcaster has joined other media companies to record a drop in earnings as the advertising market continues to fracture and consumers turn to streaming.

Southern Cross Media Group recorded revenue of $499.4 million in the 12 months to June 30, nearly $5 million less compared to the previous financial year, while underlying operating earnings were down by 14 per cent to $66.2 million.

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