Southern Cross Media Q1 Audio Revenue Rises 4.7%, EBITDA Hits $14M
Southern Cross Media Group reports a robust Q1 FY26 with audio revenues rising 4.7% and EBITDA more than doubling, while preparing for a pivotal merger review.
- Q1 audio revenue up 4.7% year-on-year
- Underlying EBITDA jumps 129% to $14 million
- Metro radio market share climbs to 29.8%
- Digital audio platform LiSTNR grows share to 49%
- Independent expert appointed for Seven West Media merger review
Strong Start to FY26
Southern Cross Media Group Limited (SCA) has kicked off the 2026 financial year with impressive momentum, reporting a 4.7% increase in total audio revenues for the first quarter compared to the previous year. This growth is underpinned by gains in both traditional broadcast and digital audio segments, signaling a well-rounded performance in a competitive media landscape.
Underlying EBITDA surged by 129% to $14 million, a remarkable leap that reflects not only revenue growth but also disciplined cost management. Total costs declined by 3.4%, with non-revenue related expenses falling nearly 6%, demonstrating the company’s commitment to operational efficiency.
Market Share Gains Across Platforms
SCA’s metro radio share climbed to 29.8%, up 1.8 percentage points from the prior year, marking a full year of consecutive monthly share improvements. This steady climb highlights the strength of SCA’s Hit and Triple M networks in retaining and expanding their audience base.
On the digital front, the LiSTNR platform continues to outpace market growth, increasing its share to 49%, a five-point rise. With over 2.2 million signed-in users and an estimated reach of eight million monthly listeners, LiSTNR is solidifying its position as a leading digital audio destination in Australia.
Financial Health and Strategic Outlook
Net debt has been further reduced to $63 million, supporting a stable financial footing as the company pays out its full-year dividend of $9.6 million. CEO John Kelly reaffirmed the company’s FY26 EBITDA guidance of $78 million to $83 million, underscoring confidence in sustained growth and profitability.
Meanwhile, SCA is advancing its proposed merger with Seven West Media, having appointed Kroll as an independent expert to assess the transaction’s benefits for shareholders. The expert’s report is expected in November and will be a critical milestone for investors evaluating the strategic direction of the combined entity.
Overall, SCA’s Q1 update paints a picture of a media company successfully navigating the evolving audio landscape, balancing growth with cost discipline, and preparing for a transformative merger that could reshape its future.
Bottom Line?
SCA’s strong start and merger progress set the stage for a defining year ahead.
Questions in the middle?
- How will the independent expert’s report influence shareholder support for the merger?
- Can SCA sustain its rapid EBITDA growth amid evolving market dynamics?
- What strategies will SCA deploy to further expand LiSTNR’s digital dominance?
