1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Tim Burrowes from Unmade states that the ASX-listed media sector has significantly underperformed, losing nearly 57% of value since 2022. Despite a recent low, media stocks like Nine (ASX:NEC) and Seven West Media (ASX:SWM) face falling valuations faster than their profits. Tim notes traditional media is struggling against social platforms like Google (NASDAQ:GOOG), Meta (NASDAQ:META), and TikTok, which attract increasing advertising revenue.
He suggests consolidation as media companies are relatively cheap. Generative AI, such as Google's (NASDAQ:GOOG) AI overviews, presents further disruption as it alters traffic-driven business models. Demand for information remains, needing new strategies as seen with subscription models.
Tim highlights leadership changes in companies like Nine, led by Hugh Marks and Mike Sneesby, and cultural reviews at ARN (A1N). The costly deal with Kyle Sandilands and Jackie Henderson reflects longer-term strategies despite challenges.
