Fairfax Media FY08 Report Highlights - Online Growth is Strong, Print is Diminishing

Vishal Friday, August 22, 2008 ,

David Kirk CEO of Fairfax Media presented FY08 report to the shareholders on Aug 21, 2008. Some of the highlights of this report are :

  • Revenue up 2.9 %
  • Diversified Portfolio - Online, Radio Network, Southern Star, NZ Publishing, Australia and Regional Community Publication
  • Canberra Times advertising revenue growing strongly
  • Sydney’s Community publication were affected by lower real estate activity
  • In all Regional & Community publications revenue is up by 5.5%
  • Melbourne & Sydney markets are showing reduction in advertising (newspaper & magazines).
  • Good growth in magazine revenues
Fairfax Revenue 2008

  • Revenue is down 1.0% in Printing across Australia (17 sites)
  • Printing in Wagg, Nowra and Warrnambool is closed; Burnie closure is announced this month.
  • Strong revenue & profit growth in specialist publications.
  • Business Review Weekly is profitable again
  • AFR.com seems to be doing well even though it’s a walled garden.
  • Online revenues up by 33%
  • Leading player in auctions, motors, real estate classifieds & growing in Employment sections.
  • Fairfax Digital revenue is up 30%
  • Investments in, Thevine.com. au, Watoday.com. au, Brisbanetimes.com. au
  • Fairfax Digital to sell online display advertising for eBay.com.au
  • Radio network revenue is up by 2.1%
  • Sydney advertising on radio is weaker, Rest of the cities (Melbourne, Perth, Brisbane) are doing well
Its not a surprise that Online is growing rapidly and Print is diminishing. Considering the market forces now its not a bad result. It will be interesting to see how it goes in future esp in online consumption of the content, as the platform/medium of consumption is changing rapidly. Expanding into NZ has some success and US agricultural segment is doing well.

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