BotD: Market sentiment turns against media as RBA warns of tariff headwinds
Welcome to Best of the Day on the day the Reserve Bank of Australia cut rates but spooked media investors by warning of headwinds to come.
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Unmade Index sentiment cools over RBA tariff caution
The Unmade Index ignored the lead of the wider ASX All Ordinaries which was buoyed by today’s rate cut, and instead moved slightly into negative territory.
The decline in the Unmade Index came after RBA governor Michele Bullock warned of a tightening economy including the “possibility that there’s a really bad outcome” from tariffs.
Advertising budgets tend to be among the early casualties of an economic slowdown.
The Unmade Index dropped by 0.22% to land on 549 points.
Nine lost 0.3% while Seven West Media fell before recovering in late trading to finish up 3.3% for the day.
Southern Cross Austereo lost 0.7%. ARN Media and Ooh Media went the other way, gaining 1.9% and 0.6% respectively.
The Day Today: Ooh Media’s idiosyncratic techstack; Omnicom agency exit; Vinyl’s new publishing boss
Historic ‘idiosyncrasies’ still slowing down Ooh Media
Ooh Media’s new sales chief Mark Fairhurst acknowledged that the outdoor giant is still dealing with the technical legacy of rolling together multiple media companies through mergers and acquisitions without having built a single streamlined booking system.
He told Mumbrella: “ The history of Ooh Media is that it’s been built on the acquisition of a number of leading outdoor media companies along the way, each with their own complications and idiosyncrasies.”
Omnigone
Omnicom Media group killed off the local Resolution Digital brand, folding it into Hearts and Science.
Mountain of compromise
Paramount Global lost the chief of its flagship CBS News brand Wendy McMahon after she resigned in protest over the compromises being made by management to get its merger-takeover by Skydance Media approved by Donald Trump’s administration. Paramount owns Network Ten in Australia.
New publisher at Vinyl
Vinyl Group promoted Tahlia Phillips to run its publishing operation. Phillips was previously general manager of Concrete Playground, which Vinyl acquired in March. Vinyl’s mastheads include Variety Australia, Rolling Stone Australia, The Music Network and Mediaweek. The company’s publishing division Vinyl Media was previously run by interim general manager Joel King, who is chief operating officer of parent company Vinyl Group
More from Mumbrella…
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The campaign with a double meaning: Ikea celebrates 50 years in Australia
Time to leave you to your evening. We’ll be back with more tomorrow.
Have a great day
Toodlepip…
Tim Burrowes
Publisher - Unmade + Mumbrella
tim@unmade.media
