BotD: W+K explains McBloke hires; Ooh Media drops below $600m threshold; CRA claims most podcasts get 100,000+ downloads
Welcome to an end-of-day edition of Unmade.
In today’s Best of the Day: Commercial Radio and Audio reckons most podcasts get 100,000+ downloads; W+K says it plans to add more diversity to its Australian team; and Ooh Media falls below a $600m market cap for the first time.
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Seven West Media takes a hit as UBS re-rating pushes Ooh Media below $600m for the first time
The Unmade Index fell further into negative territory today, losing another 1.3% after yesterday’s 2.5% hit.
Seven West Media had the worst of it, losing 6.1% to land on a market capitalisation of $239m.
Ooh Media hit a new all-time low, with its market cap falling below $600m for the first time after UBS re-rated stocks in Ooh Media and Nine from “buy” to “neutral”. Despite growth in the outdoor sector last year, Ooh Media had lost market share, UBS said.
Meanwhile ARN Media lost 0.8% to land on $203m, its lowest market cap since September.
The Unmade Index landed on 440.6 points.
The day: Brooks out; W+K promises diversity; podcast claim
Retail roundabout
The surprise departure of the day was the exit of Paul Brooks from Coles360. In a new version of “spending more time with the family”, Coles said the reason was a decision to refocus the operation on its Melbourne base.
Big Mac flack
Creative agency Wieden + Kennedy addressed its bungled launch into the Australian market, arguing that criticism of its all-male creative leadership announcement lacked context. A spokesperson told Mumbrella that diversity would follow.
Nine’s news promotions
Nine promoted its Melbourne news chief to a national role, giving Hugh Nailon the title of national news director, reporting to director of TV News & Current Affairs, Fiona Dear. Michael Best was appointed Sydney news director, replacing Simon Hobbs who departed late last year. The shakeup was triggered after the messy departure of former news and current affairs chief Darren Wick
Podcasting-a-go-go
Industry body Commercial Radio & Audio released its annual report on the growth of the podcast sector.
In one of the harder-to-believe stats from Triton, CRA claimed that 63% of podcasts have more than 100,000 downloads.
Time to leave you to your evening. We’ll be back with more soon.
Have a great day.
Toodlepip…
Tim Burrowes
Publisher - Unmade + Mumbrella
tim@unmade.media
