Scorecard: How FY24 was the year the bears came after Australia's media stocks
Scorecard: How FY24 was the year the bears came after Australia's media stocks
Welcome to Tuesday’s update from Unmade. In today’s members-only post, we calculate our ASX scorecard for the 2024 financial year. As we reveal below, Australia’s listed media and marketing companies have lost more than $2bn in market capitalisation over the last 12 months
Further down, on the first day of the new financial year, the Unmade Index slips close to its low point once again.
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How Nine and Seven West Media led the Unmade Index down in the last financial year
This marks the third time Unmade has written an end of financial year wrap for our ASX-listed media and marketing stocks. Today’s numbers are the worst yet. All but three of the 14 local stocks we track have lost value for their investors in FY24.
In total, the Unmade Index lost $2.172bn in valuation. More than half of that came from the decline of Nine, which lost $1.157bn in its market cap.
Here’s the scorecard: