Welcome to an audio-led edition of Unmade. Today’s edition features Sam Buchanan, boss of Independent Media Agencies Australia, the fastest growing of the new generation of industry associations.
Also today, Seven West Media takes a 5% hit on its already challenged share price.
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‘We haven’t been allowed into the nightclub, let alone the dance floor’: How IMAA is speaking up for indie agencies
At a time when the global holding companies have been going backwards, the independent media agency sector has been growing its share of advertising spend.
One factor in the rising profile of the indie sector is new industry body Independent Media Agencies Australia, helmed by Sam Buchanan.
In today’s conversation with Unmade’s Tim Burrowes, Buchanan discusses fighting to get a voice for indies in pitches and with governments, building a community, getting better deals for his members and the role of the industry in diversity and sustainability. He also talks about the lessons learned from the association’s original launch which saw it face a backlash after kicking off with an all male leadership.
Less than five years old, the IMAA is in robust health thanks to the dual revenue streams of payments by media owners keen to get closer to agencies and membership fees. The IMAA’s published accounts show income of $933,000 for the last financial year and a surplus of $152,000.
The discussion also covers where Buchanan plans to take the IMAA next, including an eye to overseas.
Seven slumps on Unmade Index
The Unmade Index rose slightly yesterday despite a dismal day for Seven West Media.
Shares in SWM lost another 5%, as the TV-led company saw its market capitalisation fall to the lowest level in three-and-a-half years.
After dropping below a market capitalisation of $300m earlier this week, SWM’s valuation sagged to $285m on Wednesday.
Having fallen behind IVE Group last month to become the ASX’s sixth largest stock, the resurgence of Southern Cross Austereo and ARN Media means Seven is teetering on becoming merely Australia’s eighth largest listed media company.
ARN and SCA both also fell slightly, by 1.81% and 0.51%, yesterday.
However, the index - which tracks Australia’s listed media and marketing stocks - was buoyed by improvements for Nine and Ooh Media. The index closed on 571.3 points, up by 0.31%
Time to leave you to your Thursday. We’ll be back with more tomorrow.
Editing of today’s audio contentwas courtesy of Abe’s Audio, the people to talk to about voiceovers, sound design and podcast production.
Message us: letters@unmade.media
Tim Burrowes
Publisher - Unmade
Voice of the indies: Sam Buchanan on the rise of Independent Media Agencies Australia