Australia's advertising market has experienced "significant softness" in recent months, the parent company of the KIIS and Gold radio networks says.
ARN Media said Wednesday that broader economic uncertainty and cautious client sentiment were weighing on advertising spending across the industry.
The company formerly known as APN News & Media and Here, There & Everywhere expects its revenue for the second half of 2025 to decline 'by the low double digits' compared to the prior year.
ARN brought in $142.3 million in revenue in the six months to June 30, down seven per cent from a year ago.
At the start of the year ARN began a $40 million three-year cost-cutting program, and says $35 million of that has already been actioned with 240 roles removed.
ARN expects its full-year earnings before interest, tax, depreciation and amortisation to be down 25 to 27 per cent from 2024, when it made $93.1 million in EBITDA.
The company had $77.5 million in net debt as of June 30, down 10.9 per cent from the start of the year.
ARN owns a total of 58 radio stations across Australia, including the KIIS Network, the home of the popular Kyle and Jackie O breakfast radio show, as well as the streaming platform IHeartRadio Australia.
ARN shares were down 11.5 per cent to a six-week low of 48 cents early Wednesday morning.
