• Digital revenues continue to grow thanks to strong digital transformation strategy
• NZME announces three new significant areas of focus
• OneRoof continues to be a strong performer with significant future growth potential

NZME Limited has announced its financial results for the full year ended 31 December 2024, reporting Operating Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of $54.2 million. Despite challenging economic conditions, the company lifted its Operating Revenue for the year to $345.9 million, up 2% from $340.8 million in 2023. NZME also shared three new areas of focus to drive success: 1) Commencing an independent strategic review of OneRoof to evaluate opportunities including potential separation to enable raising external capital, value recognition and monetisation, consolidation opportunities, and additional resourcing to accelerate growth; 2) Seeking a new NZME Board member with experience in digital acceleration and implementing a new OneRoof Board with a property marketplace specialist; and 3) Taking a leadership position to help New Zealand thrive, using its various platforms including the NZ Herald to support the reboot and acceleration of New Zealand's economic recovery, sharing stories of success and building positive momentum. Key financial highlights include OneRoof's strong performance, with positive EBITDA of $2.7 million, and NZME's digital audio revenue reaching $10.8 million, a 32% increase. The company's digital subscription business also demonstrated resilience, with revenue growing 10% to $22.6 million.

Given the revenue growth to date and NZME's focus on cost control, subject to the continuing improvement in market advertising demand, the company expects to deliver improved operating results during 2025.

The beginning of 2025 has started well, with anticipated advertising revenue growth of 4% for the first quarter of 2025 after adjusting for the recent exit of community newspapers. OneRoof has continued its strong audience performance into 2025 and is delivering year on year digital revenue growth of 30% across January and February 2025.