NZME Reports Profit Growth as Advertising Revenue Stabilizes

Media company NZME, listed on the New Zealand Exchange (NZX), has reported a modest increase in operating revenue for the year ending December 2025. The company successfully reversed a net loss from the previous year, achieving a post-tax profit of $13.1 million compared to a loss of $16 million in 2024. Although overall advertising revenue declined, improvements in the audio division contributed to the company’s positive financial turnaround.

Advertising revenue for NZME totaled $244.7 million for the year, down from $248.2 million in 2024. The 1% increase in operating revenue, which reached $341.3 million, reflects adjustments made to account for the closure of community publications, which previously contributed $6.9 million to revenue.

Audio Division Drives Revenue Growth

The company’s audio division played a significant role in this year’s financial results. Operating revenue in this segment increased by 5%, totaling $122.2 million. NZME noted improvements in the audio advertising market, which helped bolster the division’s performance. Additionally, audience growth was reported for popular stations, including ZM and The Hits, while iHeartCountry NZ also gained audience share and welcomed new advertising opportunities for 2026. The audio division achieved an operating margin of 15%, a notable increase of 4 percentage points compared to the previous year.

In the publishing sector, NZME continues to face challenges. Print subscriptions experienced a decline, consistent with long-term trends, despite a 3% increase in digital subscriptions. Overall, advertising revenue in publishing fell by 10%, with print circulation remaining the largest revenue source in this division, followed by print advertising. To address these challenges, NZME has stated its commitment to developing a specialized print-only sales team.

OneRoof Shows Resilience in Real Estate Market

NZME’s OneRoof division demonstrated resilience, achieving a 19% increase in residential listings revenue despite a slowing real estate market. Operating revenue overall in this division rose by 5%, showcasing the effectiveness of the company’s digital strategy.

Michael Boggs, chief executive of NZME, attributed the company’s improved results to the hard work of employees and external factors such as easing inflation and a general increase in business and consumer confidence. He emphasized the company’s focus on a digital-first strategy to adapt to evolving audience and client needs. “We’ve reduced our costs and simplified our structure to allow us to operate at pace,” Boggs stated, highlighting the importance of placing specialist support services under each of NZME’s three main business divisions.

The company’s two largest shareholders are Spheria Asset Management and director Jim Grenon, both owning over 18% of NZME. In December 2025, The Spinoff reported that Grenon was financially backing a defamation case brought by controversial evangelist Julian Batchelor. Batchelor has sought damages of $50,000 and an apology concerning the coverage of his nationwide “stop co-governance” roadshow in 2023.

As NZME navigates a complex media landscape, the slight growth in revenue and the strategic initiatives undertaken signal a proactive approach to both challenges and opportunities in the market.