The country’s largest media groups will lose $550 million by 2025 – and $1.1 billion by 2027 – in advertising spending to retailers such as Woolworths, Coles and Amazon as the retailers accelerate their growth in the lucrative sector, Morgan Stanley warns.
The investment bank’s brokers have downgraded their valuation of the five largest ASX-listed media stocks – ARN Media, Southern Cross Media, Seven West Media, oOh!media and Nine Entertainment – as a result of the “not well understood” threat of retail media.
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Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
