SGH chief Ryan Stokes says Seven West Media well positioned for growth
Ryan Stokes believes Seven West Media is in top shape after a “comprehensive” organisational restructure that will enable it to capture growing digital opportunities.
The chief executive of SGH, formerly Seven Group Holdings, told investors at the company’s annual general meeting on Thursday that Seven West Media was now well positioned for growth in the medium term.
“At Seven West Media, they have completed a comprehensive organisational restructure, aimed at sharpening focus on commerciality and fostering a performance culture,” he said.
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By continuing you agree to our Terms and Privacy Policy.“They have also progressed a significant cost efficiency programme to position the business for growth in the medium term.
“Looking ahead, Seven West’s digital platform continues to grow audiences and reach, with a focus on capturing growing digital revenue opportunities.”
These comments come a week after his father — Seven West Media chairman Kerry Stokes — said the company initiated a group-wide restructure in FY2024 “to confront the headwinds facing our industry”.
“This was designed to invigorate the business and set us up to best exploit modern consumer habits, fast-track transformation, control costs, grow audiences and maximise revenues,” he said.
These changes included the creation of streamlined divisions — television, digital and Western Australia.
“This positions the digital operations as our top growth priority and a fundamental driver of earnings,” Kerry Stokes said.
He said the WA division was a market leader in digital innovation.
“(This is) best exemplified by the successful launch of Australia’s newest, and fastest growing, national news brand, The Nightly,” he said.
“Its impact with readers and advertisers will help drive further adoption of technology that will transform how our business both delivers news and tells the stories connecting communities across all corners of our vast country.”
SGH has a major stake in WA Newspapers, the publisher of The West Australian, thewest.com.au and The Nightly.
