24 Jan 2024
On ausbiz with Nadine Blayney I highlighted the step-change Vinyl Group (ASX:VNL) has been making in the local music industry. Backed by Wisetech founder Richard White, VNL has recently purchased Brag Media, publisher of titles such as Rolling Stone and Billboard. Combined with its existing music data business (Jaxsta), social networking company (Vampr) and retail site (vinyl.com) the company expects to generate almost $10m in revenues in CY24.
I also touched on the deluge of financial data coming out in the next 6 weeks with 4C cash flow reports due out by 31 January and 1H24 financial results lodged by the end of February. Investors are looking for results and not promises with companies like EML Group (ASX:EML) and Raiz Invest (ASX: RZI) making the tough, but necessary, decisions to close unprofitable or troublesome international operations.