bullish
Media spend to ramp-up in coming quarters
SUMMARY
- RaaS has published an update report on online marketplace Airtasker (ASX:ART) following its Q1 FY24 results and trading update in which revenue grew 13.6% on the pcp driven by a higher monetisation rate, growth in booked tasks and a 104% revenue increase in the UK.
- Media capital spend is set to ramp-up in Q2 and Q3 FY25 as the Australian agreements with ARN media and oOh!media, and US agreements with iHeartMedia and TelevisaUnivision buildup, alongside continued investment in the UK.
- In Australia this spend will correlate with the seasonally-strongest quarters of the year, suggesting a strong lift in revenue growth.
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