Seven West (ASX:SWM) share price rallies on “record” Olympics ratings

Australian are enjoying watching the Tokyo olympics.
The post Seven West (ASX:SWM) share price rallies on “record” Olympics ratings appeared first on The Motley Fool Australia. –

The Seven West Media Ltd (ASX: SWM) share price is heading for the top of the podium. With most of Australia in or recently out of lockdown, ratings for the Tokyo Olympics are through the roof.

By the close of trade, shares in the diversified media company were selling for 49.5 cents each – up 5.32%. The ASX All Ordinaries Index (ASX: XAO) is 1.19% higher for context.

Let’s take a closer look at today’s news.

And the winner is…Channel 7!

A recent article in industry publication TV Tonight says Network 7 has captured a 50% market share during the first weeks of the Olympics. In fact, compared to the last Olympics in 2016, Seven’s audience is up across the 5 major metro markets by a whopping 59%.

It’s not just Olympic events that are doing well for Seven. Audience figures for the evening quiz show ‘The Chase’, is averaging 742,000. Breakfast news show ‘Sunrise’ is dominating during weekdays and on weekends too.

The Australian reports the glow of the Olympics is spilling over into Seven’s digital platforms. A recent article says streaming figures for the quadrennial event are the “largest in Australia’s history”.

Seven West Media chief digital officer, Gereurd Roberts, said

If we compare this to the previous biggest day in Australian streaming history, that was in July (State of Origin, game three) and that was 86 million minutes and we delivered 363 million minutes last Sunday (July 25).

The biggest day for the Rio Olympics was 36 million minutes.

He added

It’s absolutely surpassed everyone’s expectations from a 7plus and a streaming perspective, after just a week.

These astronomical figures may be piquing the interest of investors judging by the rise in the Seven West share price.

So why are ratings (and the Seven West share price) up?

There are two factors that go some way in possibly explaining why Seven’s audience figures are surpassing even the last Olympics.

The first is lockdown.

Most of the country is either in, or has recently come out of, stay-at-home orders. The largest metro market, Sydney, is in the middle of a 9-week lockdown that may be extended even further. With people at home avoiding coronavirus and with nothing else to do, the Olympics are a very enticing proposition.

Roberts concedes as much to The Australian.

Clearly what’s happened in terms of lockdowns … absolutely that’s something that’s helped with numbers and viewership and that makes this Olympics even more important to deliver.

The second reason? Australia is winning a lot of gold medals.

Currently, Australia is coming fourth on the Olympics medal tally with 14 gold, 3 silver, and 14 bronze medallions. 5 years ago, Australia finished tenth in the rankings with only 8 gold, 11 silver, and 10 bronze. Viewers may want to bask in the radiance of Australia’s winning ways.

Seven West share price snapshot

Over the past 12 months, the Seven West share price has increased 395%. Year-to-date it is up 37.5%.

The 52-week high is 59 cents per share and the low is 9.9 cents a share.

Seven West Media has a market capitalisation of around $723 million.

The post Seven West (ASX:SWM) share price rallies on “record” Olympics ratings appeared first on The Motley Fool Australia.

Should you invest $1,000 in Seven West right now?

Before you consider Seven West, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Seven West wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

2 top ASX shares to buy according to WAM

Wilson Asset Management (WAM) thinks these 2 ASX shares are a buy

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!