-circa $54 million of television election advertising dollars spent on linear tv and BVOD in the last 5 weeks.Considering that SWM has been tracking at >40% Total tv revenue share this could represent circa $18-20 million of additional revenue for SWM during just the last 5 weeks.
Notably it also clearly demonstrates both the powerful reach of Total Television alongside the new ability to target ads to specific voter groups/ areas through 7plus.
This is an absolute landslide of election ad revenue for SWM which has exceeded my prior forecast by a considerable margin.
As always the story of SWM is one of operating leverage and when you have a business which trades at the stupidly cheap price of less than 1.4 times mid cycle earnings ($155m NPAT) and which has a landslide of revenue you suddenly have a business which delivers multi-bagger returns.
SWM Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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