The Ministry of Tourism has pointed to China as Australia's fastest growing market, although inbound tourism is under threat due to souring diplomatic relations between Australia and China, and is looking to India and Malaysia for good growth as well.
Tourism Australia is launching its third global campaign in four years under the tagline "There's nothing like Australia." The campaign, which includes digital, print, TV and online elements, is centred on an online interactive map of Australia, which features almost 30,000 images and stories submitted by the Australian people.
More Australian brands are planning to use social media despite difficulties measuring effectiveness, a Nielsen study has revealed. The Nielsen-Community Engine 2010 Social Media Business Benchmarking Study found that 70% of all respondents said they planned to conduct some social media activity in the next year. This figure is 30% higher than figures gathered in 2008.
Newspaper websites are complementing rather than replacing print editions in Australia, according to a study from Newspaper Works. The report found that 80% of respondents use online for quick news and information where as print editions offered 75% for a more 'relaxed' experience.
Emap - which has been up for sale or break-up since July - has sold its Australian magazines to ACP Magazines for A$94 million (£38 million). ACP is already the largest magazine publisher in Australia, and the deal - which covers 25 titles - therefore strengthens its market-leading position.
Seven Network in Australia managed to increase its profits (excluding one-off items) by 62% in its last financial year. Seven attracted viewers from both its main rivals - Nine and Ten - and raised its share of the television ad market from 34.5% to 37.5%.
James Packer's Publishing and Broadcasting Limited (PBL) confirmed today that it is in discussions with buy-out firm CVC Asia Pacific to sell a further 25% of PBL Media; but no agreement has yet been reached. Six months ago, PBL formed joint venture PBL Media with CVC when it sold half of its free-to-air television assets, magazines and an internet portal.
Mr Packer, Australia's richest man, is looking to move away from traditional media and expand further into the more profitable casinos buisness. As we reported earlier this month, PBL is to split into two separate companies: Consolidated Media Holdings (CMH) and gaming operation Crown.
Commenting on the move, Sydney-based
Traditional media is a low-growth business in Australia, as in the UK and, of course, he [Mr Packer] is interested in selling down those assets to achieve a much higher PE valuation for his gambling and internet investments.
Australia's largest casino and media owner, James Packer's Publishing & Broadcasting Ltd, is to split into two companies and return A$2 billion to shareholders.
Gaming company Crown will own a range of gaming assets, including the Crown casino in Melbourne, while media company Consolidated Media Holdings (CMH) will own a 50% stake in PBL Media, a 50% stake in Fox Sports and a 25% stake in Foxtel, among other interests.
Commenting on the split, James Packer said:
It is now time to let these two successful businesses prosper in their own right. Investors will hve the opportunity to invest in a strong and growing pure play media company and also in a world class gaming company.
It is the second major restructure since Packer, the richest man in Australia, inherited the company 17 months ago.
News Corp has sold its 7.5% stake in the Australian publisher Fairfax Media for A$380 million (about £150 million), which - according to News Corp's The Times - was at a 5% profit.
Much of the news coverage is focusing on the relevance of this disposal to News Corp's bid for Dow Jones, and certainly freeing up the extra cash won't hurt the bid. But News Corp may have been motivated more by developments in Australia.
News Corp originally bought the stake in October 2006, soon after the Australian passed laws to liberalise media ownership laws. News Corp would not have been able to launch a full bid for Fairfax even under these new laws, but News Corp was thought to be interested in influencing any future takeover.
In December 2006, though, Fairfax announced that it intended to merge with Rural Press Limited - another Australian publisher - and last month the merger was approved by shareholders. News Corp is thought to have concluded that the merger makes Fairfax less vulnerable to takeover, and that its cash would be better invested elsewhere.
