Unmade: media and marketing analysis – Details, episodes & analysis

Welcome to an audio-led edition of Unmade. Today we talk to two of the co-founders of Mercha - Ben Read and Sam Hardy. Plus, the top of town pushes down the Unmade Index.

If you’ve been thinking about upgrading to an Unmade membership, this is the perfect time. Your membership includes:

* A complimentary ticket to all of Unmade’s events, including HumAIn (2025), REmade (September 2025), Unlock (31 October), and Compass (November);

* Member-only content and our paywalled archives;

* Your own copy of Media Unmade. 

The Unmakers: Meet Mercha - ‘A digital platform in an analogue industry’

Mercha can claim to be the first branded merchandise player in Australia to have fully digitised its processes in what remains marketing’s arguably most analogue sector.

Last month the company wrapped up a $300,000 crowd-funded seed round, valuing it at around $10m.

In today’s edition of The Unmakers, Unmade’s Tim Burrowes talks to CEO Ben Read and chief revenue officer Sam Hardy about why the promotional marketing sector has taken so long to scale up in Australia. As Hardy puts it: “Mercha is a digital platform in an analogue, old school industry.”

Over just three years, Mercha has ramped up to a turnover of $2.9m in the last financial year.

Promotional merchandise is also a sector facing headwinds as sustainability moves further up the agenda. Mercha claims to be part of the solution by focusing on products that people will want to keep. Says Read: “It is shocking to me that 66% of promotional products end up in landfill. That is just disgusting to me. It should never happen.

“We're trying to be better than an industry that is not trying hard enough.”

By way of example, Hardy adds: “We had a radio station out of Sydney ask us very early on in the piece to do 250,000 whistles for a New Year's Eve event. Plastic whistles next to the harbour. And it would have been great, the revenue. But we turned it down.

“I draw the line on offering people crap that's going into the bin or offering people product that's not made fairly.”

Unmade Index red up top, green below

The Unmade Index slipped on Wednesday after Nine, the biggest locally listed media and marketing stock lost 1.6% to fall back to a market capitalisation of $1.9bn.

The move added to the daylight between Nine and its 60.1% owned subsidiary Domain. Domain slipped by 1.2% yesterday.

Ooh Media was also on a losing trend yesterday, slipping by 1.1%

In the mid market, ARN Media and Southern Cross Austereo both saw slight improvements.

Vinyl Group, which this week announced the acquisition of blockchain music collectibles business Serenade, rose by 9.5%. In the company’s annual report released on Tuesday, it said it had written down the value of its Vampr “LinkedIn for musicians” platform, founded by CEO Josh Simons, by $1.8m, but remained “bullish”.

The Unmade Index slipped by 0.7% to 461 points.

Today’s podcast was edited by Abe’s Audio. As disclosed in the podcast, at the time of recording this interview, I was considering taking part in the Mercha crowd funding round on Birchal, via my super fund. I did choose to invest

We’ll be back with an end-of-week update tomorrow.

Have a great day.

Toodlepip…

Tim Burrowes

Publisher - Unmade

tim@unmade.media

Welcome to Start the Week, our Monday scene-setter for the week ahead. In today’s audio-led edition: We chew over what the ACCC’s concerns over Cartology and Coles 360 may mean for Australia’s retail media sector; Bruce Gordon retires; and yet another significant week in AI developments

If you’ve been thinking about upgrading to an Unmade membership, this is the perfect time. Your membership includes:

* A complimentary ticket to all of Unmade’s events, including HumAIn (2025), REmade (1 October), Unlock (31 October), and Compass (November);

* Member-only content and our paywalled archives;

* Your own copy of Media Unmade. 

Can retail media networks succeed if they are non-retailer owned?; AI’s latest threat; Bruce Gordon hands over

Last week, the ACCC lit the fuse on a new battleground for retailers - does their ownership of retail media networks give them too much power? In today’s podcast, recorded the day before our REmade - Retail Media Unmade conference, we discuss the implications.

Also today: Google’s AI Overviews are finally coming to Australia, which will alarm many publishers; and Google also unveils a powerful new research tool, Notebook LM. And Meta goes hard on AI-generated content.

And Bruce Gordon, proprietor of WIN and kingmaker at Nine, moves into retirement.

Further reading:

* Unmade: Cartel-ogy: The ACCC comes for retail media

* Unmade: Brands beware: ACCC’s supermarkets attack is PR used as an offensive weapon

* ACCC: Supermarkets inquiry August 2024 interim report

* The Australian: Consumer trust in Coles and Woolworths plummets following ACCC action

* Australian Financial Review: Google to test its artificial intelligence-powered search in Australia

* Australian Financial Review: Billionaire Bruce Gordon retires from WIN as succession questions loom

Today’s episode features Tim Burrowes and Cat McGinn.

(pic)

Editing was courtesy of Abe’s Audio, the people to talk to about voiceovers, sound design and podcast production.

Time to leave you to start your week. We’ll be back with more tomorrow.

Toodlepip…

Tim Burrowes

Publisher - Unmade

tim@unmade.media

Welcome to a midweek edition of Unmade.

Tomorrow is Unmade’s third birthday and we’ll be sharing a post with some updates on how we’re travelling, and where we go next. So our usual, audio-led episode is a day earlier than usual, featuring the team at Man of Many at a point when independent digital publishing is a front page political issue.

Further down in the post, the Unmade Index hits another all time low as the valuation of ASX-listed media and marketing companies falls to the lowest point since we started the index two-and-a-half years ago.

Producing independent analysis of the media and marketing industry that goes beyond press releases takes time and resources. If you like what we do, you can support us by becoming a paying member. Upgrade today

Scott Purcell and Frank Arthur’s trip into the independent media establishment with Man of Many

Man of Many has a different founding story to most digital titles.

Neither of its two founders Scott Purcell and Frank Arthur came from a publishing background. Purcell was a credit analyst at Westpac and Arthur was an industrial designer for a street furniture company.

The then housemates started Man of Many as a way of talking about the men’s lifestyle products that interested them.

From something which was essentially a blog, Many of Many has become a company of increasing substance. With a staff of just under 20, the company now talks mental health and carbon neutrality, as well as continuing to champion luxury consumption.

Through persistence and participation, Many of Many has become a significant voice within the publishing ecosystem. If there’s such a thing as an establishment within independent media, then MoM is a member.

They’re signed up for The Digital Publishers Alliance, the Online News Association and the Australian Press Council. Man of Many has been a long time entrant (and sometimes winner) in Mumbrella’s Publish Awards. They’re shortlisted for website of the year and brand of the year amongst other categories this year.

Man of Many says it is now Australia’s largest men’s lifestyle site (albeit, as is discussed in the interview, with much of their traffic comes from overseas).

In today’s podcast conversation with Unmade’s Tim Burrowes, Purcell speaks not just the language of watches and whisky but also brand values and carbon neutrality.

Pragmatically, MoM has successfully applied to be on the Australian Communications & Media Authority’s register of news businesses. Depending what the governmenrt chooses to do about designating Meta or other platforms, that could be crucial for publishers.

Not that Purcell necessarily welcomes the prospect of a Meta designation by Treasury minister Stephen Jones: “We're hoping that there won't be one because I think the impacts of that will be quite detrimental to the broader market. We are an ACMA registered news organization, which was meant to be a requirement under the code for negotiation. But unfortunately, that hasn't really resulted in any further bargaining power for us.” So far, anyway.

If the government does decide to create a digital levy on the platforms, Man of Many will inevitably be one of the voices arguing that lifestyle journalism is a form of public interest journalism that deserves funding. “I think that it is important for it to be quite a broad definition of public interest journalism and that the funding goes towards independent and a diverse set of media,” argues Purcell.

Further reading:

* The business book recommended by Purcell in the interview is Traction, by Gino Wickman;

* See more about Man of Many’s credentials on their About page;

* Man of Many’s advertising page

Unmade Index hits a new low

The Unmade Index hit a new low point yesterday, dropping by 1.06% to 465.2 points.

The previous low came when the index dipped to 465.9 points on July 5.

The Unmade Index, which covers the market capitalisation of all the local ASX-listed media and marketing companies, began at the start of 2022 on a nominal 1000 points. Yesterday’s number marks a fall of more than 53% of their collective value.

Among the larger stocks, Domain saw the most movement, losing 3.1%. Stocks in Domain have lost 15% since it updated the market on its full year numbers last week. Ooh Media lost 2%.

Enero dropped by another 5.2% yesterday, to its lowest point since the early weeks of the Covid crisis in April 2020. Enero lost one of the zeroes from its market cap after falling below a $100m valuation.

Today’s podcast was edited by Abe’s Audio.

I’ll be back tomorrow with Unmade’s three year birthday update. As is the annual tradition, I’ll be sharing details of our financial performance and audience numbers. And we’ll also be announcing a big upgrade on the privileges for Unmade’s paying members.

If you’re interested in retail media, don’t forget that discounted earlybird tickets are on sale for another four days for the next edition of REmade on October 1. And our call for entries for the REmade Awards is live for just another fortnight.

Toodlepip…

Tim Burrowes

Publisher - Unmade

tim@unmade.media

Welcome to Start the Week, our Monday scene-setter for the week ahead.

Today:

* A rubbish start to earnings season;

* The week in results;

* A twist in the government’s sports siphoning laws;

Today’s episode feature Tim Burrowes and Abe Udy.

Further reading:

* Unmade: Seven sets course for an unremarkable decade

* Unmade: SCA disappoints the market

* Unmade: Enero uncovers another Photon legacy to tidy up

* Australian Financial Review: Fewer sports behind TV paywalls under proposed reforms

* The Australian: Australia’s big banks sharply cut back their advertising for home loans

* The Australian: ABC advertising spend hits $8.92m as it works to fix radio, TV ratings

* Sydney Morning Herald: Delta flies high as Netflix increases Australian content

Production was by Seja Al Zaidi with editing was courtesy of Abe’s Audio, the people to talk to about voiceovers, sound design and podcast production.

Message us: letters@unmade.media

Welcome to Start the Week, our Monday scene-setter for the week ahead.

Today:

* Matildas mania;

* Is the uplift in Tassie tourism because of the ads?;

* Could a QMS sale be on the cards?;

Today’s episode feature Tim Burrowes, Seja Al Zaidi and Abe Udy.

Further reading:

* Australian Financial Review: Football Australia chases record TV deal after Matildas success

* The Australian: Matildas’ historic success a bargain for Seven with record audiences tuning into the World Cup

* The Australian: Tourism Tasmania’s marketing campaign attracts visitors, boosts local economy

* Sydney Morning Herald: QMS boss bats away suggestions of sale

Time to leave you to start your week.

Production was by Seja Al Zaidi with editing was courtesy of Abe’s Audio, the people to talk to about voiceovers, sound design and podcast production.

Message us: letters@unmade.media

Welcome to an audio-led edition of Unmade.

Today’s episode features an interview with Adam Ferrier and Jim Ingram, co-founders of full service agency Thinkerbell. The agency recently bought back consultancy PwC’s stake in the business, returning it to full independence.

It’s been six years since the launch of Thinkerbell, a communications agency with foundations in creativity, media strategy, public relations and until recently a foot in the consulting world too. Back when Russel Howcroft was leading PWC’s marketing consultancy arm, the company took a ten percent in the fledgling Thinkerbell which started with the simple proposition of “measured magic”

That part of Thinkerbell changed direction last month when the founders bought back PWC’s stake in the agency as the consultancy struggles with its own existential crisis.

Now that Thinkerbell is fully independent, it was an ideal time for Unmade’s Tim Burrowes to speak to founders Adam Ferrier and Jim Ingram to try and discover why Thinkerbell has succeeded when so many others have not.

The discussion ranges from Thinkerbell’s new start, to the future of the CMO, the rationale for Ferrier’s above-the-parapet TV profile, AI in Thinkerbell, and the secret sauce of their ‘Tinker’ and ‘Thinker’ agency structure. They also tackle some of the agency’s defining work including February’s show stopping '“Tall Poppy” mini film for CGU.

“The marketing science meets hardcore creativity was a really obvious meeting place for where we started the agency,” Ingram says, explaining the synergy of the varied backgrounds of co-founders Ferrier, and Ben Couzens along with Margie Reid who brought order to the agency when she joined soon after launch.

"When the ideas are being had, the concept of how they’re going to be executed and bringing them to life, all starts to happen at the same time as part of the creation process,” Ingram adds.

On the PwC departure, Ferrier says "It feels like the right time to leave.

“We’re now enjoying being 100% rather than 90% independent. Transparency of process is absolutely fundamental to good business today.”

Ferrier also did his best to avoid offering advice on how PWC should tackle its own PR crisis, despite being pushed.

He was more frank about his motivations to be on TV so often. “It must be my ego that drives it. That’s not mutually exclusive to good business sense. Will Leach once told me there’s no business model in flying under the radar.”

Today’s podcast was produced by Seja Al Zaidi and edited by Abe’s Audio the people to talk to about voiceovers, sound design and podcast production.

We’ll be back with more tomorrow.

Toodlepip…

Tim Burrowes

Publisher - Unmade

Message us: letters@unmade.media

Welcome to Start the Week, our Monday scene-setter for the week ahead.

Today:

* Our thoughts on Advertising Week APAC;

* TV bosses lobbying in Canberra;

* Earnings season predictions;

* News Corp kills ad platform project;

* Another editor departs Mumbrella;

Today’s episode feature Tim Burrowes, Seja Al Zaidi and Abe Udy.

Further reading:

* Unmade: Television’s audience decline goes main stage

* The Australian: TV bosses head to Canberra as lobbying efforts heat up

* Sydney Morning Herald: Smart TV showdown on cards as networks fine-tune pitch to Canberra

* Australian Financial Review: News Corp kills major Accenture-advised advertising platform project

* Australian Financial Review: Mumbo jumble

Time to leave you to start your week.

Production was by Seja Al Zaidi with editing was courtesy of Abe’s Audio, the people to talk to about voiceovers, sound design and podcast production.

Message us: letters@unmade.media

Last month, Unmade held our humAIn conference, focused on the impact of AI on the marketing world.

We ended the day with the Great DebAIt, in which our panellists tackled the threats and opportunities of AI head on.

The debate saw two opposing teams, with backgrounds across media and marketing, dispute the proposition that “generative AI is not a threat to media and marketing jobs, but a much-needed tool to expand what’s possible at speed and low cost”.

The speakers debating the proposition were:

* Dre Horton, Co-Founder, Knowing.Me

* Wade Kingsley, Founder, The Ideas Business

* Henry Innis, Co-Founder and CEO, Mutinex

* Cam Price, Co-Founder and CEO, Leadstory

* Larissa Thorne, Director of Digital and Content, Keep Left

* Emile Rademeyer, Executive Director, Creative Strategy, Vandal

Our audience vote had the final word on the debate. To find out who won, listen on.

Today’s podcast was edited by Abe’s Audio the people to talk to about voiceovers, sound design and podcast production.

Message us: letters@unmade.media

Today:

* Foxtel drops more hints about Project Magneto;

* DDB doubles down on digital with RAPP;

* ARN’s cryptic message for Kyle and Jackie O;

* The Logies make a splash for Seven;

Today’s episode feature Tim Burrowes and Abe Udy.

Further reading:

* Sydney Morning Herald: Foxtel aims to disrupt with ‘Project Magneto’ in quest to translate users into profits

* Sydney Morning Herald: Streaming subscriptions continue to grow despite surge in cancellations

* The Australian: Performance marketing agency RAPP opens in Australia

* Unmade: How to mess up your marketing funnel

* Australian Financial Review: ARN buys skywriting to impress Kyle and Jackie O

Time to leave you to start your week.

Production was by Seja Al Zaidi with editing by Abe’s Audio, the people to talk to about voiceovers, sound design and podcast production.

Message us: letters@unmade.media

Welcome to an audio-led edition of Unmade.

In today’s podcast conversation with Unmade’s Tim Burrowes, Will Hayward, CEO of Private Media, discusses innovating within the confines of a challenging media landscape; where the company plans to take Private Media’s business model; the economics of publishing; and the personal toll of the company’s defamation battle with Lachlan Murdoch.

Private Media runs four publications in Australia: news and investigations platform Crikey, small business masthead SmartCompany (which Hayward describes as the ‘reverse of Crikey’), Inc. Australia and public sector-focused The Mandarin.

While Crikey might be Private Media’s most famous asset - including controversial columnists like Guy Rundle in its ranks, and a mission to “tell the truth and shame the devil” - Hayward is as keen to discuss his passion for niche categories that attract readers who are obsessed with a particular subject matter.

“I am very passionate about boring categories. People outside the category think it’s boring, people within the category are obsessed with how much information there is. It needs to be sufficiently big so it can support an advertising product and subscription product, if not also an events product. It’s likely to be run by someone not from a commercial background, rather than someone likely to go into it because there’s money there.”

“The category needs to be information dense. I don’t think the future of media is more Buzzfeeds, more Vices, those products are really hard to build and run in a sustainable way, and clearly the market is showing that to be true, with Vice going bankrupt and Buzzfeed running at a third of its revenue.”

Hayward’s interest in publishing niches is one thing he has in common with the executive chairman of News Corp, Michael Miller, who evangelised deep niches when he was interviewed for the Unmade podcast back in March.

Hayward also discusses how Private Media is planning its growth beyond its current sites. “Within the centre of the company we are working very hard to build a great media product and make great media experiences irrespective of the category we operate in, and deploy that across all of our products. The obvious question after all that, is if you have built a really good product and growth strategy, why apply it to only four things? Private Media is currently thinking about what inorganic growth might look like in the future.”

Hayward also insists he wouldn’t change much about last year’s2022 legal confrontation between Crikey and Lachlan Murdoch, where Murdoch filed a defamation lawsuit against the publisher for claiming his family were "unindicted co-conspirators" in the US Capitol riots thanks to the role of Fox News in stoking unrest. He reveals that the saga led to him seeking professional help for the impact it had on his mental health.

“Litigation is a very tense emotional battle that draws a significant personal cost. it’s hard to reflect on that without going into emotional things,” he says on the matter.

“I had the cast-iron belief we did the right thing. While it caused me a huge degree of personal unhappiness, I felt with absolute certainty it was the correct moral action to take.”

Time to leave you to your Thursday.

Today’s podcast was edited by Abe’s Audio the people to talk to about voiceovers, sound design and podcast production.

We’ll be back with more tomorrow.

Toodlepip…

Tim Burrowes

Publisher - Unmade

Message us: letters@unmade.media