Author: roymorgansocial

Subscription TV viewers soar during Aussie lockdown – Netflix, Foxtel, Stan, Disney+ & Amazon Prime all up significantly

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Original article by Roy Morgan
The Australian Financial Review – Page: Online : 22-Jul-20

New data from Roy Morgan reveals Australians were adding new subscription TV services at an astonishing rate during the lockdown period which started in late March. Now almost 15.74 million Australians have access to a subscription TV service, up 878,000 (+5.9%) in only three months. All the major subscription TV services have been big winners out of the lockdown with big increases in viewers for Netflix, Foxtel, Stan, Disney+ and Amazon Prime in the three months to May 2020 compared to the prior three month period to February 2020 (pre COVID-19 lockdown). Netflix remains by far the nation’s most watched subscription television service, with 13.28 million viewers, an increase of over 1 million in only three months (+8.8%). Foxtel has also experienced its best growth for many years with over 5.5 million viewers, up 658,000 (+13.6%) since the pre-COVID-19 period. Also growing strongly during lockdown have been third-placed Stan which grew 729,000 (+19.7%) to 4,434,000 viewers, newcomer Disney+ which was up 689,000 (+38.2%) and Amazon Prime Video now with 2,166,000 viewers – an increase of 678,000 (+45.5%) since February.

CORPORATES
ROY MORGAN LIMITED, NETFLIX INCORPORATED, FOXTEL MANAGEMENT PTY LTD, STAN ENTERTAINMENT PTY LTD, DISNEY+, AMAZON PRIME VIDEO

ANZ-Roy Morgan Consumer Confidence slips 0.9 pts to 90.7 but down 2.6pts to 84.8 in Melbourne as COVID-19 cases surge

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Jul-20

ANZ-Roy Morgan Consumer Confidence dropped 0.9pts to 90.7 this week – and is now at its lowest for over two months since May 9/10, 2020 (90.3). The drop in Consumer Confidence was driven by a decline of 2.6pts in Melbourne to only 84.8. The Victorian capital is now well below the national average as it battles a renewed outbreak of COVID-19. Consumer Confidence in Adelaide (92.8) and Sydney (91.0) was also down, although both are slightly above the national figure. Perth is the most confident city in Australia with Consumer Confidence surging 7.3pts to 103.4 as the city welcomed the AFL and football crowds back on the weekend. Consumer Confidence is now 25.6pts lower than a year ago on the comparable weekend of July 20/21, 2019 (116.3) and 4.1pts below the 2020 weekly average of 94.8.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

ATO bill could be tax shield for Alcoa

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Original article by Nick Evans
The Australian – Page: 18 : 17-Jul-20

Alcoa of Australia recently received a tax bill of $921 million from the Australian Taxation Office over alleged transfer pricing. However, due to the alleged behaviour having occurred some time ago, the bill includes an initial interest assessment of around $707 million. Alcoa boss Roy Harvey says the company does not agree with the claims against it, and that it plans to take the matter to the courts. Harvey says Alcoa will use the accrued interest as a tax deduction, which should give it an improved tax position in the near term.

CORPORATES
ALCOA OF AUSTRALIA LIMITED AUSTRALIAN TAXATION OFFICE

Support SMEs in crisis: Comyn

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Original article by Joyce Moullakis
The Australian – Page: 17 : 17-Jul-20

Commonwealth Bank CEO Matt Comyn says the federal government’s coronavirus stimulus measures have been very effective. However, he argues that further support for small businesses should be a priority in future stimulus, and he expects the sector to be a key focus of the government’s upcoming economic update. Comyn has also expressed support for the government’s focus on suppressing COVID-19, noting that completely eliminating the virus will be difficult.

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COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Infrastructure fund extended for five years

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 17-Jul-20

The Northern Australia Infrastructure Facility was due to expire on 30 June 2021. However, the federal government has advised it will now run until 30 June 2026 to assist with Australia’s economic recovery. Established to provide low-cost loans for infrastructure projects across the Northern Territory, Western Australia and northern Queensland, the NAIF was originally worth $5 billion. To date 19 projects have been approved for a total of $2 billion in loans, but only $130 million has been spent so far.

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NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY

Old IR ways would cost jobs in recovery: PM

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Original article by Patrick Commins
The Australian – Page: 4 : 17-Jul-20

Prime Minister Scott Morrison has warned that temporary changes to the Fair Work Act will need to be retained beyond the JobKeeper wage subsidy’s scheduled end date of late September. The amendments enable bosses to vary the hours that an employee works and the duties they perform. Morrison says more jobs will be lost if the nation reverts to the inflexible industrial relations regime that was in place before JobKeeper was introduced. He argues that many companies will continue to benefit from the more flexible arrangements even when their revenue has returned to pre-coronavirus levels.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Pink-collar recession: Data reveals women have borne brunt of pandemic

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Original article by Euan Black
The New Daily – Page: Online : 17-Jul-20

Women’s working hours fell by 7.3 per cent between March and June, according to figures released on 16 July, while men’s working hours fell by 6.5 per cent. Women suffered a 5.2 per cent drop in full-time employment between February and June, compared to a fall of only 3.8 per cent for men. Equity Economics economist Angela Jackson says the government has not focused enough on female jobs during the recession, and she has urged the government to boost female employment by providing more funds for the aged-care sector. Childcare advocates and economists note the return to fee-paying child care will result in many women being compelled to stay at home and work less shifts.

CORPORATES
EQUITY ECONOMICS

PM’s rebuke to Andrews over contact tracing

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Original article by Phillip Coorey Patrick Durkin
The Australian Financial Review – Page: 3 : 17-Jul-20

Victoria reported 317 new coronavirus cases on 16 July, eclipsing the previous daily record. The state also recorded another two deaths from the respiratory illness, lifting the national death toll to 113. Prime Minister Scott Morrison notes that contact tracing procedures continue to be problematic in Victoria, noting that the New South Wales government has managed this much more effectively than its Victorian counterpart. Morrison has also warned of the economic consequences of shifting coronavirus policy from one of suppression to elimination.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Screen industry set for $400m federal boost

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Original article by Tom McIlroy
The Australian Financial Review – Page: 6 : 17-Jul-20

The federal government has announced $400 million in additional funding for the film and television industry as Australia hopes to take advantage of its success in dealing with COVID-19 to lure productions from other countries. The government hopes the expansion of its incentive scheme rules will help support as many as 8,000 short and long-term jobs a year, while large film and TV projects are reckoned to be worth $3 billion in foreign expenditure. The government has previously announced $250 million in support to help get Australia’s creative economy reactivated over the next 12 months.

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ABS June unemployment estimate ignores the 416,000 Australians who have left the workforce since March

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Original article by Michele Levine Gary Morgan Julian McCrann
Market Research Update – Page: Online : 17-Jul-20

The ABS unemployment estimate for June 2020 claims 992,000 Australians were unemployed (7.4% of the workforce), the highest unemployment rate since September 1999. However, the ABS claims 416,000 Australians have left the workforce since March – meaning the participation rate has dropped from 66% to 64% in June. If the ABS participation rate was steady at 66% there would now be 1.41 million unemployed. In addition, within the ABS employment release is a section indicating 175,000 Australians the ABS counts as employed were working zero hours in June and had ‘no work, not enough work available, or were stood down’. If these non-workers are added the adjusted ABS unemployment estimate increases to 1.58 million – an unemployment rate of 11.9%. Combined with the ABS under-employment estimate of 11.7% (1.56 million) that would be 3.14 million Australians unemployed or under-employed in June – 23.6% of the Australian workforce. This ‘adjusted’ ABS estimate is close to Roy Morgan’s unemployment & under-employment estimate of 24.5% for June released two weeks ago.

CORPORATES
ROY MORGAN LIMITED AUSTRALIAN BUREAU OF STATISTICS