Vinyl Group Ltd Eyes First EBITDA Positive Year After Nominal Cost Deals

Vinyl Group (ASX: VNL) has acquired Pedestrian Group and Time Out Australia for nominal consideration, pushing its online reach to 55% of Australians and forecasting its first EBITDA-positive year in FY27 with $3.5 million on $37–$40 million revenue.

By Josua Ferreira -

Key Takeaways

  • Vinyl Group acquired both Time Out Australia and Pedestrian Group for nominal consideration, adding two nationally recognised media brands with minimal cash outlay and lifting its de-duplicated online reach to 55% of Australians — on par with Nine and the ABC.
  • Management has forecast FY27 EBITDA of $3.5 million on revenue of $37–$40 million, which would mark the company's first EBITDA-positive year and represent approximately 100% revenue growth.
  • Pedestrian Group, acquired from Nine Digital Pty Ltd, is forecast to contribute $0.6 million to $0.8 million in EBITDA in FY27, while Time Out Australia is already profitable and expected to deliver a positive EBITDA contribution.
  • Vinyl's Adaptive Media model delivered over 300 campaigns in the prior year for brands including Spotify, McDonald's, Samsung, and Disney+, with the Mentos campaign achieving 19.6% video engagement against a 5% target.
  • An Agentic AI-first strategy is under development, with a comprehensive update flagged to accompany the FY26 results — a forward catalyst investors should monitor alongside the Q4 FY26 integration timeline.
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