Isentia Cuts Singapore Team after King Content Closure

Australian media monitoring and intelligence group Isentia has made more than half its Singapore-based content marketing staff redundant, following the recent closure of its King Content business.

Acquired by Isentia in 2015 for around $48m, King Content offered content generation, marketing and measurement, as well as a range of social media strategy development, community management, and measurement and reporting services. In August, Isentia was restructured to focus on integrated media intelligence, research, insight and strategy content. Part of this restructure involved the integration its social media insights company Brandtology and King Content brand into Isentia.

Last month, CEO John Croll (pictured) announced that Isentia would be winding up its content marketing division in New York and Hong Kong, due to its poor performance, and would fully write down the value of the business. At the time, the company maintained that the Singapore office would continue to trade, but after making eight of the team redundant, the fate of the remaining seven employees remains uncertain.

Last week, Croll informed shareholders that Isentia is predicting a profit drop of up to 23% for the financial year, leading to company shares falling by 45%. For the first-quarter of FY 2018, Isentia's trading conditions were mixed, and management's FY 2018 guidance is for revenue between $133m and $138m, and EBITDA in the range of $32m and $36m. This compares with revenue of $155.1m and EBITDA of $41m in the full financial year 2017.

Web site: www.isentia.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.