Nzme Limited · NZX:NZM
Nzme — Investor Presentation (2025)
39 slides from Nzme's investor presentation, Jul 3, 2025
Slide 1: The Infinite Dial NZ 2025
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Slide 2: Today's Agenda
Today’s Agenda H I G H LEVEL M ED I A TOTAL RADIO TRENDS ONLINE AUDIO PODCASTS LA N D SC A PE OBSERVATIONS AND PA N E L C H A T I N CAR SMART SPEAKERS IMPLICATIONS
Slide 3: Total Audio Landscape
hati! THE INFINITE DIAL NZ 2025 Total Audio Landscape
Slide 4: In 2025, Audio now leads consumption for Kiwis
In 2025, Audio now leads consumption for Kiwis Weekly Media Consumption TOTAL NEW ZEALAND POPULATION 16+ % DOING ACTIVITY IN THE LAST WEEK 92 Listen to audio (Online music, podcasts, 94 over-the-air radio, or radio online) 92 Watch TV/video (Free to air or video streaming services) 92 Watch/listen t
Slide 5: Driven by Radio's resilience and burgeoning podcast consumption
Driven by Radio’s resilience and burgeoning podcast consumption Weekly Media Consumption TOTAL NEW ZEALAND POPULATION 16+ % DOING ACTIVITY IN THE LAST WEEK 92 Listen to audio (Online music, podcasts, 94 over-the-air radio, or radio online) 92 Watch TV/video (Free to air or video streaming services)
Slide 6: Growth in consumption driven by 35-54
Growth in consumption driven by 35-54 Weekly Media Consumption TOTAL NEW ZEALAND POPULATION 16+ % DOING ACTIVITY IN THE LAST WEEK 2023 2025 98 98 96 91 89 89 81 77 79 73 73 67 48 47 35 37 24 26 Total Audio Radio Podcast Total Audio Radio Podcast Total Audio Radio Podcast Age 16-34 Age 35-54 Age 55+
Slide 7: Total Radio Trends
il THE INFINITE DIAL NZ 2025 Total Radio Trends research
Slide 8: The majority of the population are listening to Live Radio
The majority of the population are listening to Live Radio Listening to AM/FM Radio in the last week TOTAL POPULATIONS % LISTENED TO RADIO IN LAST WEEK RADIO INCLUDES AM/FM RADIO, BOTH OVER-THE-AIR AND ONLINE 2022 2023 2024 2025 79 79 81 78 73 70 68 61 59 58 55 N=1502 N=1500 N=1500 N=5020 N=985 N=15
Slide 9: Improvement for Radio among those over 35
Improvement for Radio among those over 35 Listening to AM/FM Radio in the last week TOTAL NEW ZEALAND POPULATION 16+ % LISTENED TO RADIO IN LAST WEEK RADIO INCLUDES AM/FM RADIO, BOTH OVER-THE-AIR AND ONLINE 2022 2023 2025 79 76 74 73 75 69 71 58 54 N=450 N=339 N=306 N=454 N=371 N=341 N=481 N=394 N=3
Slide 10: Live Radio is the dominant channel in car
Live Radio is the dominant channel in car Audio Sources Currently Used in Car BASE: NEW ZEALAND AGE 16+ AND HAS DRIVEN/RIDDEN IN CAR IN LAST MONTH; N=914 % USING AUDIO SOURCE IN CAR AM/FM Radio 72 Own playlists 48 Online audio 45 Podcasts 32 CD player 29 MP3 digital files 17
Slide 11: Live Radio is also the dominant, scaled ad supported audio channel
Live Radio is also the dominant, scaled ad supported audio channel Weekly Listening to Ad-Supported Audio TOTAL NEW ZEALAND POPULATION 16+ % LISTENED TO AUDIO SOURCE IN LAST WEEK 2023 2025 (n=1105) (n=1007) 70 68 25 21 14 13 Ad-supported Ad -supported Any Spotify YouTube Music AM/FM radio
Slide 12: Online Audio
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Slide 13: Online Audio very stable, suggesting at a threshold
Online Audio very stable, suggesting at a threshold Monthly Online Audio Listening TOTAL POPULATIONS % LISTENED TO ONLINE AUDIO IN LAST MONTH ONLINE AUDIO = LISTENING TO AM/FM/DAB RADIO STATIONS ONLINE AND/OR LISTENING TO STREAMED AUDIO CONTENT AVAILABLE ONLY ON THE INTERNET 2022 2023 2024 2025 81 8
Slide 14: Slight shifts only; audience delivery is maintained across the ages
Slight shifts only; audience delivery is maintained across the ages Monthly Online Audio Listening TOTAL NEW ZEALAND POPULATION 16+ % LISTENED TO ONLINE AUDIO IN LAST MONTH ONLINE AUDIO = LISTENING TO AM/FM RADIO STATIONS ONLINE AND/OR LISTENING TO STREAMED AUDIO CONTENT AVAILABLE ONLY ON THE INTERN
Slide 15: General decline across the global ad-supported platforms
General decline across the global ad-supported platforms Online Audio Platforms Listened to in Last Month TOTAL NEW ZEALAND POPULATION 16+ % LISTENED TO ONLINE AUDIO BRAND IN LAST MONTH 31 2023 (n=1105) YouTube Music Ad-supported 27 2025 (n=1007) Spotify Premium 29 28 Spotify Ad-supported 17 16 iHea
Slide 16: Significant growth in NZ platforms used most often
Significant growth in NZ platforms used most often Ad-Supported Audio Platform Used Most Often BASE: NEW ZEALAND POPULATION 16+ AND USE AD-SUPPORTED ONLINE AUDIO MOST OFTEN Ad-supported Ad-supported YouTube Music Spotify iHeartRadio Rova SoundCloud 2023 49 31 11 7 2 (N=450) 2025 44 26 20 8 2 (N=383)
Slide 17: NZ platforms show strength in key commercial audiences
NZ platforms show strength in key commercial audiences Ad-Supported Audio Platform Used Most Often BASE: NEW ZEALAND POPULATION 16+ AND USE AD-SUPPORTED ONLINE AUDIO MOST OFTEN Ad-supported Ad-supported YouTube Music Spotify iHeartRadio Rova SoundCloud Total 44 26 20 8 2 (N=383) Age 16-34 45 34 7 5
Slide 18: Podcasting
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Slide 19: Podcast continuing to appeal, with 20% growth in listening
Podcast continuing to appeal, with 20% growth in listening Monthly Podcast Consumption TOTAL NEW ZEALAND POPULATION 16+ % LISTENED TO OR WATCHED A PODCAST IN LAST MONTH 55 46 39 N=1305 N=1105 N=1007 2022 2023 2025
Slide 20: With NZ maintaining world-leading listening levels
With NZ maintaining world-leading listening levels Monthly Podcast Consumption TOTAL POPULATIONS % LISTENED TO OR WATCHED A PODCAST IN LAST MONTH 2022 2023 2024 2025 59 55 52 55 47 48 46 42 40 43 38 39 42 N=1502 N=1502 N=1500 N=1500N=1500 N=5020 N=5020 N=985 N=985 N=1576N=1576 N=1719 N=1543 N=2024 N
Slide 21: Podcast becoming a multi-channel format
Podcast becoming a multi-channel format Monthly Podcast Consumption TOTAL NEW ZEALAND POPULATION 16+ % LISTENED TO OR WATCHED A PODCAST IN LAST MONTH Reported 55 watching but not listening 47 35 Listened to a podcast Watched a podcast Listened to/watched
Slide 22: Podcast appeal is increasing across all age groups
Podcast appeal is increasing across all age groups Monthly Podcast Consumption TOTAL NEW ZEALAND POPULATION 16+ % LISTENED TO OR WATCHED A PODCAST IN LAST MONTH 2022 2023 2025 71 59 60 58 54 49 49 38 32 42 25 N=450 N=339 N=306 N=454 N=371 N=341 N=481 N=394 N=359 N=1,014 N=1,502 N=1,500 N=985 N=1,576
Slide 23: Smart Speakers
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Slide 24: NZ appears to have plateaued below global adoption
NZ appears to have plateaued below global adoption Smart Speaker Ownership TOTAL POPULATIONS % OWNING SMART SPEAKER 2022 2023 2024 2025 59 40 35 36 34 35 34 42 28 28 20 22 22 N=1502 N=1500 N=1500 N=5020 N=985 N=1576 N=1719 N=1543 N=1385 N=1105 N=1007 N=1007 U.S. Aus NZ Age 12+ Age 12+ Age 16+
Slide 25: Smart speaker owners consume more audio
Smart speaker owners consume more audio Weekly Media Consumption TOTAL NEW ZEALAND POPULATION 16+ % DOING ACTIVITY IN THE LAST WEEK 93 Listen to audio (Online music, podcasts, 97 over-the-air radio, or radio online) 89 Watch TV/video (Free to air or video streaming services) 91 77 Listen to radio (O
Slide 26: In-Car Media
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Slide 27: In NZ in-car radio more dominant than in the US
In NZ in-car radio more dominant than in the US Audio Sources Currently Used in Car BASE: HAS DRIVEN/RIDDEN IN CAR IN LAST MONTH % USING AUDIO SOURCE IN CAR 72 AM/FM Radio 74 45 Online audio 55 32 Podcasts 31 29 NZ 16+ (n=914) CDs 24 U.S. 18+ (n=3696) 17 MP3 digital files 14
Slide 28: Despite growth we remain behind other comparable markets
Despite growth we remain behind other comparable markets Have Apple CarPlay or Android Auto in Primary Vehicle BASE: HAS DRIVEN/RIDDEN IN CAR IN LAST MONTH % WITH APPLE CARPLAY OR ANDROID AUTO IN PRIMARY VEHICLE 2022 2023 2024 2025 52 44 40 36 32 31 26 28 26 23 21 N=1153 N=1202 N=832 N=4072 N=851 N=
Slide 29: In-car technology driving overall audio consumption usage
In-car technology driving overall audio consumption usage Audio Sources Used in Car among those who have Apple CarPlay or Android Auto BASE: NEW ZEALAND AGE 16+ AND HAS DRIVEN/RIDDEN IN CAR IN LAST MONTH; 91% % USING AUDIO SOURCE IN CAR 72 AM/FM Radio 80 48 Own playlists 64 45 Online audio 66 32 Pod
Slide 30: In Conclusion
ey THE INFINITE DIAL’ NZ 2025 In Conclusion
Slide 31: Observations
Observations 94% of NZ consuming audio weekly demonstrates the strength of connection Live Radio and Podcast has with listeners There are myriad opportunities to leverage this connection to the advantage of advertisers
Slide 32: Observations
Observations Live radio continues to demonstrate its resilience (both here and globally), remaining dominant in car and providing scaled audience on a daily basis Radio for reach
Slide 33: Observations
Observations The challenge of reaching commercial audience on ‘global platforms’ is only growing Strengthening local platforms, with local content should be a bigger part of your audio channel mix
Slide 34: Observations
Observations Podcast growth continues unabated, with 55% of all NZ and 71% of under 35’s listening monthly With Podcast consumption becoming increasingly multi- format it is creating new opportunities for advertisers
Slide 35: Observations
Observations The growth of podcast and online audio is not coming at the expense of our resilient live radio audiences Plan audio holistically and leverage the different listener experiences
Slide 36: Observations
Observations In totality audio provides access to highly engaged audiences of any age Adopt an Audio first planning mentality
Slide 37: Study Overview
Study Overview • The Infinite Dial is the longest-running survey of digital media consumer behavior in America • The Infinite Dial New Zealand report mirrors the Infinite Dial U.S. reports, which have been undertaken annually since 1998 by Edison Research, and cover a wide range of online digital me
Slide 38: Study Methodology
Study Methodology • In March 2025, Edison Research conducted a national survey of 1,007 people aged 16 and older • N=295 telephone surveys • N=712 online surveys • Data weighted to national 16+ population figures
Slide 39: The Infinite Dial NZ 2025
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