“Last year, new releases recovered to approximately 65% of pre-pandemic levels, and this year, they are tracking to approximately 80%. Growing film production momentum at the start of the year also had 2024 volume on pace to recover even further”
Interest Rates
“I’m not saying it [further rises] won’t be painless. It will hurt consumer spending and probably affect business more than what we are seeing. But I think that the mortgage customer has been very resilient to date” Peter King, CEO, Westpac Banking Group
“While market conditions have experienced an improvement in Sydney and Melbourne, the outlook for national listings remains uncertain” Jason Pellegrino, CEO, Domain Holdings Australia Ltd.
Insurance & Claims
“We believe we are in a very interesting market for reinsurance” John Dacey, CFO, Swiss RE Group
“We expect to see a long-term trend of carriers [insurance companies] outsourcing claims as they contend with increased volumes, staffing challenges and continued pressure of a complicated technology environment” Rohit Verma, CEO, Crawford & Co. [one of the world’s largest claims management companies]
Entertainment, TV & Advertising
“Last year, new releases recovered to approximately 65% of pre-pandemic levels, and this year, they are tracking to approximately 80%. Growing film production momentum at the start of the year also had 2024 volume on pace to recover even further” Sean Gamble, CEO, Cinemark Holdings Inc
“The metro FTA [free-to-air] television market however, remains challenging, with Q1 revenues down around 12%. While September showed some improvement on the rate of decline in July and August, Nine has seen no discernible improvement into the December quarter” Mike Sneesby, CEO, Nine Entertainment Group Ltd
Technology & Regulation
“It’s very early in this [AI] world, and we need to work out what rules don’t entrench incumbents…Also, if we had told Google what they could and couldn’t do early on it could have changed how useful it became, and restrained innovation” Scott Farquhar, co-CEO, Atlassian Inc
“We are seeing unprecedented demand from data centre users as the growth in cloud computing and AI expands” Greg Goodman, CEO, Goodman Group
Renovations & Construction
“Based on the first four months of trading in FY24, sales volumes are showing early signs of stabilising” Market Statement, Vulcan Steel Ltd
“It’s [home renovation activity] like a beach ball underwater. People have more wealth in their homes than they've ever had” Aaron Erter, CEO, James Hardie Industries Plc
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Retail
“APAC is moving from strength-to-strength in Asia with a weaker demand pattern in ANZ” Jim Clayton, CEO, Breville Group Ltd
Discretionary Spending
“Overall, however, we continue to see resilient and durable travel intent in our data driven by the enduring trend of consumers prioritising travel and experiences over other discretionary spend” Matthew Goldberg, CEO, Tripadvisor Inc
“Moving on to our outlook. Although our third quarter volume trends were slightly better than expected, we did observe softening consumer demand in September that carried through October” Jamie Iannone, CEO, eBay Inc.
Social Media & Dating
So the way, call it, 18-to-22-year-olds are looking to express themselves, is actually quite different than the older cohorts, even their peers just a few years older” Whitney Herd, CEO, Bumble Inc
Geopolitics
“What we need to do as an industry is be mindful of how we go back in, because one of the things with China is that it became the panacea as the Australian wine industry had been structurally oversupplied since 2011” Bryan Fry, CEO, Pernod Ricard Winemakers
Domestic Investment Community
“And we see an investment community that understands mining – and an investment community that has significant funds to invest in well run companies” Tom Palmer, CEO, Newmont Corp [acquirer of Newcrest Mining Ltd]
Freight & Shipping
”Since the summer, we have seen overcapacity across most regions triggering a new wave of price reductions... The materialisation of these supply side risks and their impacts on freight rates ushers a very uncertain trading environment with significant further downside risk potential” Vincent Clerc, CEO, Mærsk
Travel & Transport
“[The] industry is still really challenged relative to 2019…the consumer business is down, let's call it, still 15%; in the truck business, 22% versus 2019. So look, it's not back to normal” Richard Kramer, CEO, The Goodyear Tire & Rubber Company
Mining Services
“So obviously our customers are getting good realisations, good netbacks [profits] on their commodity products. So there's a lot of eagerness and need [by them] to pay for premium products. We've seen this across the globe” Sanjeev Gandhi, CEO, Orica Ltd
Industrials
“Now those industrial end markets, some are up and some are down. But overall, they're pretty steady. And the ones that are up are oil and gas, aggregate, food and beverage to give you 3. And the ones that are down are semicon[ductors], warehousing and construction and mining equipment makers. So, one is offsetting the other and the whole thing seems to be steady” Michael Hartnett, CEO, RBC Bearings Inc [major multinational bearings manufacturer]
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