Amazon intermediary Maxx has confirmed that it sold an additional $US51 million worth of products to ABC Media Holdings in the first quarter of 2018, which is equivalent to the amount of ABC Media’s market value at the time.
“The total amount of money we have sold to ABC is $US49 million, and that represents approximately 50 per cent of our overall sales, Maxx said in a statement to ESPN.”
Our total sales for the quarter were $US35.5 million and this represents approximately 1 per cent on the total of all our sales, which included sales of apparel and footwear.
“This represents the largest amount of sales ever made to an ABC media partner and it is significant for the ABC that we are able to demonstrate that we can deliver products to its customers.”
Maxx said it was a “small” number of items sold to the broadcaster, but the sales represented a significant amount of revenue.
“We have a good relationship with ABC Media, and we have been able to sell items to them for years,” the company said.
“There were some products that we did not sell and we sold those items to other outlets as part of our business.”
But our business has grown significantly since our acquisition of ABC, and it’s a good time to be selling.”ABC chief executive James Packer said the company’s sales were “disappointing” and it would not “be surprising” to see sales decline if the company “continues to struggle”.”
We will continue to work with Maxx to help them develop a more sustainable business model and continue to invest in our distribution network,” he said.ABC Media’s revenues in 2018-19 were $5.8 billion, and the company reported operating income of $US1.3 billion.”
It’s important that we do our part to help the ABC deliver a strong digital platform,” Mr Packer told the ABC’s Breakfast program.”
When we sell products to other media outlets, it creates more opportunities for us to sell them to consumers, and in return, we want to sell more products to our audience.
“I’m not going to be surprised if we don’t see that kind of sales decline.”
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